10/11/2014

Bank officers to ‘work-to-rule’ over pay hike row

The All India Bank Officers' Confederation (AIBOC) has decided to stick to office hours and not attend office on Sundays/ holidays and extended office hours with effect from Monday.
The AIBOC Executive Committee has also authorised the leadership to decide about a strike for minimum of two days along with other constituents of UFBU (United Forum of Bank Unions) in the first week of November to press their demand for early settlement of wage revision.
Sharing details of AIBOC's Executive Committee discussions at Delhi, District President of AIBOC, Coimbatore J Vanangamudi told Business Line that the committee had, among others, discussed wage revision for officers, working conditions and other issues including stringent action against bank loan defaulters. 
Voicing criticism about the unrelenting stand of the IBA, he said "we have created a record of sorts in financial inclusion, implemented various policies and programmes of the government, but the IBA is adamant even towards our genuine salary revision demand. We have therefore decided to withdraw extra co-operation by strictly observing office hours, not attend office on Sundays and holidays. We are also planning a massive rally at Jantar Mantar on October 13, country-wide protest demonstrations with UFBU constituents on October 17 and one-day dharna between Oct 18 and Oct 31 at all State capitals".
(This article was published on October 11, 2014)
http://www.thehindubusinessline.com/news/states/bank-officers-to-worktorule-over-pay-hike-row/article6491957.ece

10/05/2014

SBI may offer flexible hours, work place for women staff

The bank will target youngsters with digital banking drive
State Bank of India’s women employees, engaged as remote experts to interact with customers for digital banking, may get to enjoy a bit more flexibility when it comes to work place and work hours.
With the bank rolling out digital banking branches in High Streets and shopping malls, work place and work hours flexibility is within the realm of possibility, feels Chairman Arundhati Bhattacharya.
India’s largest bank is toying with this idea in the backdrop of its introduction of a two-year sabbatical leave for women employees during their entire career.
SBI’s digital banking branch allows instant account opening with a personalised debit card.
Further, the branch also offers Remote Expert facility, whereby customers can interact with the bank’s experts via high-definition video for advice on their financial needs — loans, life insurance, general insurance, demat account, securities, etc.
Battacharaya said: “As we go ahead with this kind of remote experts in digital banking, we are trying to see whether there is a way in which we can make the work place and work hours a little more flexible. But these are things that we are still working on.
“Now, if you (an employee) are having conversation with customers from a place other than the branch, the bank needs to have the right kind of recording facility and the right way of monitoring. This is not easy. So, we will see. ”
The first woman chief of SBI said her bank has opened seven digital banking branches across Delhi, Mumbai, Bangalore and Kolkata in the last few months.
New brand
For its digital banking drive, SBI is creating the “sbiINTOUCH” brand.
“It is called sbiINTOUCH because it is supposed to put us in touch with the younger generation and because it is a touch experience. It is a sub-brand of SBI.
“These branches enable us to get the tech-savvy youngsters in. Youngsters are at home with technology and this sort of enables them to do a lot of things on their days out because these branches are all in High Street and shopping malls,” Bhattacharya said.
(This article was published on September 29, 2014)
http://www.thehindubusinessline.com/industry-and-economy/banking/sbi-may-offer-flexible-hours-work-place-for-women-staff/article6458485.ece

Talks on wage revision break down; bank unions plan national strike

Improvements on many counts, but IBA not to raise wage offer beyond 11%
Following the breakdown of its negotiations with the Indian Banks Association (IBA) for a wage revision agreement, the United Forum of Bank Unions (UFBU) has decided to go on a one-day all-India strike later next month.
Employees will wear black badges on October 10 and country-wide protest demonstrations will be conducted on October 17. A one-day dharna will be held at all State capitals between October 18 and 31. This would be followed by a one-day, country-wide protest strike, date for which is yet to be decided.
The decision to resort to further agitations to press the IBA to agree to a more liberal wage offer was taken by the UFBU leadership after the failure of the September 26 talks. The UBFU has been demanding a 25 per cent revision in pay slip components, but the IBA offered 11 per cent.
Union leaders told BusinessLine that while the IBA negotiators were flexible on certain issues, they were adamant that the wage increase could not go beyond the already offered 11 per cent in monthly salaries. The unions were ready to scale down their demand, but the banks’ management was totally inflexible, they alleged.
Wage agreement
At the negotiations, the IBA wage negotiation team was led by Central Bank of India Chairman and Managing Director Rajeev Rishi. The talks on a five-year wage agreement in the banking sector have been going on for more than a year.
UFBU leaders said that at the latest round of talks, the demand for 100 per cent reimbursement of hospitalisation expenses of the bank staff and their families was raised. The IBA agreed to the unions’ demand that employees will be covered by the Mediclaim scheme, but they had to submit their claims to the banks and that the reimbursement will be made by the banks with the improved benefits of the new insurance scheme. A final medical reimbursement plan will be worked out based on the consensus.
The IBA is willing to consider the demand for 100 per cent DA on pension for pre-November 2002 retirees. The IBA will also consider a reasonable proposition on updating pension. It will look into the demand for a five-day week if UFBU submitted a new set of proposals. On the issue of regulated working hours for officers, the IBA agreed to study the new proposal submitted by the unions.
The IBA’s suggestion of implementing the CTC (cost-to-company) principle was rejected by the unions. The suggestion of limiting the wage talks up to Scale-III officers instead of up to Scale-VII was also rejected.
(This article was published on September 29, 2014)
http://www.thehindubusinessline.com/industry-and-economy/banking/talks-on-wage-revision-break-down-bank-unions-plan-national-strike/article6458482.ece

SBI announces revised, liberal home loan scheme for staff

State Bank of India has revised housing loan scheme for employees by incorporating liberal provisions in terms of maximum limits and expanded repayment period across categories.
The scheme was last revised in February, 2008. The latest revision was announced in a corporate circular dated September 30, 2014.
Group insurance
The new housing loan entitlements were decided on by a meeting of the executive committee of the central board held in Mumbai on September 19.
The benefit of revised housing loan scheme will be applicable to all eligible employees who are on roll as on September 19. The revised ceiling and interest rates will be effective immediately to all new loans sanctioned/ disbursed on or after September 30.
The bank is considering the possibility of covering all new staff housing loan accounts with a group insurance policy as an added welfare measure to all employees.
The central board noted that the loan limits fixed six years ago have lost relevance due to increase in prices of land and construction materials. Property rates have gone up substantially.
Employees/ officers have had to resort to borrowing on commercial rates to complete housing projects or to acquire ready built-up flats/houses.
Loan conversion
Existing commercial housing loan may be converted under the new scheme. Option for enhancement of loans is also allowed to liquidate existing loan, subject to conditions.
On promotion, an employee will be permitted to draw up the entitlement to the grade/scale to which he/she is promoted, for repaying loans taken on commercial/public terms.
The board noted that a number of employees have raised additional housing loan from the bank at commercial rates. Such staff members may be permitted to take the housing loan up to their revised entitlement for repaying the outstanding housing loan, subject to conditions. This facility is available only as a one-time measure and has to be used up before June 30, 2015.
Repayment for the new loans will be in 360 instalments (224 for principal + 112 for interest + maximum moratorium of 24 months.)
In the case of existing loans, the original repayment schedule of 168 + 72 instalments will continue.
(This article was published on October 3, 2014)
http://www.thehindubusinessline.com/industry-and-economy/banking/sbi-unveils-home-loan-scheme-for-staff/article6469190.ece