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Friday, October 18, 2019

UFBU always asked IBA to improve the offer and never asked for specific increase).

Dear Friends

 Negotiations on wage revision are going on for last 2 years. Initially 4 officers’ organizations have shown the courage to prepare the Charter of Demands and demand salary revision based on Minimum wage concept (which has been scientifically designed and accepted by International Labour Organisation and implement our Govt. of India in 7th Central Pay Commission for its employees). However, this has always remained in paper only and in real terms, all the leaders of UFBU were discussing the wage revision on percentage basis (in that too they didn’t knew what was the desired level as they always asked IBA to improve the offer and never asked for specific increase).



Some of the top leaders (when enquired about the cause of their not demanding the salary revision as per Minimum Wages formula), said in murmuring tone that during all previous settlements, revision was done on percentage basis and ranged around 10-15%. Now, changing the formula to minimum wage concept will result into increase of more than 50% which is not possible. Hence, they are discussing percentage increase only. Now, if this is the perception of those leaders who are sitting in negotiations, then few questions arises:



If they are considering this increase impossible, then why they incorporated this demand in Charter of Demand?

Whether Charter of Demands is only for making fool of members if they are not going to demand/discuss things as per COD?

Whether they themselves understand the concept of Salary itself? Because salary is what and employee get in return of services offered by him/her and salary should be dependent only on job profile, risk, responsibility, transferability and status in society. It can’t (and shouldn’t) be linked to profitability of any organisation. Whether these so called leaders are themselves not understanding this concept?



Now, to prove that this much increase (even 50%) in salary is practically possible, let us analyse few data of major Banks:





SBI:

Total Employee Cost: 41055 crores

Operating Profit: 55436 crores

50% increase in employee cost: 20528 crores

Total Amount written off during financial year: 61663 crores



Punjab National Bank:

Total Employee Cost: 7048 crores

Operating Profit: 13170 crores

50% increase in employee cost: 3524 crores

Total Amount written off during financial year: 12253 crores



Bank of Baroda:

Total Employee Cost: 5039 crores

Operating Profit: 15519 crores

50% increase in employee cost: 2520 crores

Total Amount written off during financial year: 13102 crores



Bank of India:

Total Employee Cost: 6082 crores

Operating Profit: 8092 crores

50% increase in employee cost: 3041 crores

Total Amount written off during financial year: 7416 crores



Canara Bank:

Total Employee Cost: 5675 crores

Operating Profit: 10590 crores

50% increase in employee cost: 2838 crores

Total Amount written off during financial year: 14267 crores



Central Bank of India:

Total Employee Cost: 3566 crores

Operating Profit: 3127 crores

50% increase in employee cost: 1783 crores

Total Amount written off during financial year: 12139 crores



Union Bank of India:

Total Employee Cost: 3151 crores

Operating Profit: 7521 crores

50% increase in employee cost: 1576 crores

Total Amount written off during financial year: 7771 crores



All the above data are as on March 2019. These details are available on website of concerned Bank and can be verified by anyone anytime.



One more thing which has to be kept in mind that the employee cost as mentioned above includes each and every payment made to staff (salary, all other allowances, TA/HA, etc.), separate data of only salary is not available.



We can see that even after 50% increase in total employee cost (leave alone salary increase), all these Banks are still in good operating profits. One more important thing is noticeable that each bank has written off bad loans of defaulters in the range of 1.50 to 4 times approximately of total employee cost.



So, it can be inferred that our own great leaders (sitting in negotiations) are very happy in allowing such a hefty write-off to defaulters (which is a heavy burden on economy of our country too), but they don’t want to even demand the good salary increase (the formula for which has been internationally accepted and even implement by our central government also) for 8 lakh banker who are economic soldiers of country.





When the data also proves that salary increase even more than what Minimum Wage Concept envisages, is practically possible and implementable in Public Sector Banks, International Labour Organisation has accepted the concept, Our Central Government has implemented, many state governments have implemented, Honourable Supreme Court has accepted the need for it, then, still UFBU leaders (all concerned organisations) are playing the percentage game. Isn’t it a criminal offense (morally) to betray the innocent members who have accepted these fellows as leaders?



God give the wisdom to these leaders to rise upto the occasion and really fight for what Bankers deserve………………..!

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4 comments:

Srk said...

Very Nice article...very true... Everyone should send this link on all what's up group and to UFBU top leaders also

Anonymous said...

It is also known to ufbu leaders but they do not have courage to demand because they are all either purchased or spineless. All the negotiating committee members who have already retired should be kicked out.

Unknown said...

True all should be kicked out and no levy/monthly fee

Unknown said...

It's absolutely true our union leaders are playing in gloves and enjoying with management's greecing

Excellent eye opening article 👍 Everyone must read

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