RBI: All Agency Banks must remain available to the public on 31 March 2019 (Sunday)

RBI: All Agency Banks must remain available to the public on 31 March 2019 (Sunday)

RESERVE BANK OF INDIA

RBI/2018-19/150
DBR.No.Leg.BC.30/09.07.005/2018-19

March 26, 2019

All Agency Banks
Dear Sir/ Madam
All Agency Banks to remain open for public on March 31, 2019 (Sunday)

The Government of India has advised that all Pay and Account Offices will remain open on March 31, 2019 (Sunday) to facilitate government receipt and payment transactions. Accordingly, all Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2019 (Sunday).

Banks shall give due publicity about availability of above banking services on this day.

Yours faithfully
(Saurav Sinha)
Chief General Manager-in-Charge

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2019 under X BPS/ Joint Note dated 25.5.2015

Dearness Allowance @ 61.10% for February, March & April 2019 i.r.o. Workmen and Officer Employees in banks
Indian Banks' Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2018-19/6764
February 1, 2019
All Members of the Association
(Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2019 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960-100) for the quarter ended December 2018 are as follows:-

• October 2018 - 6893.42
• November 2018 - 6893.42
• December 2018 - 6870.60

The average CPI of the above is 6885 and accordingly the number of DA slabs are 611 (6885-4440= 2445/4= 611 Slabs) The last quarterly Payment of DA was at 607 Slabs. Hence there is a increase in DA slabs of 4, i.e 611 Slabs for payment of DA for the quarter February, March & April 2019
In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of February, March & April 2019 shall be 61.10 % of 'pay'. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,

S K Kakkar
Senior Advisor (HR&IR)

UFBU meeting All India Strike - Talks with IBA on wage revision - Offer increased to 8%

UFBU meeting All India Strike - Talks with IBA on wage revision - Offer increased to 8%

CIRCULAR NO. 31

Date: 30.11.2018

TO ALL AFFILIATES & MEMBERS
Dear Comrades,

• Talks with IBA on wage revision - Offer increased to 8%
• UFBU meeting - Call given for All India Strike on 26th 2018 against amalgamation of Bank of Baroda, Dena Bank and Vijaya Bank.

We reproduce hereunder the Circular No. UFBU/2018/20 Dated the 30th November 2018 issued by Com. Sanjeev K. Bandlish, Convenor, United Forum of Bank Unions (UFBU), for information of all affiliates and members.

With revolutionary greetings,
Yours sincerely,
(SANJEEV K. BANDLISH)
GENERAL SECRETARY

"After the last round of discussions held on 12-10-2018, there was another round of Bipartite Talks between IBA and UFBU today in Mumbai. IBA team was led by Shri Rajkiran Rai G. (MD & CEO of Union Bank of India) Chairman of the Negotiating Committee of IBA. UFBU was represented by leaders of all the nine constituent unions.

IBA's increased offer: Picking up the thread from the discussions of the last round of discussions wherein we had urged upon the IBA to improve their offer of 6% hike in the cost of pay slip components, IBA today revised their offer and increased their offer to 8% instead of 6% offered earlier. IBA also reiterated their formula of further wage increase based on their proposal linked to annual increase in Operating Profit and on Return on Assets of the Banks. While welcoming their improved offer, we stated that differential wage increase based profits of each Bank is not acceptable to us and that the wage revision in the Banks should be uniform as has been hitherto. We also further stated that their revised offer is far below our expectations. Hence, we urged upon the IBA to further revise their offer substantially to an acceptable level. We further stated that the issue of full mandate i.e. wage revision for Officers to cover all Officers upto Scale-VII should also be resolved. IBA expressed their limitations in this regard but we insisted them to find an amicable solution to this important issue.

We have requested the IBA to hold further discussions at the earliest and also hold Sub Committee meeting to sort out other remaining issues raised by us in the Charter of Demands. IBA agreed to this suggestion.

UFBU MEETING: Thereafter, meeting of the UFBU was held at AIBEA Office. While taking note of the improved offer of IBA, the meeting expressed its disappointment that the revised offer is totally inadequate to meet our expectations and further noted with concern the attitude of the IBA in not coming forward to resolve the mandate issue. The meeting decided to pursue these issues vigorously.

WE OPPOSE MERGER AND AMALGAMATION OF THE 3 BANKS - ALL INDIA STRIKE ON 26-12-2018: Regarding the proposed amalgamation of Bank of Baroda, Dena Bank and Vijaya Bank, the meeting noted that the Government and the concerned Banks were moving ahead with their decision and hence it was decided to give the call for observing All India Strike on 26th December, 2018.

Separate circular with other preparatory programmes will be issued shortly. We call upon all our constituent unions and members to start preparations for this strike action.

Comrades, we are passing through challenging times and hence our unity and united approach will be highly imperative to face these challenges and attacks."

NCBE Cir. 31

Wage Negotiation: Negotiating Committee Meeting with Unions/ Associations

11th Bipartite settlement next meeting date on 29th Sept 2018

Indian Banks' Associations(IBA)

HR & INDUSTRIAL RELATIONS
No.HR &IR/UFBU/XIBPS/5870

September 15, 2018

Shri Sanjay K LUANDA
Convenor
United Forum of Bank Unions (UFBU) &
General Secretary
National Confederation of Bank Employee,
C/o State Bank of India. LHO
Plot No 1, Sector-17A
Chandigarh-160 017

Dear Sir,
Wage Negotiation: Negotiating Committee Meeting with Unions/ Associations

It has been decided in consultation withthe Chairman, Negotiating Committee of IBA. to hold next meeting ofNegotiating Committee of IBA with the representatives of Constitute & Workmen Unions/ Officers' Associations on Saturday, 29th September 2018 at 10:00 am in the Committee Room of IBA, World Trade Centre,Cuffe Parade, Mumbai.

2. You are,therefore,requested to please convey suitably to the General Secretaries ofConstituent Workmen Unions/ Officers' Associations of UFBU to make itconvenient to attend the meeting by their authorized representative (a)as under:

Sr No.	Name of the Union/Association	No of Representative (s)
1.	All India Bank Employees' Association (AIBEA)	2
2.	National Confederation of Bank Employees (NCBE)	2
3.	Bank Employees' Federation of India (BEFI)	1
4.	Indian Nahanni Bank Employes' Federation (INBEF)	1
5.	National Organisation of Bank Workers (NOBW)	1
6.	All India Bank Officers' Confederation (AIBOC)	2
7.	All India Bank Officers' Association (AIBOA)	1
8.	Indian National Bank Officers' Congress (INBOC)	1
9.	National Organisationof Bank Officers (NOBO)	1

3. Kindly confirm participation with details of the participants.

Yours Faithfully,

Senior Advisor (IIR &IR)

Source : www.bipartitesettlement.com

Banks will remain open and banking activity will continue unimpeded in the first week of September

Ministry of Finance
Banks will remain open and banking activity will continue unimpeded in the first week of September

Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th September ; Monday, 3rd September is not a pan India holiday

ATMs in all States will be fully functional; Banks advised to ensure availability of sufficient cash for dispensation from ATMs

31 AUG 2018 

It has come to notice that a rumour is circulating in several sections of the social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public.

It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September. Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th September. Monday, 3rd September is not a pan India holiday and banks only in some States where a holiday is declared under the Negotiable Instruments Act, 1881 will remain closed.
Even on those days, ATMs in all States will be fully functional and there will be no impact on online banking transactions. Banks have been advised to ensure that sufficient cash is available for dispensation from ATMs. Banks will remain open on all other days.

PIB

IBA : Medical Insurance Scheme - constitution of committee

IBA : Medical Insurance Scheme - constitution of committee

INDIAN BANKs' ASSOCIATION

HR & INDUSTRIAL RELATIONS

No.HR&IR/SKK/Medical Ins/2018-19/5041

May 8, 2018

Shri Sanjev K.Bandish,Convenor,UFBU
United Forum of Bank Unions,
C/o State Bank of India,LHO,Plot no.1, Sector -17A
Chandigarh - 1600017

Dear Sir,
Medical Insurance Scheme - constitution of committee

Please refer to our earlier communication in the subject matter and discussions held on 5th May,2018 with the Negotiating Committee. As desired , we place below the four suggested options:

i. Banks may go back to the earlier Hospitalization Expenses reimbursement Scheme as was in vogue till 9th Bi-partite settlement for employees and dependent family members.

ii. Directly deal with united India Insurance Co.Ltd or any other Insurance Company by calling quotes, without any interference from Broker.

iii. Advise banks to decide on the course of Medical Insurance Scheme on their own. Each Bank can negotiate with Insurance Companies to provide a Scheme tailor made to the requirement of the same.

iv. Continue with the process of appointing two or more brokers to help in assisting the IBA member banks to get a suitable Scheme prepared after getting the best quote as the nuances and fine print of the Insurance Policy and its features & interpretation will not be known to most employees & IBA in the absence of a broker.

2.In this context, as suggested by you, we would like to hold a meeting at our stadium House Office on 11.5.2018 at 11.00am to have fruitful deliberation for further course of action regarding Medical Insurance Scheme. You are therefore requested to kindly make it convenient to depute four representatives (two from officers Associations & two from Workmen Unions) to attend the meeting & share the views of the unions & Associations so that the matter may be concluded well in time before renewal.

3.A line of confirmation will be highly appreciated in this regard.

Yours faithfully,
S/d,
S K Kakkar,
senior Advisor (HR&IR)

RBI: Statement on Developmental and Regulatory Policies - October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons

Banking Facility For Senior Citizen And Differently Abled Persons - RBI Notification

RESERVE BANK OF INDIA

RBI/2017-18/89
DBR.No.Leg.BC.96/09.07.005/2017-18

November 9, 2017

All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks

Dear Sir/ Madam
Statement on Developmental and Regulatory Policies - October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons

Please refer to Paragraph 8 of Statement on Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 as part of Fourth Bi-monthly Monetary Policy Statement 2017-18, a copy of which is enclosed. It has been observed that there are occasions when banks discourage or turn away senior citizens and differently abled persons from availing banking facilities in branches. Notwithstanding the need to push digital transactions and use of ATMs, it is imperative to be sensitive to the requirements of senior citizens and differently abled persons.

2. In view of the above, banks are required to put in place appropriate mechanism with the following specific provisions for meeting the needs of such customers so that they are able to avail of the bank’s services without difficulty.

(a) Dedicated Counters/Preference to Senior Citizens, Differently abled persons Banks are advised to provide a clearly identifiable dedicated counter or a counter which provides priority to senior citizens and people who are differently abled including visually impaired persons.

(b) Ease of submitting Life Certificate
As per extant guidelines issued by Department of Government and Bank Accounts, in addition to the facility of Digital Life Certificate under "Jeevan Praman" Scheme (refer circular DGBA.GAD.H-2529/45.01.001/2014-15 dated December 9, 2014), pensioners can submit physical Life Certificate form at any branch of the pension paying bank. However, it is observed that often the same is not updated promptly by the receiving branch in the Core Banking Solution (CBS) system of the bank, resulting in avoidable hardship to the pensioners. It is, therefore, advised that banks shall ensure that when a Life Certificate is submitted in any branch, including a non-home branch, of the pension paying bank, the same is updated/ uploaded promptly in CBS by the receiving branch itself, to avoid any delay in credit of pension.

(c) Cheque Book Facility
(i) Banks shall issue cheque books to customers, whenever a request is received, through a requisition slip which is part of the cheque book issued earlier.
(ii) Banks are advised to provide minimum 25 cheque leaves every year, if requested, in savings bank account, free of charge.
(iii) Banks shall not insist on physical presence of any customer including senior citizens and differently abled persons for getting cheque books.
(iv) Banks may also issue cheque books, on requisition, by any other mode as per bank’s laid down policy.

It is further clarified that providing such facility in BSBDA will not render the account to be classified as non-BSBDA (c.f. Bank’s response to query number 14 and 24 of our circular "DBOD.No. Leg. BC.52/09.07.005/2013-14 dated September 11, 2013 on Financial Inclusion - Access to Banking Services - BSBDA - FAQs").

(d) Automatic conversion of status of accounts
Presently, in some banks, even fully KYC - compliant accounts are not automatically converted into ‘Senior Citizen Accounts’ on the basis of date of birth maintained in the bank’s records. Banks are advised that a fully KYC compliant account should automatically be converted into a ‘Senior Citizen Account’ based on the date of birth available in bank’s records.

(e) Additional Facilities to visually impaired customers
Banks are advised that the facilities provided to sick/old/incapacitated persons vide Paragraph 9 of our Master Circular DBR.No.Leg.BC.21/09.07.006/2015-16 dated July 1, 2015 on Customer Service in Banks (regarding operations of accounts through identification of thumb/toe impression/mark by two independent witnesses and authorising a person who would withdraw the amount on behalf of such customers) shall also be extended to the visually impaired customers.

(f) Ease of filing Form 15G/H
Banks are advised to provide senior citizens and differently abled persons Form 15G/H once in a year (preferably in April) to enable them to submit the same, where applicable, within the stipulated time.

(g) Door Step Banking

We have issued instructions on Doorstep Banking vide circular DBOD.No.BL.BC.59/22.01.010/2006-2007 dated February 21, 2007 under Section 23 of Banking Regulation Act, 1949. However, in view of the difficulties faced by senior citizens of more than 70 years of age and differently abled or infirm persons (having medically certified chronic illness or disability) including those who are visually impaired, banks are advised to make concerted effort to provide basic banking facilities, such as pick up of cash and instruments against receipt, delivery of cash against withdrawal from account, delivery of demand drafts, submission of Know Your Customer (KYC) documents and Life certificate at the premises/ residence of such customers.

3. Banks are advised to implement these instructions by December 31, 2017 in letter and spirit and give due publicity in their bank branches and website.

Yours faithfully
(Saurav Sinha)
Chief General Manager

Source : RBI

Interest rate on the long term saving deposits in post offices

Interest rate on the long term saving deposits in post offices

Interest rates on bank deposits are not uniform and vary from bank to bank. Hence, a one-on-one comparison of interest rates may not be possible.

The interest rates on term deposits are deregulated and they are determined by the banks themselves as per their Board approved policies. In contrast interest rates on Small Savings Schemes are administered interest rates linked to G-Sec rate of comparable maturity.

The percentage of savings in the savings schemes in Post Office as on 31.03.2016 is 14.84% of the deposits in the savings schemes of PSBs.

The Government has taken various steps to popularise all the existing schemes by carrying out publicity through print and electronic/Audio Visual media on an all India basis. Jan Dhan Yojana is a scheme of the Government to encourage deposits in banks and promote savings.

This was stated by Shri Arjun Ram Meghwal, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.

PIB

FinMin asks banks to hire retired staff to deal with cash rush

FinMin asks banks to hire retired staff to deal with cash rush

New Delhi: The finance ministry today asked banks to consider engaging retired employees to deal with the unprecedented rush for exchange of invalid currency notes and ease pressure on existing staff.

In a letter written to Indian Banks’ Association (IBA), the financial services department of the finance ministry said it should look into issues, particularly employment of retired bank staff and payment of remuneration and instruct the banks suitably at the earliest.

“In the event of extra business hours implemented to cope up with the situation, banks may require to make deployment plan of staff on shift basis so that the same person does not work for continuous long hours,” it said.

Praising commendable work done by the banking fraternity, it said banks may plan and support the officers and employees working in late hours, particularly the safety and security of women employees, with arrangements for food and conveyance.

Additional infrastructure like more terminals, separate arrangement for cash, exchange and dispensation may be implemented and services of retired persons may also be taken so that the pressure of existing staff may ease and a larger customer base is satisfied, it said.

Many employee unions have made representation to the finance ministry and IBA presented the multiple problems being faced by employees and officers on account of implementation of the demonetisation scheme.

“We are happy that the government has addressed some of the issues raised by us,” All India Bank Employees’ Association General Secretary C H Venkatachalam said in a statement.

PTI

Indelible Ink Mark to avoid multiple transactions : Not applicable for withdrawal or deposit

Indelible Ink Mark to avoid multiple transactions

The Central Government has announced that banks will mark with indelible ink the fingers of people exchanging old currency at bank counters to stop them from coming back repeatedly and avoid multiple transactions.

The drawing limits against Bank Accounts and from ATMs and over the cash disbursement have also been increased. It was noted that one of the primary reasons for long queues was that the same persons were visiting Bank branches, ATMs etc. repeatedly. It was also noted that certain unscrupulous elements are using the services of poor and innocent people to convert their black money into white. 

To prevent such misuse of the facility and enable larger number of persons to draw cash, indelible ink used during elections shall be used for over the counter exchange against old Rs.500/- and Rs.1000/- notes. This is not applicable in the case of withdrawal from or deposit into accounts.
Cash disbursement points, especially Bank branches will be advised to put-up notices outside their branches advising people to avoid exchange of old notes over the counter multiple times. 

Parking Charges at Airports suspended till 21.11.16

The Ministry of Civil Aviation has decided to suspend the collection of parking charges at all airports till midnight of 21 November 2016. This has been done in order to facilitate the smooth movement of passengers.

2nd and 4th Saturday as Holidays in Banks w.e.f. 1st Sep, 2015: DFS Notification

Wage Negotiation between IBA Workmen Unions and Officers’ Association - 10th BPS - 2nd and 4th Saturday as Holidays, DFS Order and Notification

F.No.4/1l7/2015-IR

Government of India

Ministry of Finance

Department of Financial Services

Jeevan Deep, IIIrd Floor,

Parliament Street. New Delhi

Dated the August 20. 2015

To
1. Dy. Governor,
Reserve Bank of India.
Central Office,
Mumbai.

2. Chief Executive,
Indian Banks’ Association,
Mumbai.

Subject: Wage Negotiation between IBA Workmen Unions and Officers’ Association - 10th BPS - 2nd and 4th Saturday as Holidays

Sir,

I am directed to refer to IBA’s letter No. HR&IR/XBPS/3/975 dated 25th June, 2015 and RBI's letter No.DBR(Leg.)No.953/09.04.022/2015-16 dated 15.7.2015 on the subject cited above and to enclose herewith a copy of the Notification(in English and in Hindi) regarding declaring every second and fourth Saturday of every month as public holiday for banks in India with effect from 1st September, 2015.

2. RBI and IBA are requested to take necessary action accordingly.

3. This issues with the approval of Competent Authority.

Yours faithfully.

Encl. As above

(Manish Kumar)

Under Secretary to the Government of India

To be published in the Gazette of India, Extra ordinary, Part II, Section 3, Sub-section (II)

MINISTRY OF FINANCE

(DEPARTMENT OF FINANCIAL SERVICES)

NOTIFICATION

NEW DELHI, THE 20 AUGUST ,. 2015

S.0. - (E) In exercise of the powers conferred by section 25 of the Negotiable Instruments Act, 1881 (26 of 1881), the Central Government hereby declares the second and the fourth Saturday of every month as publlc holiday for banks In India, whether or not such banks are Included In the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), with effect from the 1st day September, 2015.

(F. No. 4/1/712015-IR]

sd/-

(Mohammad Mustafa)

Joint Secretary to the Government of India

To
The Manager,
Government of India Press,
Ring Road, Mayapuri,
New Delhi -1 10064.

Via: Staffnews.in

Bank Staff: Higher House Rent Allowance as per 2011 Census

Bank Staff: Higher House Rent Allowance as per 2011 Census

AIBEA Circular

Date : 6th July, 2015

Dear Comrades,

HOUSE RENT ALLOWANCE AS PER 2011 CENSUS

Recently Government of India has issued the Gazette notification for the Census as of 2011. It is the 15th Census in India beginning from 1872 and 7th since our independence.
Some data from the Census:

• Population as per this Census in 2011: 121,01,93,422
• Rank: No. 2 with 17.5% of world population ( 1st is China: 19%)
• No. of Districts: 640
• Most populace State : UP
• Least populous State: Sikkim
• Most populated metro : Mumbai : 1,84,14,288
• Most Literate State : Kerala ( 94 %)
• Least Literate State : Bihar ( 64 %)
• Sex Ratio : 940 Female : 1000 Male
• Literacy of Male : 82.14 %
• Literacy of Female : 65.46 %
• Highest populace District: Thane, Mumbai
• 100 % Literacy District : Palakkad, Kerala
• 100 % Banking State : Kerala
• 100 % Banking District : Palakkad
• Increase in population from last census in 2001 to 2011: 18.1 crore

Some disturbing facts:

• Total household: 24.39 cr; Rural households accounted for 17.91 cr (73%)
• 30 % of Indian rural households doesn’t have land and depend on casual labor for subsistence.
• As many as 2.37 crore (one in eight) families in villages live in houses of one room with ‘kaccha’ walls and roof.
• 23.52 % rural families have no literate adult above 25 years
• 74 % of the rural households survived on a monthly income of less than Rs 5,000 of its highest earner
• 51 % of the households are engaged in casual, manual labour and 30 % in cultivation.
• 7 in 10 homes in rural live on less than Rs 200 a day
• 18.06 lakh people are still engaged in manual scavenging
• Households with destitutes or those living on alms is over 6.68 lakh
• As many as 4.08 lakh households rely on rag-picking.

Higher HRA for bank employees: Employees in the below-mentioned upgraded centres would get the revised/higher HRA rates and receive the arrears from 2011.

45 lacs and above HRA will be paid at 10%	Surat, Pune
12 to 45 lacs HRA will be paid at 9%	Asansol, Vijayawada, Rajkot, Faridabad, Srinagar, Jamshedpur, Kannur, Trivandrum, Mallapuram, Thrissur, Kozhikode, Jabalpur, Vasai-Virar, Nasik, Allahabad, Meerut, Ghaziabad,
5 to 12 lacs HRA will be paid at 7.5%	Nellore, Kollam, Gulbarga, Ujain, Nanded Waghala, Malegaon, Sangli, Rourkela, Erode, Saharanpur, Noida, Firozabad, Jhansi, Siliguri, Durgapur.

In addition, in various towns and cities, number of small places in the outskirts have been brought as part of the bigger town/city/UA and such places would also attract the higher HRA of the concerned town/city/Urban Agglomeration.

Source: http://banknewskumar.blogspot.in

PSU bank employees will soon get pay hike, arrears for 30 months

PSU bank employees will soon get pay hike, arrears for 30 months

Mumbai, May 22:  Employees of public sector banks, old generation private sector banks and some foreign banks will be a happy lot as they will soon get 15 per cent pay hike, arrears for the last 30 months, and other benefits as part of a deal that the unions and bank managements have reached.

Unions, under the aegis of the United Forum of Bank Unions, and bank managements, represented by the Indian Banks’ Association, have worked out a detailed Bipartite Settlement/ Joint Note and the same will be formalised on May 25.

The benefits that about 7.50 lakh bank employees stand to get are a special pay, a new hospitalisation scheme backed up by insurance and holiday on every second and fourth Saturday in a month.

The back wages (arrears) that bank employees will get for the last 30 months will warm the cockles of their heart. Income tax authorities too will be happy as arrears will be taxable.


S Nagarajan, General Secretary, All India Bank Officers’ Association, said “A special allowance has been introduced for employees… there is a new hospitalisation scheme backed up by insurance.” The wage settlement will benefit 3,04,000 odd officers (as on March 31, 2012) in the banking sector.

Officers will get health insurance cover of Rs. 4 lakh and the clerical and sub-staff will get Rs. 3 lakh cover, he added.

A corporate buffer will be created by banks to reimburse hospitalisation expenditure exceeding the above mentioned limits.

Pointing out that the last wage settlement expired in October 2012, Nagarajan, in a lighter vein, observed that “Five years is the tenure of the wage settlement. We have already exhausted 30 months in coming to a settlement. It’s time now to submit the next charter of demands.”

Vishwas Utagi, Vice President, All India Bank Employees Association, said the wage settlement will benefit about 4.50 lakh clerical and sub-staff in the banking sector.

Bank employees will get close a couple of lakh rupees, on an average, as arrears in gross terms, he explained. Since payrolls are computerised, the arrears could be credited to employees’ accounts in a month.

Utagi said the issue of upgradation of pension of retirees and 100 per cent neutralisation of dearness allowance will be taken up by the United Forum of Bank Unions separately.

Read at: The Hindu Businessline

PFRDA Order: Incentive for mobilization and registration of subscribers under Atal Pension Yojana

PFRDA Order: Incentive for mobilization and registration of subscribers under Atal Pension Yojana

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

1st Floor, ICADR Building, Plot No. 6.

Vasant Kunj Institutional Area,

Phase – II, New Delhi – 110070

No. PFRDAIAPY/4/62

19th May, 2015

To,
All Banks under APY
Sir,

Subject: Incentive for mobilization and registration of subscribers under Atal Pension Yojana.

I am directed to say that incentive structure for Banks to mobilize and register subscriber under Atal Pension Yojana has been under the consideration of PFRDA.

2. In consultation with the Department of Financial Services, Ministry of Finance, it has been decided that for mobilizing each account the Banks will be paid an incentive as per the table below:

i. Per capita incentive at Rs 100
ii. Incentive payable for promotion and development of APY:

S no	Number of subscribers under APY with each Bank	Incentive for promotional efforts (only for new accounts opened during the year)
1	Less than 1 lakh	Rs 20/-
2	More than 1 lakh upto 3 lakh	Rs 30/-
3	More than 3 lakh upto 5 lakh	Rs 40/-
4	More than 5 lakh	Rs 50/-

As Banks are expected to engage the Banking Correspondents (BCs) / Micro Finance Institutions (MFIs) / Non-bank aggregators to mobilize the subscribers, they can Share the incentives with such BCs / MFIs / Non-bank aggregators etc. in the ratio 50:50 :: Banks : BCs/MFIs/ Non-bank aggregators.

 

3. Banks are advised to contact aggregators for shifting of existing eligible Swavalamban subscribers to APY as per the scheme.

 

4. Payment of incentives to banks each year will be made after the completion of the financial year on receipt of funds from the government.

Yours sincerely,

(Purnima Sharma)

Dy. General Manager

Source: http://pfrda.org.in/WriteReadData/Links/Incentive%20Structure%20for%20APY5c598c21-5021-481a-8866-16213d2d1343.pdf

Reservation in Promotion in Public Sector Banks

Reservation in Promotion in Public Sector Banks

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF FINANCIAL SERVICES

RAJYA SABHA

 

UNSTARRED ADMITTED QUESTION NO. 2161

TO BE ANSWERED ON THE 17TH MARCH, 2015
(TUESDAY) PHALGUNA 26, 1936 (SAKA)

RESERVATION IN PROMOTION IN PSBs.

 

QUESTION 2161. SHRI BALWINDER SINGH BHUNDER:

Will the Minister of FINANCE be pleased to state:-
(a):   whether it is a fact that Public Sector Banks (PSBs) give reservation in promotion up to DGM level and there is hardly any SC/ST officer above DGM level;
(b):  if so, the details, thereof, bank-wise and the details of SC/ST Officers above DGM level, bank-wise;
(c):    whether any training is provided to SC/ST  Officers at DGM  level so that they can share higher responsibility and be promoted to next level; and
(d):   the overall plan for growth of persons from SC/ST category in PSBs bank-wise?

ANSWER

THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI JAYANT SINHA)
(a)&(b): No, Sir. At present Public Sector Banks (PSBs) give reservation in promotion up to Scale-I only. There is no reservation in promotion within the officers cadre. A statement of SC/ST officers above DGM level in at annexed.

(c)&(d): Banks are periodically providing in-house /external training to all officers including SC/ST officers above DGM level to shoulder higher responsibilities. Department of Financial Services has been advising all PSBs to provide effective pre-promotion and in-service training to SC/ST employees. Instructions have also been issued to nominate a suitable number of SC/ST officers for foreign training programmes.

Annexure

Bank wise deatails of SC/ST Officers above DGM level as on 31.12.2014

 

S.NO.	Name of the PSBs.	SC	ST
1	Allahabad Bank	Nil	Nil
2	Andhra Bank	Nil	Nil
3	Bank of Baroda	3	Nil
4	Bank of India	1	2
5	Bank of Maharashtra	2	Nil
6	Canara Bank	2	1
7	Central Bank of India	1	Nil
8	Corporation Bank	Nil	Nil
9	Dena Bank	Nil	1
10	Indian Bank	1	Nil
11	Indian Overseas Bank	Nil	3
12	Oriental Bank of Commerce	Nil	Nil
13	Punjab National Bank	2	1
14	Punjab & Sind Bank	Nil	Nil
15	Syndicate Bank	3	Nil
16	Union Bank of India	1	Nil
17	United Bank of India	Nil	Nil
18	UCO Bank	1	Nil
19	Vijaya Bank	Nil	Nil
20	State  Bank of India	4	Nil
21	State Bank of Bikaner & Jaipur	Nil	Nil
22	State Bank of Patiala	1	1
23	State Bank of Hyderabad	3	Nil
24	State Bank of Mysore	1	Nil
25	State Bank of Travancore	Nil	Nil
26	IDBI Bank	1	Nil
27	BharatiyaMahila Bank	Nil	Nil
	Grand Total	27	9

Source: ENGLISH VERSION HINDI_VERSION

25% retirement till 2020: Recruitment process in Public Sector Banks

25% retirement till 2020: Recruitment process in Public Sector Banks

 GOVERNMENT OF INDIA
MINISTRY OF FINANCE
RAJYA SABHA

QUESTION NO 896

ANSWERED ON 03.03.2015

Recruitment process in PSBs

896 Shri Balwinder Singh Bhunder
Will the Minister of FINANCE be pleased to satate :-

(a) whether it is a fact that by 2020 around 35 percent of Officers/employees of Public Sector Banks (PSBs) would retire from service;


(b) if so, what preparations have been done by Bank; bank-wise to timely notify the vacancies and by IBPS to speed up recruitment process with a view to timely fill the vacancies;

(c) whether the Department of Financial Services (DFS) has issued any direction in this regards; and

(d) if so, the details thereof?

    ANSWER

The Minister of State in the Ministry of Finance (Shri Jayant Sinha)

(a) The percentage of officers/employees that would retire by the year 2020 differ in Public Sector Banks (PSBs). On an average, about 25% of officers and employees would retire by the year 2020 in PSBs.

(b) PSBs assess/anticipate vacancies including retirements annually and take necessary action to fill the same including intimating their requirement to Institute of Banking Personnel Selection(IBPS) for making allotment well in advance.

(c) & (d): Yes, Sir. Government has granted managerial autonomy to the PSBs in the matters related to Human Resource (HR) including recruitment. Government has also advised all PSBs to prepare a succession plan.

Levy of charges for non-maintenance of minimum balance in savings bank account w.e.f. 01.04.2015

LOK SABHA ANNEXURED UNSTARRED QUESTION 918 DATED 27.02.2015

ANNEXURE

Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines:

I. In the event of a default in maintenance of minimum balance / average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS / email /letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice , penal charges will be applicable.

II. In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.

III. The policy on penal charges to be so levied may be decided with the approval of Board of the Bank.

IV. The penal charges should be directly proportionate to the extent of shortfall observed. In other words, the charges should be a fixed percentage levied on the amount of difference between the actual balance maintained and the minimum balance as agreed upon at the time of opening of account. A suitable slab structure for recovery of charges may be finalized.

V. It should be ensured that such charges are reasonable and not out of line with the average cost of providing the services.

VI. It should be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance.

The above annexure was attached with undermentioned Lok Sabha Q&A:-

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

LOK SABHA

UNSTARRED QUESTION NO 918

ANSWERED ON 27.02.2015

MINIMUM BALANCE IN BANK ACCOUNTS

918 . Karunakaran Shri P.
Will the Minister of FINANCE be pleased to state:-

(a) whether the Reserve Bank of India (RBI) has issued guidelines to Bank to inform their customers about fall in minimum balance in their accounts in advance;

(b) if so, the details thereof; and

(c) the status of implementation of said guidelines by banks?

ANSWER

The Minister of State in the Ministry of Finance (SHRI JAYANT SINHA)

(a) to (c) Reserve Bank of India (RBI) has issued guidelines dated 20.11.2014 specifying that while levying charges for non-maintenance of minimum balance in their savings bank accounts, banks shall adhere to the additional guidelines given in the Annexure. The guidelines come into effect from April 1, 2015.

All banks have been advised to take immediate steps to update customer information so as to facilitate sending alerts through electronic modes (SMSs / e.mails etc.) for effective implementation of the guidelines.

Annexure Source: http://164.100.47.132/Annexture_New/lsq16/4/au918.htm

AIBOA reports on Meeting of IBA and UFBU 23rd Feb and Salient features of 10th Bipartite Wage Settlement for Bank Employees and Officers

AIBOA reports on Meeting of IBA and UFBU 23rd Feb and Salient features of 10th Bipartite Wage Settlement for Bank Employees and Officers

ALL INDIA BANK OFFICERS’ ASSOCIATION

Circular No.6/VI/2015

February 23, 2015

            Camp: MUMBAI

To:
ALL UNITS / STATE COMMITTEES

Dear Comrades,

    WAGE REVISION – 18TH ROUND.
    TOTAL QUANTUM CLINCHED.
    A NEW SERVICE CONDITION INTRODUCED.
    4 DAYS STRIKE CALLED OFF.

In the background of C.L.C.(Central) Delhi, counseling IBA and also representatives of the unions  to get back to the negotiation on 20.02.2015, in which Com.Alok Khare, Vice Chairmen, Com.S.S.Shishodia, President and Com.Sanjay Khan  Joint Secretary AIBOA participated and at the CLC’s advice IBA invited the unions for discussions on 23.02.2015.

To-day, a meeting was held at IBA office at 11.30 am.  Representatives of all the eleven unions participated in the discussions.

2.         IBA team was led by Shri.T.M.Bhasin, Chairman IBA, Smt.Arundhati Bhattacharya Chairman SBI, Smt.V.R.Iyer, Chairperson and Managing Director BOI, Shri.Rajeev Rishi,CMD,CBI,Shri.Ashwini Kumar,CMD DB, Shri.Arun Tiwari CMD UBI, Shri.Rakesh Sethi CMD All Bank, Shri.Animesh Chauhan MD&CEO OBC,Shri.Ashwini Mehra DMD SBI Shri.Shyam Srinivasan CEO Federal Bank, Shri.M.V.Tanksale CEO IBA, Shri.K.Unnikrishnan Dy CEO,IBA, Shri.K.S.Chauhan besides officials of HR department of IBA.

3.         While initiating the dialogue Shri.M.V.Tanksale CEO IBA expressed the progress made in the last 18 rounds and also the meetings held with the subgroups with workmen and officers during this period. Shri.Rajeev Rishi Chairman Negotiating Committee IBA, picked up the thread from the last discussion held on 3.02.2015 and reiterated that unions should come forward with the revised demand. Com.M.V.Murali, Convenor UFBU presented in a pointed way the chronological progress of the conduct of the negotiations and also the ‘U’ turn of IBA on 03.02.2015 vis a vis the assurance made on 19.01.2015 precipitating the crisis.

4.         Shri.T.M.Bhasin, Chairman IBA quoting the details of the earlier bipartite benefits, ultimately indicated the paying capacity of the individual banks is the deciding factor, indicated failure at Industry level to force a situation of individual bankwise settlement. He also appealed to appreciate the present situation in Q3 performance of various banks and realize the need to fold up the negotiation with the offer of further 0.5% increase from 13% made on 03.02.2015 by Shri,Rajeev Rishi, Chairman Negotiating Team IBA.

5.         Smt.A.Bhattacharya Chairman SBI in her pointed  presentation dealt the present position of Public Sector Banks vis a vis Private Sector Banks, present capital infusion announcement of Rs 6990 crores by Government of India and also to realize the need to finalise the agreement keeping in mind the various serious developments having global compulsions and also stipulations. To get the priority reallocation of PSB employees at par with Central government employees for the purpose of admission of the wards in Kendriya Vidyalayas by her efforts was also shared in the meeting.  Smt.V.R.Iyer, too supported the view points expressed by Chairman SBI and explained the need to function as a team to keep PSBs in tact and not to allow the Private sector banks to sneak in to capture the business from us..

6.         After protracted negotiations, ultimately the understandings have been clinched which are as follows;

a.  Date of Effect      1.11.2012.

b.  Total Increase of 15% in Payslip components- amounting of Rs 4725 crores.

c.  Construction of new Basic Pay by merging 60.15% of D.A impact where of not to exceed 2% of BP plus DA amounting Rs 597 cr.

d.  2nd and 4th Saturdays will be holidays and other Saturdays will be full working Days.

7.         Thus the exercise to construct new Basic Pay effective from 1.11.2012 has been initiated by sealing the agreement, with the first step to clinch a new working condition in the era of Information and Communication Technology explosion, quite nearer to our most important demand of 5 day working.

8.         AIBOA place on record the role played by Com.D.Raja CPI MP leading AIBEA –AIBOA delegation to meet FM on 19/02/2015 and making sincere efforts to break the deadlock in the Banking Industry avoiding paralysis of the nerve centre of the economy in the last week of this month., due to the proposed 4 days strike which now stands called off consequent to signing of MOU as above. Detailed Pay structures may now be worked out with IBA in subsequent meetings besides discussions other left out issues including of those pertaining to retirees.

9.         Comrades, while rejoicing this success of wage increase, let us not be complacent in our efforts to protect our Public Sector character of our Industry and also preserve the jobs and jobs security secured by the founding fathers of our movement.

CONGRATS !!!  YOU ALL HAVE MADE IT TO HAPPEN.

Yours comradely,

S.NAGARAJAN.

GENERAL SECRETARY

Source: AIBOA

IBA Official Minutes of meeting dated 23.02.2015 for 10th Bipartite Wage Revision – Bank Wage Revision from 01.11.2012

IBA Official Minutes of meeting dated 23.02.2015 for 10th Bipartite Wage Revision – Bank Wage Revision from 01.11.2012

Indian Banks’Association

Minutes of the discussions held on 23rd February 2015 between IBA representing 

Management of banks which are parties to the Bipartite settlement and 

Workmen Unions and Officers Associations on wage revision

Discussions were held between the Indian Banks’Association representing Managements of banks and the authorized representatives of Workmen Unions and Officers Associations on wage revision for officers in banks. After holding several rounds of discussions, the parties have mutually agreed as under:

1. The wage revision will be effective from 1.11.2012
2. The annual wage increase in salary and allowances @ 15% which works out to Rs.4725 crores on salary slip components.
3. The new scales will be constructed after merging dearness allowance corresponding 4440 points as on November 2011, which works out to 60.15% and adding a load factor of 2% on Basic pay plus Dearness Allowance as on 31st March 2012 amounting to around Rs.597 crores.
4. Distribution of annual wage increase between workmen unions and Officers Associations will be worked separately based on breakup of establishment expenses as on 31-3-2012.
5. Every second and fourth Saturday of the month will be a holiday and the other Saturdays will be full working days.
6. All other issues of the Managements and Unions/Associations discussed during the process of negotiation will be settled to the mutual satisfaction.
7. The parties will meet on mutually convenient dated to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus positions have been reached. The parties will endeavour to finalise the Bipartite Settlement/Joint Note within a period of ninety days from the date of this minutes.

Signed at Mumbai on 23rd February 2015

FOR MANAGEMENT	FOR OFFICER'S ASSOCIATIONS/ WORKMEN UNIONS
T M Bhasin	All India Bank Officer's Confederation
V R Iyer	All India bank Officers Association
Arundhati Bhattacharya	Indian National Bank Officers Congress
Rajeev Rishi	National Organisation of Bank Officers

Source Image by http://banknewskumar.blogspot.in/

Second and fourth Saturdays to be bank holidays, Remaining Saturdays will be full working days

Second and fourth Saturdays will henceforth be holidays for banks. The remaining Saturdays in a month will be full working days.

This was one of the agreements arrived at the meeting of the Indian Banks' Association with associations of bank employees and staff in Mumbai on Monday.

The agreement, primarily settling the long pending negotiations over the wage revision, led to the United Forum of Banking Unions (UFBU) deferring its four day strike plan later this month.

"It is a balancing act," UFBU (Andhra Pradesh and Telangana) Convenor VVSR Sarma told The Hindu about the agreement on the additional holidays. The influential body of the bank staffers was insisting that all Saturdays should be holidays.

By limiting it to two Saturdays and making other Saturdays full working day, the banks have ensured that the impact on the customers due to the additional holidays is less.

On the key wage revision component, Mr.Sarma said 15 per cent increase is what the IBA has agreed. The negotiations had hit a stalemate after the banks struck to 13 per cent, while the UFBU demanded 19 per cent. According to Mr.Sarma, the cost for the banks due to the 15 per cent hike that has been agreed works out to Rs.4,725 crore.

The agreement on the wage revision would be implemented with effect from November 1, 2012, he added.


Read at: The Hindu