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Tuesday, 27 August 2024

DISCUSSIONS ON RESIDUAL ISSUES WITH IBA.

ALL INDIA BANK OFFICERS' ASSOCIATION 


Circular No.26/VIII/2024 26.08.2024

Camp: Bengaluru.

TO: ALL STATE COMMITTEES / AFFILIATED UNITS

Comrades,

DISCUSSIONS ON RESIDUAL ISSUES WITH IBA.

One more round of discussions on residual issues listed on 8th March 2024 was conducted by IBA with the all the unions, who are party to the current wage negotiations concluded with IBA on 8th March 2024 at Taj Bangalore today between 12.30 P.M. and 13.55P.M.

  • 2.
    IBA team consisting of Shri. Rajneesh Karnatak, Chairman, Negotiating Committee IBA, Shri. S.L. Jain, (MD&CEO, Indian Bank), Shri. R.K. Sharma, MD&CEO, IDBI, Shri. Nidhu Saxena MD&CEO, Bank of Maharashtra, Shri. Rajesh Ingle, CGM BOI, CGM (HR) SBI, Shri. Gopal Murli Bhagat Dy. CEO IBA and Shri. Brajeshwar Sharma Senior Advisor (HR&IR) IBA participated in the discussions.
  • 3.
    Representatives of the eleven unions were present in this discussion. Representing AIBOA, the undersigned participated in to-day's discussions.
  • 4.
    While initiating the discussions Dy. CEO IBA, with the formal welcome, suggested the members of the negotiating committee of IBA to share the developments taking place in our Industry. The Chairman Negotiating Committee expressed that the pressure to mobilise the CASA is the priority, as the deposit growth is not matching with growth of Lending, which was emphasised in the recent meeting held by Hon'ble Finance Minister Government of India on 19th August 2024. The Governor RBI and also the Secretary, D.F.S., Government of India had also stressed the need for sourcing the funds for the purpose of lending. Other team members of IBA also reiterated the position and the necessity to work towards the performance of the industry. MD&CEO, IDBI added the new area of concern [i.e] Cyber Security in the Banks.
  • 5.
    The Senior Advisor (HR&IR) IBA, while elaborating the issues, initially suggested the participants to complete the minutes prepared by IBA on PLI and Insurance backed Hospitalisation scheme by duly affixing their signatures. On PLI, it was made clear that the understanding in the meeting held on 15.06.2024 was out of the 8 parameters listed 5 parameters would be chosen by mutual discussions with the unions in the individual Banks on the modalities and also the Metrix. Whereas, it was responded that the managing committee of IBA has decided to give more flexibility to decide the issue of PLI at Bank level. A hint was dropped instead of providing incentivization, it may lead to counter-productive. Further, there was a reference made by IBA about the outsourcing clause mentioned in the earlier settlement and also the legal intervention/interpretation delivered by the Apex Court.

6. RESIDUAL ISSUES:

  • 5 days Banking: Though IBA has taken up Government, the matter is resting with the Government.
  • Leave Bank: IBA has shared the note on the captioned matter. However, IBA expressed that the Tax angle should be examined.
  • Insurance Backed Hospitalization Scheme: RFP has been already floated. The developments in this regard will be shared.
  • Conveyance Allowance for Physically Challenged Staff: The circular was already released , enhancing the quantum from Rs 400/- to Rs 600/ p.m.
  • Income Tax Exemption on Contribution of 4% made to NPS Optees: In the current budget, the same has been taken care of by the Government.
  • Implementation Up-dation Pension and Ex-gratia to Private Sector Bank retirees: IBA stated that the matter is resting with Apex Court, still, ex -gratia has been considered in the current wage revision for Public Sector Bank retirees, it was submitted that since the Private Sector Banks were also party to Pension Settlement in 1993, payment of ex-gratia should be considered for them.
  • Discipline and Appeal Regulations : It was submitted that an exclusive discussion should be held, as the report submitted by the committee needs to be revisited afresh. IBA agreed to the submission made.
  • Compassionate Grounds Appointments: It was submitted that the compassionate ground appointments should be considered delinking from the recruitment specifications stipulated by the Government.
  • SMG SCALE V officers retired between 1.11.2017 and 31.10.2020 should be given the benefit of the first stagnation increment for the purpose of pension with effect from 1.11.2024. IBA, stated that there was no fund available for the same.
  • L.F.C. Monetisation: It will be discussed in due course.
  • Uniform cash hours and business hours, IBA stated that it is linked to 5 days banking.
  • Staff Welfare Allocation: Though the Government has issued a revised guidelines enhancing the quantum allocated but the basis is still linked to net Profit. It was submitted the same should be taken up by IBA once again that the % should be linked to operating profit and not on Net profit.

Thus, the discussions have been concluded.

Yours Comradely,

/S.NAGARAJAN/ GENERAL SECRETARY

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