Expected DA from November 2019 for banker minimum 35 slab

Expected DA Calculation Updated on 30.09.2019 on the basis of CPI announced for the month of Aug'19 (there is an increase of one point (7304.29) & for the month of Jul'19 and assumptions of CPI for the month of Sep.'19 as under:-

1. On assumptions if there is an increase of one point of CPI in the month of Sep'19. In this situation the expected (tentatively) increase in DA Slabs would come to 35 slabs and the total tentatively revised DA slabs would be 716 i.e. 71.60%.
2. On assumptions if there is an increase of two point in CPI data in next month. In this situation the expected (tentatively) increase in DA Slabs would come to 37 slabs and the total tentatively revised DA slabs would be 718 i.e. 71.80%.
3. On assumptions if there is an increase of three points in CPI data in next month. In this situation the expected (tentatively) increase in DA Slabs would come to 39 slabs and the total tentatively revised DA slabs would be 720 i.e. 72.00%.

what AIBEA and BEFI want from the govt? IS ONE day strike will fulfill the demand?

The AIBEA and BEFI banners for October 22nd strike(exclusively for merger of banks alone) and related dharna programmes are released.We are not able to understand the real reasons behind the strike,at this juncture.AIBOC/AIBOA has already deferred its strike,based on the assurance of formation of commitee by Finance secretary.The committee will look look into the issues arising out of merger of 10 banks.Now,what AIBEA and BEFI want from the govt?Are they not satisfied with the assurance of the govt?what else they want with respect to merger of banks?Definitely,there is confusion within UFBU,which is not resolved till date.The bipartite talks are slated during this month end.We don't know whether 5 day week,increase in wage load and pension updation issue will be taken up and resolved.One thing is to be seen .Whether next bipartite itself will be materialise or not ,no one can predict.If UFBU is not able to achieve its charter of demands now,it could be never be achieved in future.There appears to be deep differences within the constituents of UFBU.Another thing is NCBE has not joined the merger strike.Why?UFBU appears to be fragmented and unilateral.The Modi govt.is very fast in its financial sector reforms and at this rate,procuring a reasonable wage package and pension updation appears to be a tough task,which requires solidarity and total unity within UFBU.Will it happen?

Bank management want only officer/Manager in banking industry why????

Why I want to become an Officer in a Bank ?
1. I want to go to a different states and stay alone.
2. I don't want to spend time with my wife and children.
3. I don't mind if my children do not study well. I am least bothered about them.
4. I don't like to eat good food.
5. I like to eat roadside food that too at odd hours.
6. I want to forget all my relatives and childhood friends.
7. I like to stay with unknown people.
8. I want to live in a shabby Bank quarters without any maintenance for decades, without my wife and children.
9. I want to change places every 3 years or even 3 months.
10. I don't want to get good sleep.
11. I want to worry about increasing Bank deposit and advances.
12. I like to reduce Bank's NPA, and getting hit by all three segments... Management, customers and my own colleagues
13. I want to attend to Bank's Inspection report and give false certificate for all age old periods, even when I had not joined the bank
14. I like to be held accountable for seepage, quick mortality, time barred debts etc.
15. I feel holding double lock keys is better than holding my wife's hand.
16. I am interested in maintaining loan documents of customers, which are used by every other person in the bank branch
17. I like to be charge sheeted if any document is missing, which I have not seen at all after my joining the branch
18. I like to file suit and attend court cases to fight borrowers even when recovery chances are NIL and still assure my management I will recover all dues.
19. I like steep and unimaginable targets and interested in marketing although I don't have time beyond marketing the union government's time bound social objective para banking products
20. I get pleasure in obtaining false and bogus stock statements and still mark full DP
21. I like calculating Income Tax of all staff members and convince them for timely submission of investment proof.
22. I like to spend all the Sundays and holidays only at office and get insulted by my subordinates for asking them to come to office at least on few days
23. I like to follow up SMA accounts every day and to get irritating answers & still remain cool.
24. I like to keep custody of customers' jewels and be still responsible for any missing jewels or for their quality though I am not the only person handling them.
26. I like to rephase all the unsecured accounts, knowing fully well that they may not be repaid at all.
27. I like to update PAN card details, Aadhar card details etc etc of my customers.... 25000 accounts in a span of 7 days
28. I want to use my eyes, ears, brain,hands and legs only for serving people who may or may not recognise me, let alone show love or respects. If at all, I am ready to be booed by them for the smallest mistakes on my part.
29. I don't mind getting older soon.
30. Last but not the least, I like to be held accountable for all lapses and don't mind if my pension or any other benefit is held up.
31. It will teach you to forget your self respect and become insensitive for any insult from any direction
32. I want to wait indefinitely for revision of my salary and don't mind if I am in the lowest paid sector of the economy.
33. I don't cry if I don't get an opportunity to lend my shouldes to my parents in their last journey.

To avail the above benefits, please rush immediately to become officer/ branch manager

from vipin tiwari wall

Govt needs to exempt tax on interest earned under senior citizens scheme

In view of the declining interest scenario, the government should consider exempting interest earned by senior citizens under SCSS from income tax as the fiscal cost would be minimal, a SBI study said on Tuesday.

Under the Senior Citizens Savings Scheme (SCSS), a senior citizen can deposit up to Rs 15 lakh and the current interest rate is 8.6 per cent. The tenure of this scheme is five years with the option to extend it for three more years. However, the interest on SCSS is fully taxable, which is a major drawback of this scheme (the interest amount for Rs 1 lakh deposit for 5 years is around Rs 51,000 which is taxable).

“It will be fair if such amount is given full tax rebate as the revenue foregone by the government could be only Rs 3,092 crore, that will have the minimal 2 bps impact on government fiscal deficit,” said the SBI Ecowrap report.

Most of the banks, including SBI, have been reducing interest on fixed deposits in tandem with the Reserve Bank of India’s decision to slash its policy rate (repo), which will have a bearing on interest income of senior citizens.

With the RBI mandating banks to link lending rates to external benchmark from October 1, the stage is now set for instantaneous transmission of change in repo rate to lending rates.

RBI imposes restrictions withdrawal restricted to Rs 1,000 per account on Punjab and Maharashtra Co-operative Bank

The Reserve Bank on Tuesday imposed operational restrictions on Punjab and Maharashtra Co-operative Bank (PMC Bank), resulting in chaos outside its branches in the financial capital. As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans. The RBI monitors banks’ health and issues such directions in case of concerns over financial health of an institution.

However, no reasons were specified by the central bank for its restrictions on PMC Bank. “The issue of the directions by the Reserve Bank should not, per se, be construed as cancellation of its banking licence. The bank will continue to undertake banking business with restrictions till further notice/instructions,” the RBI said in a notification. The restrictions will be in force for six months, the RBI said.

According to PMC Bank’s website, the lender was awarded the scheduled status in 2000 and has a presence in multiple states. The bank could not be reached for comments immediately.

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100% FDI in coal mining: Complete strike at Coal India -but bank union failed

Trade unions on Tuesday claimed that production and dispatch has come to a "complete halt" at the mines of Coal India Ltd and Singareni Collieries Company Ltd, owing to the one-day strike against the Centre's decision to allow 100 per cent FDI in coal mining.

Five federations representing over half-a-million workers of CIL and Singareni Collieries have called for the strike, seeking withdrawal of the central government's move.

"Strike is total with complete stop in production, transportation and dispatch of coal from all mines -- Assam to Singareni," All India Coal Workers' Federation General Secretary D D Ramanandan told PTI.

Coal India, which accounts for nearly 80 per cent of the total output of the dry fuel in the country, is likely to lose around 1.5 million tonne of production due to the stir.

Officials of the mining major were not available for comments.

Unions that served one-day strike notice are Indian National Mineworkers' Federation (INTUC), Hind Khadan Mazdoor Federation (HMS), Indian Mineworkers' Federation (AITUC), All India Coal Workers' Federation (CITU) and All India Central Council of Trade Unions (AICCTU).

Meanwhile, RSS-affiliated labour union Bharatiya Mazdoor Sangh (BMS), which is not a signatory with other federations to the one-day strike notice, is observing a five-day ceasework from Monday till September 27 on the same issue.

CBI arrests PNB manager for taking ₹1 lakh bribe to disburse loan FOR PURCHASE buffaloes

The CBI arrested a Punjab National Bank senior manager and his accomplice on Tuesday for taking a bribe of ₹one lakh for disbursing loans for purchase of buffaloes, officials said.

Sumer Singh, senior manager at the PNB's Kanwali branch in Rewari district of Haryana, and his accomplice Satish were nabbed by the agency while the latter was accepting the bribe from the complainant, they said.

A loan amount of ₹24.72 lakh to the complainant was approved by the Animal Husbandry Department for running a dairy unit in Kushpura, according to the FIR.

"The accused was demanding bribe of ₹one lakh in lieu of part disbursement of ₹7.92 lakh against purchase of buffaloes...the accused allegedly directed the complainant to hand over the bribe amount to a middleman (private person)," CBI spokesperson R K Gaur said.

The CBI laid a trap and caught the middleman (private person) red-handed while accepting the bribe of ₹one lakh from the complainant on behalf of the accused senior manager of Punjab National Bank, he said.

"Both the accused have been arrested. Search was conducted at the premises of accused at Mohindergarh (Haryana)," Gaur said.

48 hours bank strike deferred - Bipartite may be finalized before 30 th September

A source say with 48 hr a high power committee will be formed to look after the matter regarding  Merger  and 11th Bipartite . Next Bipartite meeting most probably will be held either 27th or 28th September  for Bipartite  settlement .Discussion will be with full mandate upto scale 7 and 5day banking. . As per source  Finance Secretary hints regarding percentage of wage revision  is more tham 15%. Please wait for few time  I will post as and when received authenticate news.

Today a delegation of four officers'  organisations met Shri Rajeev Kumar,  Finance Secretary and had a threadbare discussion on various issues related to our strike call on 26th & 27th September'19. All of the undersigned attended the meeting. It was assured that a high power committee will be formed to look into the related to mergers and the issue of retaining their identity. We also discussed our  Wage Revision, 5 day week, Reduction of Cash transaction hours, Issues of Retirees, issues related to cross selling etc. Shri Rajeev Kumar assured us that all the issues will be addressed. The issue of clear mandate upto Scale was cleared. On behalf of DFS , it was requested to revisit our decision of the strike.

In view of the positive commitments, it is felt that we should defer our strike decision.

Sunil Kumar Chairman

Debasis Ghosh President

Soumya Datta General Secretary

11TH BIPARTITE LOAD FACTOR AND DA FORMULA IN DETAILS

Merging of public sector banks is an attempt to transfer losses made by the corporates to the common man-----Revenue Minister E.Chandrasekharan

It is an attempt to transfer losses made by corporates to common man’

Merging of public sector banks is an attempt to transfer losses made by the corporates to the common man, Revenue Minister E.Chandrasekharan has said.

He was speaking after inaugurating the third national conference of the All India State Bank of India Employees Association here on Saturday.

Transfer of losses

“The history of SBI, as well as the history of public sector banks are integral to India’s journey towards a democratic welfare republic. It was upon this platform modern India was built. Profits are now being privatised in India. At the same time, losses are nationalised. Now, we have capitalism for the poor and socialism for the rich. Merging of banks is nothing but transferring the losses made by corporates to the common man. The whole working class of the country should unite to fight this injustice,” said the Minister in his inaugural address.

J.P.Jhawar, chairman, AISBIEA, C.H.Venkatachalam, general Secretary, AIBEA, Former MP Pannian Ravindran, K.S.Krishna, General Secretary, AISBIEA and around 700 delegates from across the country were present at the inauguration. Naresh Gaur, President, AISBIEA delivered the presidential address.

Recession concerns

Naresh Gaur said that the merger plan is not in favour of the bank employees, the economy or the citizens.

“The conference is being held at the time of concerns of recession globally and in our country. Reduced purchasing power and income of common people, price rise, job losses, unemployment, farmers distress, declaration in GDP growth, decline in manufacturing output etc are worrisome. Banking policies must be redesigned with welfare and well-being of the masses in mind. The merger plans are not working in favour of the bank employees or the country’s economy or the citizens. The employees must protest against this unacceptable situation created by the Central Government,” said Mr.Gaur.

The conference will conclude on Sunday with the adoption of resolutions and election of office-bearers.

DO YOU WANT CHANGE OR WANT REVOLUTION WITH PRESENT UNION

DO YOU WANT CHANGE  IN PRESENT LEADERSHIP?? IF YES WHY YOU WAIT TILL NOW ???

UFBU Convener never speaks a word about wage revision - what for he is there???
@Sanjeev Bandlish

Can We believe unions call for indefinite strike this time, when they didn't call for SBI & BOB, Vijaya & Dena Banks mergers 

What is the logic behind AIBEA's strike call on 22/10 after one month of Officer unions' ?

Officer union will call indefinite strike from 3rd week of November

Officer strike program against merger affects banking system for 7 days.. Strike is a well planned one and a bold one... Indefinite strike is also being discussed .. Let their strike achieve a grand success.. Merger must be stopped ...

Officer union  is ready to call on strike in next stage  for 5 days from 18 th  November or  indefinite  from end of november 2019. But till today workman union throwing stone everyday toward officer union. What is this? is this unity? Is workman union really want to fight against Govt decision like  merger, wage revision 5 days banking. Workman union always say " Workman officer unity Zindabad  "   but I think it is only paper slogan  not  from heart. How only 5.5 lakh workman figh agaisnt government  avoiding the power of  8.59 lakh officer  in banking industry.

Goyal said public sector banks are the reason behind the development we see today

Union minister Piyush Goyal Friday batted for continued government ownership in banks and other key industrial areas saying privatisation is not the panacea for all the ills facing the economy as the private sector is plagued with more scandals than their state-run peers.

Chairing a panel discussion at an India Today event here this evening, he said, "there are more scandals in private banks today than we have in public sector banks. There are more scandals coming out of private sector companies and private sector-run non-banking finance companies and housing finance companies.

"Our government is trying to clean up the mess. So I don't think privatisation is the panacea for all the problems we face," he said.

Lauding the role that public sector banks have played in overall economic and social development, the minister said they are the reason behind the development we see today.

They are the reason behind the national infrastructure we have across the country be it power plants or others. No private banks has given money to young entrepreneurs to start businesses but government banks that stood by them," Goyal said.

Taking a dig at the "cozy banking" that private sector lenders are comfortable with, he said, "public sector banks have done huge work for the country, while their private sector counterparts are looking at cozy lending to very, very safe borrowers and not to the poor farmers.

"We must and continue to support the public sector and it's time to recognise their role in nation building. But this does not mean that we should not privatise or disinvestI support disinvestment as well, Goyal concluded.

Conspiracy by Fin Min continues. This is war on PSU Banks.

Conspiracy by Fin Min continues. This is war on PSU Banks.

First announce free loans, then false loan waiver announcement causing willful default tendencies among borrowers, then provisioning on NPAs, then OTS with loss booked to banks balance sheet, then accountability of banks and bankers, then non performance of bankers, then bank merger, no salary increments, then PLI. This to continue till full closure of PSU banks. Point to be noted that no PVT Banks are participating in loan Mela. My dear friends, time has come to expose the sinister intention of this PAKODA Govt and fix accountability of these thieves. As the devil is in the details, we need to reach the depth where the infection is and apply medicine there. This is the new level where this sinister govt is attacking Bank and bank employees and is almost winning. We will have to fight this war at this depth else we will surely lose. We can't be in denial for this long. Our denial is their weapon of Mass Destruction. Unions need to take a stand against political interference in loans by PSU banks. Or else our future is uncertain or certain doom. We must urgently and seriously urge our Unions to take this seriously if we need our future to be secured. Or else this MAD man and his team of blind and illiterates will not stop until they reduce this country and economy to dust.

One more foolish idea by unions..one day strike for merger of banks.

One more foolish idea by unions..one day strike for merger of banks..
This is mere sidelining of 10 lakhs bankers aspirations, time and money..
My thought would be..if at all we go for strike..it should be mainly for WAGE REVISION followed by rest of the demands..
I don't understand why unions were narrow minded in this regard..
Pardon me if my words are harsh

Strike means wasting of our money. No positive outcome yet we get from this. Govt or bank doesn't loose anything, strike just make their transactions delayed by 1 or 2 days that's all

This is political strike given by leftist AIBEA and BEFI both are affiliated to CPI and CPM.My humble request to all members not to participate 👎 in this strike.

These leaders are not bold enough to compel the IBA for Honourable bipartite settlement. Time is being consumed for hefty levy.

ONE DAY DRAMA AGAIN 22ND OCTOBER BANK STRIKE BY WORKMAN UNION

Dear

Friends/ Comrades     All of you already knows that our beloved  two workman union called  All indian Bank Strike with below mention demand. Regarding this strike I have few question  to our beloved work man union as a common banker because  at present i am not holding any post of any union or any political party.

1> What is the utility of One day strike ?

2>  Why strike call in the middle of week instead  of Monday?

3> Why this strike  not call on 30th September??

4/> Is it a drama/eyewash/or gotup game with IBA

5> Wage revision and 5 day banking are not in their main agenda .then why?

6>Everyone  should boycott these dramatic strikes...

7>22nd October is far off by that time merger is over just drama why not now?

8> Every prudent banker must oppose this meaningless strike aimed at getting a political mileage for the leftist godfathers of the AIBEA.Why not it was called for the wage revision and other related issues.

9> If workman honestly  want wage revesion and fight against merger then they should call strike on 30th Sep and 1st October  The strike call by AIBEA in 22 October is unwarranted for and would have no significant.

10> Railways union are united for the benefits of their members and our union memeber are divided ..unions have also lost their credibility for thier selfishness and not taking hard and proper steps in past..we members and union leaders have opened the door for privatization and merger


  

CLC MEETING FAILED 26&:27 th SEP STRIKE CONTINUE

Meeting held with CLC(C) at Delhi today. Major issues discussed a) Proposed Amalgamation/Merger of Banks b)Unconditional Wage Revision c)Pension and other related issues as per our strike notice. No concrete commitment was made by representatives of IBA and DFS. Circular follows.
*Strike stands*
*AIBOC/AIBOA/INBOC/NOBO*

only six banks that were eligible to give PLI. as per IBA guidelines data

Bank trade unions on Tuesday said the improved offer of a 12 per cent increase in the pay slip cost by bank managements is unacceptable to them. The earlier offer was at 10 per cent.

“The nine trade unions, under the aegis of the United Forum of Bank Unions, welcomed this improvement, but informed that this offer is not acceptable, as the offer has to be at least more than 15 per cent, which was settled under the 10th settlement from 2012 to 2017,” said CH Venkatachalam, General Secretary, All India Bank Employees Association.

Unions expect that bank managements, under the aegis of the Indian Banks’ Association, would reconsider and improve their offer so the settlement due from November 1, 2017, would be concluded early.

All-India bank strike

The wage negotiations took place in the backdrop of four officers’ organisations – All-India Bank Officers’ Confederation (AIBOC), All-India Bank Officers’ Association (AIBOA), Indian National Bank Officers’ Congress (INBOC) and National Organisation of Bank Officers (NOBO) – calling for an all-India bank strike on September 26 and 27 to protest the merger of public sector banks and demanding expeditious settlement of wages and other issues.

S Nagarajan, General Secretary, AIBOA, said: “A discussion was held on performance-linked incentive (PLI). The basis for the PLI, which will be over and above the industry-wide wage settlement, are operating profit and return on assets. Going by these parameters, as on March 2008, there were only six banks that were eligible to give PLI.

“They have offered a hike in the wages from 10 per cent to 12 per cent. One per cent increase amounts to ₹526.50 crore.” Earlier, bank managements had offered fixed pay and variable pay of 8 per cent each.

Nagarajan emphasised that in the conciliation meeting held with the central labour commissioner (CLC) in May last year, the CLC had advised the IBA to commence the discussions at 15 per cent

In India banks have more officers than clerks; how the situation changed in just 15 years

Indian banks have more officers than clerks and subordinates as officers account for nearly two-third of the total workforce and clerks and subordinates account for just one third. It is completely opposite of the situation 15 years ago when there were at least two subordinates, clerk or peons, for every bank officer. According to the latest official data about the manpower in the scheduled commercial banks, nearly 14 lakh people were employed in the banking sector in the country in March 2018 and 8.6 lakh or nearly two-third of them were officers. In 2003, more than 9 lakh people were employed in scheduled commercial banks and officers accounted for less than one-third of the total strength at 2.87 lakh, clerks (4.19 lakh) and subordinate staff (1.95 lakh).

According to the basic statistical returns of the scheduled commercial banks, Indian banks have become extremely top-heavy organisations. It shows that modern banking has evolved as a highly specialised job requiring more people in executive capacity.

According to the official data, there were 13.80 lakh bank employees and officers at the end of March 2018. Of the total manpower in the banking sector, 8.59 lakh were bank officers while the number of clerks was 3.6 lakh and banks also had 1.61 lakh subordinates, mostly peons etc

Merger Of Bank Of Baroda-Dena Bank-Vijaya Bank Is Far From Complete even one year already over

On Sept. 4, the heads of 10 large public sector banks met with the top management at Bank of Baroda. The agenda—understand what goes behind a complex merger process involving two or three public sector lenders. 

On Aug. 31, the government abruptly announced that it will merge 10 public sector banks into four. It drew confidence from the merger of State Bank of India with its associate banks in 2017 and the consolidation of Bank of Baroda with Dena Bank and Vijaya Bank, announced in 2018. 

Top executives of the 10 lenders who are preparing to begin the consolidation spent nearly the entire day at Bank of Baroda, leaving with the realisation that the process ahead was a long-drawn one. 

The merger of Bank of Baroda with smaller peers Dena Bank and Vijaya Bank was itself announced exactly a year ago. In that time, a core team in-charge of the merger had dealt with issues ranging from re-organisation of employees to merging of IT systems. Most of these remain work-in-progress, while some other tasks such as a rationalisation of branches and ATMs are just beginning. 

No VRS But Option To ‘Disassociate’ 

One of the first issues that the banks will deal with is reorganisation of employees. Bank of Baroda’s employee base shot up to nearly 85,000 on April 1, as compared with 56,000 on March 31, owing to the merger. Since the government had promised that the mergers will not entail job losses, the merged lender has not been able to trim its workforce. Instead, Dena Bank and Vijaya Bank offered an exit option to employees under a scheme to ‘disassociate’ from the lenders if they choose. Under the scheme, the employees would forego the remainder of their service periods and be paid pensions as per their existing pay scales. Unlike in a Voluntary Retirement Scheme, there would be no one-time payout. 


About 250-260 employees from Dena Bank and Vijaya Bank opted for an exit using their right to disassociate from the bank, said a banker directly familiar with the matter, who spoke on condition of anonymity. 

With few exits, the banks had to step up provisions for pensions. 

Dena Bank and Vijaya Bank were assessing pension liabilities using mortality rates as assessed in 1993-94, while Bank of Baroda followed mortality rates based on 2011 data. To cure this, it was essential for both smaller banks to increase pension provisions, said the banker quoted above. 

In the January-March quarter, Dena Bank made provisions worth Rs 1,040 crore for employee expenses, while Vijaya Bank made provisions worth Rs 885 crore. The respective provisions were at Rs 481 crore in the April-June 2018 period. 

We had a fair idea of the challenges as far as reshuffling employees goes, but the Bank of Baroda experience made us realise how deep these issues can be, said a Union Bank official who attended the meeting. It could be as simple as officers not getting a good enough office in their new posting, which can cause unnecessary disruption, the official said,while speaking on condition of anonymity.

 Merging IT Systems: Easier Said Than Done 

Bank of Baroda is also still to complete the IT integration across the three banks, even though work on this is in advanced stages. While most public sector banks work on Infosys’ Finacle platform for their core banking operations, each bank has its own version of the platform, which is customised to its needs. Bank of Baroda had been functioning on ‘Finacle 10’, while the other two banks worked on ‘Finacle 7’. Over the past year, Bank of Baroda has been working with Infosys to create a tool to merge the two systems. 

According to the first banker quoted above, the tool is in the testing phase and is about two months away from being implemented. For now, Bank of Baroda is working with three separate core banking systems, where the data is merged in the data centres at the back-end. 

In an emailed response, an official spokesperson for Bank of Baroda said that the bank had already flagged off a 12-18 month timeline for migration to a unified core banking system. Infosys did not respond to an email on Wednesday. 

According to a official from Punjab National Bank, who attended the meeting with Bank of Baroda, the problem of merging different versions of Finacle is likely to plague their merger with United Bank of India and Oriental Bank of Commerce as well. Both United Bank and OBC are on different versions of Finacle, this official said, adding that tools being developed for Bank of Baroda can be applied for their impending merger as well.

The Little, Big Things

 Apart from big items like IT integration, Bank of Baroda continues to deal with a number of small issues. 

Among them is identification of branches and ATMs that need to be closed due to overlaps. So far, 500 branches and ATMs have been identified. In total, about 1,000 branches and ATMs could be closed or merged when the consolidation is complete, the banker quoted above said. 

A number of other customer facing issues have to be resolved. Fresh Indian Financial System Code and Magnetic Ink Character Recognition codes have to be distributed among customers. Passbooks and cheque books have to be reprinted, branding has to be reworked. At present, Bank of Baroda is about half-way through the process. While pass books and cheque books have been issued, fresh IFSC and MICR codes are yet to be issued, the banker quoted above said. Since the merger of the core banking systems is still under process, Bank of Baroda has taken special permission from the Reserve Bank of India to allow customers to continue using their old codes, the banker said. 

The official spokesperson for Bank of Baroda confirmed that the bank had received permission to continue with the old IFSC and MICR codes, till further communication. Customer integration might look like an obvious part of a merger, but it could take anywhere up to 24 months, said Anil Gupta, vice president and head of financial sector ratings at ICRA Ratings.

 A Cautionary Tale 

The continuing merger pains at Bank of Baroda, even a year after the consolidation process was initiated, is a cautionary tale to the 10 lenders who are in the process of formally initiating consolidation. 

Lalitabh Shrivastava, assistant vice president for banking research at Sharekhan, said that PS Jayakumar, chief executive of Bank of Baroda, will likely spend the remainder of his term in completing merger-related work, rather than focusing on growing the bank’s balance sheet. Jayakumar had received a one-year extension on his term in October last year. Likewise, the chief executives at the lenders being merged, too, will spend most of their time on the consolidation process. 

According to Saswata Guha, director at Fitch Ratings India, a public sector bank merger could take up to 24 months to complete from the date of the balance sheets being merged. While growth could suffer during this period, the consolidation is not the sole reason behind this, he said. “Growth issues are mostly due to individual balance sheet issues and low capital base for these banks. However, the consolidation process is surely a distraction from the current issues plaguing the system,” Guha said.

Big Question? Is it merger or amalgamation?

Branding may become one of the most debatable issues in the mega merger of public sector banks (PSBs). Among other committees formed by banks to implement the merger is a committee on branding, which will look into the issue of logo and name of the bank, said the head of a PSB. “This is technically not a merger, but an amalgamation, wherein each bank maintains its unique identity. Every bank would want to retain its unique identity. We can also discuss if the amalgamated entity should have a new logo and a new name,” said Ashok Kumar Pradhan, managing director  ubi

JOINT PRESS RELEASE BY FOUR OFFICER UNION REGARDING TODAY'S TALK

IF YOUR CONSCIENCE PERMIT JOIN AIBOC STRIKE CALL OTHERWISE ! BOYCOTT.....

IF YOUR CONSCIENCE PERMIT JOIN AIBOC STRIKE CALL OTHERWISE ! BOYCOTT.....

Dear comrades,

WHY TO BOYCOTT ?

1. Bcoz, AIBOC supported and welcomed SBI Associate bank merger!

2. Bcoz, Even today many of the state and All India units of of AIBOC in many banks welcome the merger.

3. Bcoz, without the support of Employees union if you give for strike it will not have any effect.

4. Bcoz, We want United Fight.

5. Bcoz, Wage revision and merger are different issues, can not be combined & put together.

6. Bcoz, Bipartite Talk process was derailed by AIBOC due to its arbitrary bycott decision not to partcipate in talks.

7. Bcoz, in meeting of UFBU on 12th Sept.2019, unanimous decision was to hold day long Dharana ar Delhi and handover a memorandum to Hon'ble FM.

8. Bcoz, AIBOC's arbitrary 2 days strike action undermines Unity & United struggle, it' sinister in nature solely based on Division, hence rejectable & condemnable.

9. Bcoz, in same arbitrary manner, earlier 2 days strike, followed with Dharana and Rahul Milan brought great disrepute, disrespect and humiliation to officers, since it evoked no response at all.

10. Bcoz, earlier strike action was humiliating one, resulted in knee walk to Cinnamon meeting. All 4 Officers Unions then knee walked to Mumbai and climbed IBA office by knee to handover a memorandum to resolve stamate.

11. Bcoz, they walked on knee to Sunil Mehta, Chairman, IBA, at his PNB office, New Delhi. IBA or Sunil Mehta didn't formly respond even their Memorandums. They responded UFBU letter, advising to approach respective banks in mandate matter.

12. Box, merger gas been on going processes and related to policy Decision of government. It doesn't touch ownership status of our prime concerns. Now, opposition of merger is just for opposition and now it nothing more than rhetoric and gimmic.

13. Box, wages, pension, service conditions are of prime importance to which AIBOC is adopting explicitly casual and callous attitude.

14. Bcoz, AIBOC just repeats it old history of ditching tricks & tactics. It's a mental case, clearly visible from present stand. It wants taking a leading posture to show, they are right and rests are fools .

15. Bcoz, history stands to testify that they always permitted a separate line from the common line of Bank employees movement.

First, they divided AIBEA in 1953 under their love to SBI, now the ditch entire Banking fraternity, just because SBI is safe & secured under SBI manage- ment.

AIBEA & UFBU have always been right path. Still they are trying to take all on board and face the challenges UNITEDLY, but AIBOC is pursuing different path ofDIVIDER UNITY.

AIBOC is trembled by the jolt it got from all corners. It's now hostiled, prejudiced and have lost sense.

Now, instead taking IBA, government, management as enemy to banking fraternity, they have made AIBEA and other workmen Unions as their enemy and out to crush them.

Does it appeal to any bank cadre?

Banking can't be taken to ransom. Banking is financial life line of nation.

One is not free to do anything at his whims and fancies.

We have to be a responsible Trade Union, cant be wreckless in approach and behavior.

J. N. Shukla PRAYAGRAJ 17.9.2019

Who is responsible for the worst condition of the bankers

Who is responsible ?

1> Bank officers have no fixed work hours.
2> They have no work life balance.

3> They always remain under pressure.

4> Their service condition is so bad, suicides are increasing.
5> Their life has become miserable.
6>They have no clear transfer policy.
7> They have to do cross selling of third party products so that their bosses get foreign tours.
8> Bank officers face abuse and attack from public for no mistake of theirs.
9> They have very poor social status.
Recruitment of officers is inadequate to meet the demands of the industry.
10> They have huge pressure on them for recovering NPAs.
11> They have to implement all govt policies, but their salary is nowhere when compared with counterparts in the govt.
12> They have not got a clear mandate for this bipartite yet.
Bank officers are to face criminal procedures for the errors committed while in service.
13> Their superiors treat them very badly.

But the real question is, who is responsible for this mess ?

Leaders of workmen union or Officer union or both ?

Bipartite update as on 17.09.2019

Today’s talks with IBA were very cordial and lot of improvements have taken place in various aspects..Wage offer was improved to 12%..Quantum wise it is around 6250 cr..Still we didn’t agree to it and demanded for more wage  increase... Discussions on PLI started and will continue furthur...IBA informed that they have positive open mind on mandate issue for officers..IBA is willing to discuss Updation of pension and improvements in Family pension furthur..Circular follows...Bsr

In todays Meeting with IBA  the following subjects were discussed
.
1. Wage Offer increased from 10% to 12%

2. PLI rejected by us
3. Positive response on Pension upgradation .
5. Five days a week was also discussed positively.
6.We will not be part of 20th Sept Dharna at Delhi NOBW

WHICH UNION IS RESPONSIBLE FOR POOR SALARY STRUCTURE OF BANKER

The present POOR salary structure of Bankers" which union is most responsible??

pLEASE PUT yOUR VotE

AIBEA/AIBOA

Voters for this option

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• +1K

AIBOC

Voters for this option

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• +93

NCBE

Voters for this option

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• +43

NOBO/NOBW

Voters for this option

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• +5

INBEF/INBOC

Voters for this option

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• +4