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BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Saturday, November 30, 2019

Federal vank union againt bank managemet action

Dear friends,

Federal Bank is the largest first generation private sector bank in the country. This Kerala-based Bank has grown to this stature with the generous support of its 90 lakh valued customers. Combined with the hard work of the employees and the cooperation of the stakeholders, the bank's business reached a level of Rs 2,55,000 crore.

 In recent years, the bank's top executives, who came to the bank with profit-motive, are adopting a line  of approach that deals a blow on the expectations of ordinary customers, who love and trust the bank.

It is imperative that the Management has to change the policy of setting extremely high minimum balance in savings bank accounts of customers, imposing excessive service charges for banking services, and demanding heavy charges for cash receipts and payments over the counter. The management is extracting this money from the public for filling the coffers of the top executives by way of non-transparent benefits in the names of salary, equities, interest-free loans, joining bonuses etc.

There is no need of great wisdom to understand that when the management shifts their focus from the natural growth of loan portfolio through small and medium loans to ordinary people to abnormal growth through loans to corporates, it will reflect in the growth of bad loans too. We have many examples in recent banking history.

Federal Bank, based in Kerala, though a private sector bank, had been following people orientation like public sector banks. But now there is a concern that not only the Federal Bank will lose its mass banking character, but also the State will lose the bank, which played an important role in its development. Many of the major departments of the bank now operate from Mumbai. One Executive Director who is just below the rank of MD is stationed in Mumbai now. Another Executive Director, who had also been stationed at Mumbai and enjoyed unduly high benefits from the bank, suddenly resigned after three and a half years of service and migrated to Axis Bank. This migration happened just four months after the Bank's Annual General Body meeting had given him extension for another two-years. He was in charge of  corporate credit portfolio of the bank and had increased the corporate advances of the bank from Rs 16600 crore to Rs 55,500 crore within this 3 1/2 years. Now the news that the advances given to some corporates including Anil Dhirubhai Ambani Group (ADAG) are turning into NPA is causing anxiety.

Shri. Shyam Srinivasan, MD & CEO of the bank, who refuses to answer the questions raised by the employees and their organisation with regard to the shift from people-orientation to thrust on corporates, is attempting to intimidate the employees through threat of transfers. All the norms of justice and fair play are being violated. There is an attempt to destabilise the Union by transfering its Secretary to Tamilnadu in violation of the Transfer Policy Settlement signed between the Union and the Management under the ID Act forty years back.

Federal Bank employees have never been willing to give up their hard-earned rights. The history of the Federal Bank Employees' Union is replete with stories of fights and sacrifices made by them to earn and protect the rights. The new generation of Federal Bank employees, who are the inheritors of that history, are poised to perform their duty in the action field. Employees are forced to take to take up such a position, since the Management is not ready to resolve issues through discussions. We seek the support of our dear customers and the right-thinking and progressive people and working class and mass organisations in this struggle.

Protect Mass Banking!

Withdraw the extremely high Minimum Balance and Service Charges which drive away Ordinary Customers!

Modify Bank’s wrong Business Policies!

Stop action intended to curtail Trade Union Freedom!

Honour Settlements !

Friday, November 29, 2019

XI BIPARTITE SETTLEMENT* *Core Committee Meeting (Workmen)* held on 28 November 2019

*XI BIPARTITE SETTLEMENT*

 *Core Committee Meeting (Workmen)* held on
      28 November 2019

As decided during Main Negotiations Committee Meeting held on 15 Nov, '19 : Core Committee (Workmen) Meeting was held today at IBA Office, Cuffe Parade, Mumbai.

          *Discussions*

*1.*  Adoption of New Series of C. P. Index for D. A. calculation and formula for DA calculation to be decided during the next Main Negotiating Committee Meeting.

*2.*  Union demand for PL accumulation upto 300 days & it's encashment on retirement to be put before Main Committee.

*3.*  For Adoption of Child upto 1 yr ML agreed with certain conditions.

*4.*  Sabbatical Leave to all employees. The matter is left to individual banks.

*5.*  LFC : There will be improvement in distance permitted to Sub Staff.

*6.*  LFC : For Workmen employees travel by own car permitted. At par with provision for officers.

*7.*  LFC :  with package tour not permitted.

*8.*  Outsourcing : From the earlier clause " as per RBI guidelines to be done for non core activities." It is agreed to *remove words as per RBI guidelines.*

*9.*  OT : For simplified & improved method note is submitted by Unions. To be discussed further.

*10.* Punishment : For gross misconduct, *fine* as punishment may be removed.

*11.*  Ex Servicemen : Only the guidelines issued by "Dept of Financial Services" of Govt of India to be followed uniformly.

*12.* Unions wanted time gap between Business hours and Working hours should be 2 hours instead of present 1 hour. This demand was rejected outright by the IBA.

Whatever is accepted is subject to final approval at Main Committee level.

 Negotiations may take decisive turn during next meeting on *3 Dec, 2019.*

Vijaya Bank, Dena bank removed from second schedule of RBI Act

The Reserve Bank of India on November 28 said it has excluded Vijaya Bank and Dena Bank from the second schedule of the RBI Act, with effect from April 1, 2019.
"Vijaya Bank and Dena Bank have been excluded from the second schedule to the Reserve Bank of India Act, 1934 with effect from April 1, 2019, since they have ceased to carry on banking business with effect from April 1, 2019," RBI said in a notification.
The public sector lenders were merged into Bank of Baroda at the beginning of the current financial year and, hence, ceased to operate as banking companies separately.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query. 

Of this, 75 per cent of the affected branches belong to the country's biggest lender State Bank of India (SBI). 

To a query under the Right to Information (RTI) Act filed by a Neemuch-based activist Chandrashekhar Gaud, the Reserve Bank of India (RBI) informed that 26 PSBs of the country either closed or merged 90 branches during FY 2014-15, 126 branches in 2015-16, 253 branches in 2016-17, 2,083 branches in 2017-18 and 875 branches during 2018-19. 

The RTI information came out at a time when the Centre is planning to consolidate 10 PSBs into four mega state-owned lenders. 

According to RTI reply, the maximum 2,568 branches of the SBI were affected due to merger or closure in the last five financial years. 

The RBI informed that Bharatiya Mahila Bank, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore were merged with SBI with effect from April 1, 2017. 

In addition, the merger of Vijaya Bank and Dena Bank with Bank of Baroda came into effect from April 1 this year. 

Meanwhile, employee organizations of public banks have opposed to the government's new plan to consolidate the banking space. 

All India Bank Employees' Association (AIBEA) General Secretary C H Venkatachalam told PTI that at least 7,000 branches of these banks likely to be affected, if the government forms four big banks by out of the ten state-owned banks in the country. 

Most of these affected branches will be from the metros and cities. 

Venkatachalam expressed apprehensions that the proposed merger would decline the business of the PSBs concerned. 

It is generally seen that customers stop banking with the branch, once it was closed or merged with another one. 

However, economist Jayantilal Bhandari said that merger of PSBs is the need of the hour. 

"The state exchequer will benefit after creation of big banks by merging smaller public sector banks. 

In addition, the large state-run banks will be able to distribute relatively more loans to the common people due to their strong financial condition, which will spur the economic growth in the country," he said. 

Tuesday, November 26, 2019

TDS on Cash Withdrawal: New Income Tax notification details and who will be affected – Explaine

hdrawal.
The Ministry of Finance recently notified Form 26QD for TDS Return and Form 16D for TDS Certificate under section 194M and 194N of the Income Tax Act. Sameer Mittal, Managing Partner, Sameer Mittal & Associates LLP, breaks down details of the notification. Mittal told FE Online, “As per section 194M any individual or an HUF, which is not subject to tax audit and is not required to deduct TDS under section 194C, section 194H or section 194J and is making payment to any resident for carrying out any work, commission, brokerage or fees for professional service, shall deduct a sum equal to 5 per cent as TDS and deposit the amount with the Government.
As per the notification, the liability to deduct TDS will arise when the amount paid in one go or multiple instalments exceeds Rs 50 lakh. The TDS so deducted is required to be deposited within 30 days from the end of the month in which the deduction was made and shall be accompanied by a challan-cum-statement in Form 26QD, said Mittal.
Additionally, an individual is required to issue the TDS certificate to the deductee in Form 16D within 15 days from the due date for furnishing the challan-cum-statement in Form No.26QD.

Positiln of a common banker

I start working from 10 am .. sit in my seat and start attending the long queue of customers..After 2 hours  I stand up after sitting for more 2 continuous hours  ... Can anyone imagine how bad the knee hurts ? 

I drank 2 extra glasses of water today ..  I want to relieve myself  while there is crowd and  the customer in front says " Madam finish my work and go"...
I say Sir please give me few minutes ..
Evening I read a post on FB .. that says XBY employee take break when customers where in the queue .. now I think twice before drinking water in the mornings

It's 3.30 ... A senior citizen walks in front of my desk .. now should I tell him .. I haven't had my lunch yet or simply skip my lunch .. so that the Customer doesn't have to wait .. I decide to skip my lunch .. Evening i read a message on social media that is "supposedly" a joke about banker asking to come later ...

Now .. my question to the person who decided to mock a banker .. if you are from a corporate .. How many tea break did you take today .. rather how many fags was it to clean your lungs ?

If you are jobless .. come sit in the bank and wait for your turn .. Read the display boards and go to the correct counter .. so that I don't have to point out to you to go to the correct counter .

For that educated person. .. whose time is so precious that you don't want to spend 2 extra minutes in the bank .. Try INTERNET BANKING .

NOT EVERY BANKER IS LIKE THE JOKE YOU CRACK .. THERE THOUSANDS OF THEM WHO GIVE SERVICE BEYOND YOUR  IMAGINATION .

MAKING FUN OF A PROFESSION IS NOTHING LESS THAN BEING A RACIST .


From priya shreeram wall

New labour bill read details

*New labour bill*
----------------------------

The new Labour Code, which will be introduced in the Parliament in the ongoing winter session for approval, is going to hand companies a distinct advantage. Hiring and firing of contractual workers will be now much easier for the employers.

The Union Cabinet chaired by Prime Minister Narendra Modi gave its approval on November 20 for the introduction of the Industrial Relations Code, 2019 in the Parliament.

This code is meant to simplify and merge three central labour acts including The Trade Unions Act, 1926, The Industrial Employment (Standing Orders) Act, 1946 and The Industrial Disputes Act, 1947.

This code is an extension of a June decision where the Ministry of Labour took a stand to merge all the 44 labour laws into four codes, including industrial relations, wages, social security and safety, health and working conditions.

The Industrial Relations Code 2019, also called the Labour Code, is a set of draft rules aimed at simplifying the labour laws in the country.

This regulation is not just meant to simplify the existing rules on the type of employment but also to give equal footing to both, permanent and contractual workers.

The idea is to improve the working conditions of the contractual staff and bring them on par with the regular employees. From an HR perspective, this will mean that a company need not have multiple employment policies for contractual and regular staff.

Especially for areas like maternity leave and extended leave for mothers, a similar policy will be followed which would make the management process easier. In the past, leaves were a bone of contention between companies and labourers.

A crucial aspect of the new draft code is the fixed-term employment proposal that has also been welcomed by the industry. This will mean that the respective companies would not need to engage with any third-party contractors. Instead, under the new regime, they will be able to hire contract workers directly for a fixed tenure.

Based on the type of job role, the contract period can be tweaked making it easier for firms to hire and fire. Earlier, the contractors would play a role in these matters. Now, the employment period can be decided by the company itself. Later, if the particular job gets redundant, the worker can let go.

For instance, if a welding professional has been hired, and the company is able to procure a machine to perform the same function at a later date, this professional can be laid off. In the past, firing staff would lead to a dispute since there was no concept of a fixed-term employment.

At present, labour disputes take a long time to be resolved. The Industrial Relations Code has proposed setting up of a two-member tribunal for settling labour disputes. Earlier, there was a one-member team that led to delays in getting a resolution.

Further, a few government officers would also be given the power to look into cases and also impose penalties. This is expected to ease the burden on the tribunals that are already handling several thousand cases.

This will ease the pain for employees who otherwise lose pay while attending the often-prolonged tribunal hearings.

For workers, being relevant from a skilling perspective has been a cause of concern in India. Re-skilling of staff will be a key priority under the new regulations. The government has said that there will be re-skilling fund that will be utilised for crediting to workers.

Closely linked to reskilling is the fear of retrenchment. Due to machines replacing mundane roles, involuntary separation in factories has been a reality. While there was fear of only mid-sized companies (with 300 or more employees) being mandated to take government permission to retrench staff, the draft code has retained it for companies with 100 employees or above.

This means even if a small company/factory were to take a retrenchment decision, they would have to get prior permission from the government to do so.

As far as benefits are concerned, the draft code has said that set social security benefits will be extended to all types of workers. This means that all company benefits including insurance and leave encashment could be provided to these workers (contractual or temporary workers). Earlier, contractors would be passed on these benefits, and there were reports of leakage of cash/insurance amount.

Once this code gets a nod from both the houses of the Parliament, it will be drafted into a law. This will subsume all the existing rules used for defining employment contracts of staff.

(moneycontrol.com)
25.11.2019

How do you see the status of the economy now?

How do you see the status of the economy now?

The Indian economy is in recession though CSO data does not show that. My calculation is that the economy has contracted by at least one per cent in the last one year.

How did we come to this situation?

It started with Demonetisation. You see, the unorganised sector which employs 94 per cent of the country’s workforce and produces 47 per cent of the output was massively hit. This sector runs on cash. And before they could recover, they were again slammed by imposition of the GST regime. Though they could not benefit from input tax credit, they nonetheless ended up spending more after raw materials, etc. The NBFC crisis also hit this sector most. The problem has now spread from the unorganised sector to the organised sector.

Is the government alive to the situation?

I think they are aware of the problem but their solutions are wrong. When more money needs to be pumped into rural India in terms of heightened public investment in infrastructure, education, healthcare, telecom, etc, all interventions till now are on the supply side while the malaise lies with the demand side. Of what use will be a Rs 1.45 lakh crore tax break to the corporate sector, Rs 75,000 crore for bank recapitalisation or Rs 25,000 crore to the real estate sector to boost demand growth amongst the poorer sections linked with the unorganised sector?

So, you think the government’s dreams of a $5 trillion economy is unlikely to be realised?

They are not dreams, just words, just like those announcements of doubling farmer’s incomes by 2022 and pumping in Rs 100 lakh crore in infrastructure over the next five years were. Do you see any of that happening? These are just hollow words.

(Prof. Arun Kumar)
Professor (retired)
Centre for Economic Studies and Planning.

Friday, November 22, 2019

Mamata slams PSU divestment, suggests all-party meet

Opposing disinvestment of Public Sector Undertakings, West Bengal Chief Minister Mamata Banerjee on Thursday said it could gradually lead to disinvestment of the country itself and urged Prime Minister Narendra Modi to consult experts and, if need be, call an all-party meeting on the issue.

"Disinvesting the public sector and using the money to manage the immediate crisis is not a permanent or the only solution. You need economic stability for a permanent solution, because otherwise the economic disaster will only intensify," Banerjee told mediapersons in Bahrampur of Murshidabad district.

The Chief Minister said the NDA government at the Centre was claiming it would get ₹1.76 lakh crore to ₹1.80 lakh crore from multiple disinvestments.

"But so many disinvestments may lead to disinvestment of the country itself. Then what will the central government be left with? How will the country be run? I feel these aspects should be seriously considered.
The Trinamool Congress supremo's remarks came a day after the cabinet Committee on Economic Affairs (CCEA) approved strategic disinvestment in five large public sector undertakings -- BPCL, CONCOR, SCI, THDC and NEEPCO -- along with change in management control in these companies.

Banerjee suggested the Central government hold consultations on the issue and consider everybody's opinion in a "positive sense".
"I think the prime minister should speak to experts in the country on this issue. If need be, there should be an all-party meeting, the Trinamool Congress supremo said.

"I think the prime minister should speak to experts in the country on this issue. If need be, there should be an all-party meeting, the Trinamool Congress supremo said.

Trinamool was against disinvestment, but believed there could be mergers which should protect the jobs of the officers and other staff, she said.

In this context, Banerjee expressed suspicion about the way the Central government in the name of merger, moved the headquarters of the state's lead bank UBI out of Kolkata.


"We found that in the name of merger of some banks, the headquarterS of UBI, the lead bank in Bengal, was moved away from the state. Now if such things happen, then what would be the future of the large number of schemes which operate through banks? We are suspicious about the move," she said.

Bank merger | Unions to stage dharna before Parliament on December 10

Various bank unions plan to stage dharna on December 10 in front of the Parliament to protest against the government decision to merger 10 public sector banks.

In August, the government announced its plan to merge 10 public sector lenders into four to create fewer and stronger global-sized banks.

"Government has been pursuing the policy of merger of public sector banks despite the adverse implications.

Experience of mergers in the country and elsewhere has clearly shown that no benefit accrues to any of the stake holder," bank union said in a statement.

The unions will stage dharna on December 10 in front of the Parliament, it said.

11th Bipartite Update* *21/11/2019*

*11th Bipartite Update*
*21/11/2019*

1.  For the first time IBA requested Unions to help them in finishing talks preferably within about a month. This is positive development for early settlement.

2.  Though idea of 5 day week is kept alive, it may not get green signal from Govt, RBI. No likelihood.

3.  Demand for improvement in family pension quantum is taken up with Govt by IBA. May materialise.

4.  Merger of Special Pay with Basic under consideration. It will have positive impact on terminal benefits.

5.  Soon data on 'cost of pension' to banks will be provided to Unions.

6.   There is 6 way pension as on date. To make it common by adopting common Index is on cards.

7.  Proposal to enhance NPS contribution to 14 % Is under consideration. It's as per Govt suggestion.

8.  Retirees can't afford high premiums of Medical Insurance. It was suggested to allow retirees to choose policies of lesser amt. say 1 or 2 lakh.

9.  IBA indicated that they may negotiate wage revision for all officers upto scale VII if unions agree for 'Variable Pay' in principle.

10.  IBA requested Unions not to insist for pay parity with Insurance or Govt employees. There is risk factor in business of Banking. Many banks are in deep losses.

11.  Banks are rescheduling working and business hours. Unions requested IBA to ask banks not to overburden staff in this regard. There should be sufficient gap btween closure of business hours and end of working hours. Extra timing to finish work is highly objectionable.


12.  IBA is requested to frame same rules for all banks in the matter of compensation to Officers for work done on Holidays.

13.  IBA promised to take up with Govt matter of GST on Medical Insurance Policies. It substantially inflats cost to retirees.

14. Proposal to accommodate those who are so far left out of Medical Insurance Scheme for retirees & their spouses, was put forth by unions.

15. PL accumulation and encashment on retirement to be hiked to 300 days is demanded by unions.

16. Rest of the issues to be discussed in subsequent small committee meetings

Monday, November 18, 2019

Are bankers are Slaves? See the circular

Are bankers are Slaves?There are so many factors for decline  in business parameters inspite of working hard and smart in getting new business.They should not generalise for all.


Sunday, November 17, 2019

Wake up call for Comrade CHV













Friends ., my all readers this article I jyst forwarded here


15.11.2019


To,

All constituents of UFBU

Dear Mr. CH Vanktachalam,

Subject:        Wake up call for Comrade CHV: You are still GS of AIEBA: Talk like AIEBA: Maintain dignity of Five alphabets: There are just three alphabets in IBA:  Keep intact A & E with your union: Don’t delete A & E: Otherwise, you will have just three Alphabets IBA 

There is big difference between allegations and realities. Acceptance is the ability to unconditionally value the realities. Practice radical honesty, admit your own mistakes, own your outcomes, don’t let fear get in your way, Count on your competencies.

Being GS of AIBEA is a big opportunity but please try to be a union leader and not a business man. Please act in the interest of the employees/retirees and avoid using your energy in actions detrimental to the interest of its own members (old retirees & Employees getting retired during the next 1-20 years). 

Members have given mandate to CHV to redress their grievances but they never  gave any mandate to make public statements that the banks are not having sufficient level of pension funds for meeting the cost of revision of pension. Try to put yourself in the shoes of those old & poor retirees, who are getting meager pension of just Rs. 10,000/- to Rs. 15,000/- per month, which is not sufficient to take care of two times meals for elderly couples and Alas !!!!!!, some of them can afford only one time meal.

God has bestowed upon you all the luxuries of life but HE also provided you a heart, which is a place for kindness but your heart sounds to become emotionless & detached. All old & poor retirees can’t afford to have medical treatment, as your inaction has closed doors for them to obtain Medical insurance Policy. There have never been any efforts to seek welfare funds of banks for such old poor retirees & you have left them to die in this era of every increasing deceases & ailments.

DFS vide their letter dated 24.02.2012 provided an opportunity for the benefits of  the poor & old  retirees for obtaining medical insurance policy out of welfare funds of the banks but IBA snatched that opportunity and you as a leader of AIEBA could not prevail upon IBA to provide free medical facilities to poor retirees. Many poor retirees have died in the past and many more are dying for lack of medical treatment.

As GS of AIEBA, you failed miserably to analyze who stands in priority for obtaining free medical  insurance policy, whether serving employees earning salary of more than Rs. 1,00,000/- or poor retirees drawing meager pension of just Rs. 10,000/- to Rs. 15,000/-, without evaluating that  the old retirees are more vulnerable to medical risks than serving employees.

You have deliberately opted to earn wrath, anger and rage of poor retirees as you failed to hear the screaming of old & poor retirees. You have become like a businessman, who simply weighs, who is contributing money to your union, ignoring the suffering & incapability of old & poor retirees, who made you General Secretary of AIEBA. Your union is fleshed with huge funds but YOUR DIL MANGE MORE AND MORE and resultantly your detached heart is stopping you to think about the welfare of poor retirees, since they are no more your members.

IBA is a institution who has hired senior retired executives from banks, who after retirement are getting decent salary and comparatively handsome pension and these officials can’t feel the pinch of pain & sufferings of old poor retires and your action in joining hands with IBA is adding salt to the woes & miseries of poor retirees, when you openly declare in public meetings that revision of pension is not feasible, since pension funds are not adequate. You action is providing an ammunition to IBA to kill & slaughter old poor retirees.

You need to ponder over this issue again and ask yourself whether you have to lean towards old poor retirees or you have to connive & hatch up with IBA.  Your union has huge funds and you can easily hire one professional who can come out with a scheme to provide revision in pension of retirees in such a way that you are able to provide some comforts to old poor retirees. Even RBI approved scheme for its retirees for revision of pension in March 2019 and immediately thereafter there was circular from AIEBA to AIBRF to know whether banks want similar revision of pension and AIBRF responded for a similar type of revision of pension for bank’s retirees but that issue was later on buried by AIEBA with no valid reasons.

The Supreme Court of India in one of judgment dated 01.07.2015 has categorically given the verdict, which says that revision of pay scales and revision of pension are inseparable and this judgment is a blessed tool & ammunition for AIEBA in fighting with IBA. The judgment further says “That the judgment has recognized that revision of pension and revision of pay scales are inseparable. The Government can’t take the plea of a financial burden to deny legitimate dues of the pensioners. The judgment has recognized that revision of pension and revision of pay scales are inseparable. When pension is upheld to be a right and not a bounty, as a corollary to the aversion of pay scales is inseparable, up-gradation of pension is also a right and not a bounty”.

Now Wake up and fight for the cause of poor retirees, who needs your intervention Intercession and support. Where there is a will, there is a way!!!!!!!!!! . There will be no constraints & limitations in your way and if such impediments & hurdles come in your way use your ammunition against IBA, which is the real essence & distillate of unionism. Poor retires are not meant for un-natural deaths, they need your support.

Kind regards,



O.P.SHARMA

WOUNDED & INJURED RETIREE

Show quoted text

FOR INFORMATION OF THE MEMBERS OF BANK PENSIONERS ---------------------------------

🤣🤣🤣
FOR INFORMATION OF THE MEMBERS OF BANK PENSIONERS
----------------------------------------------------------------
BANK PENSIONERS SHOULD NOT EXPECT REVISION/UPDATION OF PENSION SINCE THE PSU BANKS PENSION REGULATIONS
1995 HAVE NO SUCH PROVISION FOR REVISION/UPDATION OF THE PSU BANKS RETIREES PENSION. IN SPITE OF
SEVERAL COMMUNICATIONS TO THE UFBU LEADERS PARTICULARLY TO THE GENL.SECRETARY OF THE LARGEST UFBU
CONSTITUENT AIBEA WHICH CLAIMS TO BE THE CHAMPION FOR INTRODUCTION OF PENSION IN THE BANKS BY THIS BLOG
MEMBER URGING TO DEMAND FOR AMMENDMENT OF THE PSU BANKS PENSION REGULATIONS AFTER SEVERAL HIGH COURTS
REJECTED THE DEMAND FOR UPDATION OF PENSION ON THE GROUND THAT THERE WAS NO SUCH PROVISION FOR UPDATION
OF PENSION IN THE PENSION REGULATION WHICH WAS SIGNED BY THE UNIONS WITH THE IBA IN 1993 AND
IMPLEMENTED BY THE BANKS w.e.from 1995. FROM THE HIGH COURTS RULINGS IT IS CLEAR THAT UNLESS THERE IS
SPECIFIC REGULATION IN BLACK & WHITE FOR UPDATION OF PENSION THE BANKS ARE NOT BOUND TO ACCEDE THE
DEMAND FOR UPDATION OF PENSION. THE UFBU LEADERS PARTICULARLY THE AIBEA HAS DONE IMMENSE OF HARMS TO
THE PENSIONERS BY NOT DEMANDING FOR INCORPORATION OF THE PROVISION FOR UPDATION OF PENSION WHEN THEY
NEGOTIATED FOR INTRODUCTION OF PENSION WITH THE IBA. IT SEEMS THE AIBEA/UFBU LEADERS HAVE ENTERED INTO
SECRET UNDERSTANDINGS WITH THE BANK MANAGEMENTS-IBA FOR THEIR PERSONAL GAINS TO DUPE THE RETIREES IN
EVERY POSSIBLE WAY AND DUE TO THIS UNDERSTANDING WE THE RETIREES HAVE BEEN MADE FOOLS/DISCRIMINATED IN
MANY MATTERS viz.
1.THE RETIREES HAVE BEEN COMPELLED TO PAY EXHORBITANT MEDICAL INSURANCE PREMIUMS.
2.PRE 2002 RETIREES HAVE BEEN DEPRIVED OF PAYMENT OF 100% D.A. NUTRALISATION DUE TO OBJECTION BY THE
NEGOTIATING UFBU LEADERS.
3.THOUGH THE IBA INITIALLY AGREED TO REVISE/UPDATE PENSION BY APP.3 TO 4% OUT OF THE FINANCIAL PACKAGE
THE IBA OFFERED DURING Xth BIPARTITE AGREEMENT IN 2015 DUE TO THREATENINGS BY THE THEN AIBOA GENL.
SECRETARY THE IBA HAD TO WITHDRAW THE PROPOSAL. SURPRISINGLY THE AIBOA GENL.SECRETARY THREATENED THE
IBA NEGOTIATING TEAM "HOW COULD THE IBA PROPOSE TO UPDATE PENSION WHEN THERE IS NO PROVISION FOR
UPDATION OF PENSION IN THE PENSION REGULATIONS?"
4.DUE TO ONE OF THE UFBU CONSTITUENT NCBE'S OBJECTION THE BOB VRS OPTEES HAVE BEEN DENIED FROM JOINING
THE BOB WELFARE SCHEME OF CONTRIBUTORY MEDICAL ASSISTANCE SCHEME IN THE BOB.

LEADERS OF THE RETIREE ASSOCIATIONS MR.K.V.ACHARYA/RAMESH BABU OF CBPRO and MR.S.C.JAIN OF AIBRF ARE
ALSO AWARE OF THE UFBU LEADERS UNHOLY NEXUS WITH THE IBA-BANKS MANAGEMENTS AND HENCE THEY WILL NOT BE
VOCAL NOR THEY WILL EXPOSE THE UFBU LEADERS SUCH HEINOUS ACTIVITIES FOR THE RETIREE LEADERS PERSONAL
INTEREST.

Debasish Mukherjee,
Retiree- Bank of Baroda,
Member- Bankpensioner@Googlegroups.com

--

BIPARTITE TALKS DETAILS AS ON 15-11-2019



Bipartite Talks

Another round of negotiations for 11th Bipartite settlement took place on 15th Oct 2019 at Mumbai. Representatives of 9 constituents of UFBU were present.

In matter of Performance Linked Incentive UFBU gave in principle approval. On our behalf we expressed our opposition to introduction of PLI. The Chairman of the Negotiating committee expressed that IBA will go by majority opinion. IBA sought suggestions of UFBU on the modalities. It was proposed by UFBU that PLI be incorporated as a separate agreement. IBA clarified that proposed scheme of PLI will be applicable only to public sector banks and for private banks it will be optional for the member banks.

IBA assured that the mandate issue would be taken up for covering all Officers upto Scale VII.

In regard to merger of Special Allowance with Basic Pay, IBA narrated about the impact on costs for superannuation benefits and suggested a lesser percentage than 7.75% may be merged to keep the cost lower. UFBU insisted for merger of entire Special Allowance. The cost narrated by IBA needs to be verified. There was no progress in the matter of loading of 2%  after merger of DA with BP, offered by IBA.

IBA agreed to share actuarial calculation on cost requirement for improvement in family pension and pension revision as well. In this regard IBA also agreed to share data on pension with actuary recommended by UFBU. In the matter of NPS, IBA responded positively to increase banker’s contribution to 14%.

On the issue of Mediclaim Policy for retirees, UFBU proposed to consider a separate scheme as per suitability to keep the premium amount affordable. It was also suggested that a portion of the premium should be borne by banks.

IBA did not come up with any improved offer from its earlier offer of 12% increase. They expressed their desire to complete the negotiation within a short period. IBA stated that they would come up with their revised offer of wage increase considering the overall cost involvement in the final stage of talks. On behalf of UFBU, it was reiterated that 12% increase is unacceptable.

On behalf of UFBU, we insisted for introduction of 5 day week. The matter will be discussed later.

UFBU once again raised the issue of Ex-gratia for pre-1986 retirees and requested for substantial increase as the amount is very meagre. The issue of increase in accumulation and encashment of Privilege Leave to 300 days and 270 days respectively was taken up in the negotiation. IBA will examine the cost involvement.

It was decided that meetings of the Small Committees for Officers and Workmen will be held to concretise non-financial issues on 21st and 28th of this month respectively. 

The UFBU will meet on 28th Nov 2019 afternoon at Mumbai.

Saturday, November 16, 2019

Nearly 70,000 BSNL employees opted for VRS so far: Chairman

As many as 70,000 employees of BSNL have already opted for the VRS schemewhich was launched last week, Chairman and MD of the state-owned telecom corporation P K Purwar said on Monday. 

In all, nearly one lakh BSNL employees are eligible for the voluntary retirement scheme(VRS) out of its total strength of about 1.50 lakh. BSNL has pegged its internal target for VRS at 77,000 employees, and the effective date of voluntary retirement under the present scheme is January 31, 2020. "The number of employees who have opted for VRS so far has reached about 70,000. The response has been strong across the board," Purwar told PTI. 

The corporation has also been asked by the telecom department to urgently consider measures to ensure smooth operations and business continuity, especially with regard to the telephone exchanges in rural areas, following launch of the VRS scheme, which is set to bring down its staff strength by nearly half. 

BSNL Voluntary Retirement Scheme - 2019' that was rolled out last week will remain open till December 3. BSNL is looking at savings of about Rs 7,000 crore in wage bill, if 70,000-80,000 personnel opt for the scheme. 

According to the scheme, all regular and permanent employees of BSNL including those on deputation to other organisations or posted outside the corporation on deputation basis, who attended the age of 50 years or above are eligible to seek voluntary retirement under the scheme. 

The amount of ex-gratia for any eligible employee will be equal to 35 days salary for each completed year of service and 25 days salary for every year of service left until superannuation. 

The two firms will also monetise assets worth Rs 37,500 crore in the next three years. MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010. The total debt on both the companies stood at Rs 40,000 crore, of which half of the liability is on MTNL alone.


Guys, settlement will be done in 2020 as per previous trends.

Guys,  settlement will be done in 2020 as per previous trends.

We have Already wasted  2 years,  so wait for another 6 months.


Friday, November 15, 2019

No good news from today's bipartite talk

Today one more round of talk with IBA has took place. Today AIBOC was represented by Com Sunil Kumar Chairman and Com Debasis Ghosh President. The message of Convenor UFBU is appended:
In today's talks with IBA we raised the following issues for taking decision. Early settlement, increase in their offer, clubbing basic pay & spl allowance, 5 day week,  improvement in family pension, updation of pension, nps at 14%, PLI modalities , reduction in premium on medical insurance  for retirees,  etc.  It was decided to clinch these issues at the earliest. Detailed circular follows. S K Bandlish, Convenor UFBU

Thursday, November 14, 2019

BANKS CAN NOW ACCEPT CURRENT ADDRESS OTHER THAN IN AADHAAR

BANKS CAN NOW ACCEPT  CURRENT ADDRESS OTHER THAN IN AADHAAR

Dated 14.11.2019 :   As per Gazette notification dated  13.11.2019   ,  new current address  , other than  recorded in the Aadhaar card  may be provided to authorities by way of self declaration .

People who migrate  to new places  on taking up jobs were finding it difficult  to  open  banking accounts  as their address  in  Aadhaar card would be  of their permanent residence in their native place  and the current address will not match that  in Aadhaar card . The rule change  will help   such  persons to open bank accounts   in their new places of work  by providing current address  by self declaration   and  banks  can record  current address and communication  can be done to the current address . 


Wednesday, November 13, 2019

Don't asked any question to your leader please???

On Tue, Nov 12, 2019, 10:32 AM C H VENKATACHALAM <chv.aibea@gmail.com wrote:
Dear Shri Shukla,

We have been receiving frequent communications from you on matters relating to retirees and we can understand your anxiety.  But please note that it does not give you any liberty to make any type of allegations on UFBU.  UFBU constituents are aware of the issues and will do what is possible by them.  There are so many constraints beyond the control of UFBU which may not be in your knowledge and hence passing comments and observations is easier for you. 

We take strong exception to expressions like -  leaders have become impotent, just stooges & puppets of IBA. They are just boot lickers, corrupt and totally in IBA lap. 

All our unions are democratic organisations and their members know about their leaders. 

UFBU and its unions have their  wisdom to deal with the issues .  Whenever we are short of it, we will approach you and borrow some wisdom.

Till then we are sorry we cannot entertain such correspondence and cannot give any congnisance to the same.  Hence please stop sending such communicaitons to us.

C H VENKATACHALAM
GENERAL SECRETARY AIBEA

Reply dt 12.11.2019
Dear Sri Venkatachalam,

Thanks for your response and noted the contents.

Yes, we have been sending certain communications based on facts & circumstances that prevail on ground. What has irked you, that's the feeling & belief of working fraternity across banking, not mine, please bear with it, there is nothing personal.

Yes, we know UFBU does not take  cognizance of such letters. It's their wisdom. You too shouldn't have taken any cognizance, as well. We can't force one to take cognizance. But, it reflects arrogance and high headedness, unbecoming of trade union ethic & culture.

We understand the difficulties of UFBU. IBA's difficulties are the difficulties of UFBU. We don't know the compulsions of UFBU to carry the baggage of IBA!. Has UFBU- IBA same interest or different constituencies to represent with?! It's not our individual problem, but of entire workforce and retirees that they don't know the problems that you show before UFBU. Better, it is explained and put in banking fraternity.

We don't run any Knowledge Bank or do lending business. We are not trader or broker. Bank men look to & believe in the wisdoms of their Unions and leaders. However, they are dismayed to note, their leaders have gone bankrupt and turned their back from the assigned jobs. Are they (bank men)  wrong, if they express their feelings, aspirations and in case not heard off, they resort to out burst? If it's a democratic order, let the views be expressed and heard unhindered. Hope, UFBU shouldn't shut doors or windows or choke the throat of banking fraternity.

Hope, UFBU take cognizance of bank men issues. Bank men means working and retirees. Whether reply or not, it has no relevance, but address their issues. They are not interested in replies. You should have avoided to take trouble, as matters rest with UBFU. But, we thank you for the trouble you took in this regard.

We reiterate, the things which do not make a sense are called nonsense, whether ours or others. Sorry, if you read our communiqués otherwise than the way it was.

Greetings,

( J. N. Shukla)
Prayagraj
12.11.2019

Not a single macro economist thinks note ban was a good idea: Gita Gopinath

Demonetisation was not a good idea and the time should have been utilised instead to fine-tune the goods and services tax (GST) before it was introduced, said Gita Gopinath, John Zwaanstra Professor of International Studies and of Economics at Harvard University, in an interview with Advait Rao Palepu. Rising oil prices are emerging as a big challenge for the country, she said while she was in Mumbai to deliver Exim Bank's commencement day lecture. Edited excerpts:

Was demonetisation a good move?
No. I don’t think I know a single macro economist who thinks that this was a good idea. And, it’s not something I think should be done for a country such as India and the level of development it has. Japan has the highest cash per capita, way more than India. The cash in circulation, relative to the gross domestic product (GDP) for India was 10 per cent, whereas in Japan it is 60 per cent. That is not black money; that is not corruption.

How do you see the disruption that demonetisation, and the GST has caused in the short term? Would it be beneficial in the medium to long term?
I view the GST very favourably because that is a real reform. It is a way of formalising the economy. It is a very effective way of ensuring tax compliance and makes it harder to earn black money. But obviously it is going to take some time to smooth out; the implementation again has been disruptive. Which makes me wish they hadn’t done demonetisation is then you could have used that time to have brought in GST smoothly.

Do you think policy making in India should be made more transparent?
What needs to be done generally for policy in India is just better data. It’s not great when everybody, everywhere, seems to be suspicious of the GDP numbers. For instance, I am working on a paper that is trying to basically answer the question: What was the impact of demonetisation in the economy? And the data hurdles are immense, in terms of what kind of data you have to measure things. Different parts of India were affected differently by the cash crunch. So, for instance, at the minimum, suppose you have a state GDP per capita, and you would want it at a quarterly frequency, which doesn’t exist. It’s just basic stuff that doesn’t exist.

Could you explain some of the policy implications of your research work on a country’s trade dependency on the dollar?
I think policymakers didn’t realise it, but kind of indirectly, they actually do obsess about the currency, relative to the dollar. Most emerging countries’ central bankers do look at this. But that is what the implication would be. Usually, policymakers might pay attention to what they call a “trade weighted exchange rate”. And what my research says is that you want to pay attention to the exchange rate relative to the dollar, doesn’t matter who you trade with or how the exchange rate moves one way or the other.

What are the trends you see in commodities, for 2018, especially that given oil prices have risen to $63 a barrel?
I think that is an important risk factor for India, because it weighs very heavily on monetary policy and fiscal policy. I do not believe it will get close to $100 a barrel, I think all projections for it are in the $60-$70 range, because there are lots of other supplies. But that wonderful era of very low commodity prices is now in the past. And so this is going to be something that the government and RBI will have to grapple with. I think there is going to be a lot of frustration. Inflation expectations usually tend to be quiet sensitive to food prices and fuel prices. And so even if the inflationary pressure on the economy, as a whole, is not that high, if people notice that when they are buying stuff that they are paying more for food, it shows up in inflation expectation numbers.


Paytm ‘fraud’: This big money manager lost Rs 5,000 from mobile wallet, here’s how he got it back

A prominent investment manager got a rude shock this morning, when he discovered that Rs 5,000 from his Paytm wallet got automatically transferred to a juice vendor. Notably, Vikaas M Sachdeva, CEO of a reputed AMC, was hit by fraud and his entire balance of Rs 5,520.93 got transferred to Shree Balaji Juice centre at about 12.15 am on Tuesday morning. Sharing the incident of Twitter, Sachdeva said that the fraud took place when he was asleep at home. "Just flagging off a fraud which happened to me. My entire paytm balance of over 5k got transferred to an entity called Balaji juice centre at 12.15 am today while I was asleep at home. Reported it to @Paytmcare but am surprised how vulnerable paytm is to cyberfraud," Vikaas Sachdeva tweeted.

Sachdeva, who has about 4,946 followers on Twitter, got a response from Paytm Bank Care saying that the refund of Rs 5,520.93 has been added to hit wallet. "Hi Vikaas, this is not the experience we strive to deliver to our customers. We have added the refund of ₹5220.93 to your account under wallet transaction ID 27XXXXXX73 against the transaction at Shree Balaji juice centre," said the firm. Further, Paytm told Vikaas to check the refund in his wallet history under the Passbook section.

Sachdeva has about 4,946 followers on the micro-blogging site. While the amount has been refunded to his wallet, Sachdeva has asked Paytm to share how the fraud took place. "As you can see, a lot people have spoken up and they are equally worried. I would like to see a RCA done and shared with me," he said on Twitter. Financial Express Online has also independently sought response from Paytm on this issue. According to experts, there should be more safeguards amid technological disruption. "The issue is new age requirements are being governed by age-old rules. There should be a grievance redressal mechanism in place," a financial services professional told Financial Express Online on the condition of anonymity.

Tuesday, November 12, 2019

We condemn the attack and political hooliganism on the bank staff of Corporation Bank

UNION BANK OFFICERS ASSOCIATION (KERALA)

11-11-2019

We condemn the attack and political hooliganism on the bank staff of Corporation Bank, Kottayam branch by around 50 activists of Congress party led by Mr Thiruvanchiyoor Radhakrishnan, MLA & Thomas Chaazhikadan, MP.

The bank staff was locked inside the branch, harassed and assulted by goons, ladies demoralised and abused, outraging the modesty of woman and political goons snatched the "Key" of house under posession through SARFAESIA Act, threatening the bank staff to burn them alive inside the branch.

Facts of the case

1. Corporation bank took the posession of a property mortgaged for a housing loan which was availed by a congress panchayat member of Thiruvarpu panchayat an NPA loan from 2017 onwards.

2. The posession was granted by an Advocate Commisioner appointed by the Chief Judicial Magistrate on 7th November 2019. The party approached Hon High Court, two times and recieved enough time for repaying the debt, but she defaulted the repayment terms put forth by Hon High Court of Kerala.

3. The whole SARFAESIA proceedings were legal and through judicial intervention & the defaulter lady handed over the posession of house, peacefully to the commisioner of court on 7th November 2019.

4. On 8-11-2019, Friday morning, a team of 50-60 political activists of Congress Party mobilised by the defaulter at the behest of local Congress MLA,  Mr Thiruvanchiyoor Radhakrishnan & local Congress MP Mr Thomas Chaazhikaadan tresspassed into the branch and took over the control of branch blocking the entrance.

5. The political goons started harassing and threatening the branch staff & bolieved and assaulted the bankers inside the branch, for giving back the key. They were threatened to be burned alive, if they refused to hand over the key.

6. An old officer of 58 years age, a cancer patient was assaulted and harassed restricting his freedom of movment. Two lady officers were threatened of burning alive and they escaped inside the strong room for protection.

7. The District Collector & the Police authorities colluded with the political tycoons surrendering their authority to the political hooliganism of Member of Parliament & Member of Legislative Assembly. The District Collector, the executive magistrate of the district, commanded the branch staff to obey the instruction of political leaders and even threatened the bankers that they will be left alone and police officials cant intervene.

8. The CCTV visuals in the comment box and the photos of the incidence are really shocking and its a revelation that the bankers are not safe, even in the gods own country.

9. We, the bank staff feel that we will be burned alive if we work for enforcing the law of the land. We are bankers who have a family waiting for us, we have kids waiting their parents & parents waiting their children to get home safe.

10. Now Kerala is even unsafe for ladies and bankers to work lawfully. Our right to work, right to freedom of movment, Right to life & Right to liberty and freedom are viciously snatched by politicians.

We demand justice and our lady bankers in kerala are in want of protection from police and authorities. We demand justice against the political violence, and the rightful protection,  an Indian Citizen deserves.

We demand the intervention of DFS, Reserve Bank of India in bringing stringent guidelines against such politically motivated attack against bankers.

We request & plead the Honorable high court of Kerala to accept a "Public Interest Litigation" safegaurding the life & assets of bankers in duty from the arrogance and highhandedness of unsocial elements.
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Please share this post till it reaches the media, till the post reaches the Chief Minister of Kerala, DGP of Police.

Share the post till it reaches the Hon Finance Minister Smt Nirmala Sitharaman

Use the hash tag and post the link of this post in all the pages of politicians, media & celebrities until the justice is waken up from deep slumber

#stop_political_violence

We are with our fellow bankers from corporation bank, who escaped from the brutal hands of politicians who displayed their publicity stunt.

Sreenath Induchoodan
General Secretary
Union Bank Officers Association (Kerala)
Central Committee Member (AIBOC)

Sunday, November 10, 2019

PSU Banks are now in the process of providing another option for submission of Life Certificate.

PSU Banks are now in the process of providing another option for submission of Life Certificate.
For quite some time, Retirees of PSU Banks are demanding that they also be allowed to submit Digital Life Certificate (DLC) in the same manner as Government Retired Employees have been doing since November 2014. Till now, most of us retirees were of the impression that we can submit the DLC just by visiting the Jeevanpramaan website sitting at our homes. However, it is not as easy as we had thought.

On visiting the Website: https://jeevanpramaan.gov.in, the full process can be understood by clicking the FAQ section and selecting the "For Pensioners" option. The process in brief is provided down below:

Jeevan Pramaan is a biometric enabled Aadhaar-based Digital Life Certificate for pensioners. Jeevan Pramaan i.e DLC is generated for individual pensioner using his/her Aadhaar number and Biometrics.

A pensioner whose Pension Sanctioning Authority (PSA) is onboarded on to JeevanPramaan is eligible for Jeevan Pramaan. List of onboarded PSA, can be found under 'Circulars' tab on the https://jeevanpramaan.gov.in portal.
A pensioner who is re-employed or re-married is not eligible to make Jeevan Pramaan i.e. Digital Life Certificate.

If PSU Bank Retirees want to generate DLC on their PC/Laptop/Mobile, then the following requirements are mandatory:

1. A STQC certified Biometric Device is required.
2. 'RD Service' (Driver) of the Biometric Device being used should be installed on the PC/Laptop/mobile.
3. The 'JeevanPramaan Application' has to be installed on your PC/mobile. It can be downloaded from the 'Download' tab from https://jeevanpramaan.gov.in portal.
4. Personal Computer, Laptop or Android Phone with MS 7 Operating system or above and an Internet Connection is required.
For those retirees who do not have access to above Hardware / Software, there is an option to visit
1. A Citizen Service Centre (CSC ) located near their residences across India
2. Office of Pension Disbursing Agencies (PDA) such as Post Office, Banks, Treasury etc
3. Visit a Bank Branch where this facility is available. (Probably those branches of Banks' where Aadhar Applications are also entertained
4. Visit the Pension Paying Branch and submit the Physical Life Certificate, as is being done till now. The Officer dealing with Pensions will do the needful.
You can search nearest CSC by clicking on 'Locate a Centre' on https://jeevanpramaan.gov.in portal or alternately you can send SMS to 7738299899. The SMS body must start with keyword "JPL" and after space write your pin-code. e.g. JPL 110003 and send it to 7738299899

The Pensioner / Retiree has to provide Aadhaar Number, Name, Mobile Number and self declared Pension Related Information like PPO Number, Pension Account number, Bank details, Name of Pension Sanctioning Authority, Pension Disbursing Authority, etc. The pensioner has to also provide his/her biometrics either Iris or Fingerprint. Note : Incorrect information may lead to rejection of the DLC by the authorities. Aadhaar number or VID is a must for generating / obtaining the Jeevan Pramaan i.e. Digital Life Certificate.

The procedure to be followed for generating a Jeevan Pramaan (DLC) from a CSC / Office of PDA is as under:

1. Pensioner visits a CSC or office of PDA
2. He/She provides the required information to the operator. The operator feeds/enters this information into the system i.e JeevanPramaan Application
3.The pensioner has to then provide his/her biometrics by placing his/her finger on the finger print scanner or eye in front of the Iris scanner.
4. On successful aadhaar based biometric authentication, JeevanPramaan is generated with a unique id called Pramaan Id.
5. An acknowledgement message quoting the Pramaan Id is sent as an SMS to the mobile number provided by the pensioner.
Note - The JeevanPramaan/DLC thus generated is subject to approval of the Pension Sanctioning/Disbursing Authority as provided by the pensioner.
You do not have to submit the DLC to the bank/post office/pension disbursing agency. The DLC is automatically available to them electronically. For further details, please open this URL - https://jeevanpramaan.gov.in/app/faq

BANK EMPLOYEES READY TO TAKE 1% ADDITIONAL WAGE HIKE

" BANK EMPLOYEES READY TO TAKE 1% ADDITIONAL WAGE HIKE "

Central Trade Union/AITUC/Bank Officers Union has been following/doing inexorable labor and their demands all are reliable, but Government says to merger Banks is actually meant to create space for private Banking PSBs(public sector banks) with 10 Banks in to 4 for this act strongly opposed by CTU/AITUC/BOU.

--> Unions policy is action to oppose all such anti-people and pro-corporate policies.

--> If the Govt persists with their plan then Unions will make start undefinite strike to protest their demands.

--> If passed merging Banks 10 into Four by the Govt then bad loans will never recover and we will not found Criminal/cheating activity employees.

--> Employees feared by some act that if Bank 'A' merge in to Bank 'B' then Bank 'A' is minority/second class employees in front of Bank 'B' this act is not digestable by both Bank employees as well as Bank Unions.

--> And Unions must follow Six days is working days (IBA/UFBU/CTU/AITUC/BOU) because India is not USA (USA having 36 crores population but INDIA having 130 crores population) and NOT VALID 5 day working a week demands by Unions since September 2015.

--> Must follow IBA performance-linked incentive scheme.

-->  ☆☆☆ Employees ready to get 1% wage hike (current wage revision is due from Nov 2017, bipartite wage settlement ended in Oct 2017.

My humble request to our great PRIME MINISTER OF INDIA  NARENDRA MODI GARU that please look after Bank employees reliable demands and grant 1% wage hike...Jai Hind

Yours Obediently,
S.V.P.YADAV Anantapur MP contestant  and Journalist and BJP Karyakartha
Mobile No: +918019563514
Email Id : svpyadav@rediffmail.com

RETIRED EMPLOYEES EATING GOVERNMENT TREASURY

"RETIRED EMPLOYEES EATING GOVERNMENT TREASURY "
Indian Constitution sometimes is in deef-mute, regarding the issue of pension schemes of various Gazetted and Non-Gazetted retire employess pension schemes.

CPS Contributory Pension System/Scheme supporting for flattened government treasury, so need to take some precautions for break this kind of imposture.
--> If wife and husband both are working in Govt.sector then Govt. will pay HRA only one person either husband or wife as well as pension also applicable only one person.
--> Must follow retirement age is in Govt.sector 58 years only ( fulfilment of unemployment - MAKE IN INDIA )
--> If pension rights is different then please follow this as a MAKE IN INDIA :- Non Gazetted ranker pension fixed with Rs 35,000/- and Gazetted ranker pension fixed in to Rs 50,000/- only per month because retired Gazetted  ranker has been getting pension Rs 80,000/- and above this is very huge hole for our Government treasury.

Now a days who is working 12 hours duty and additional they are getting Rs 15,000/- to Rs 20,000/- for month salary but retired people enjoying with fruits and drinks treasury blood.

I hope MAKE IN INDIA will bring up this reforms and my humble request to our great Prime minister of India Narendra Modi Garu please look after this issue and save the Indian treasury...Jai Hind

Your's Obediently,
S.V.P.YADAV Anantapur MP contestant  and Journalist and BJP Karyakartha
Mobile No : +918019563514
Email Id : svpyadav@rediffmail.com

NEFT WILL BE FREE FOR SB CUSTOMERS FROM JAN20 : RBI

NEFT WILL BE  FREE FOR SB CUSTOMERS  FROM JAN20 :  RBI 

Dated  09.11.2019 : Reserve Bank of India  ( RBI ) , vide their  Press Release  dated 08.11.2019    , has announced making availability of  National Electronic  Fund Transfer  (  NEFT  )  free   for savings bank Account holders of the banks from January 2020  onward   . 
The other policy measures announced include

1.   Operationalise the Acceptance Development Fund to increase acceptance infrastructure with effect from January 1, 2020.
2. Constitute a Committee to assess the need for plurality of QR codes and merits of their co-existence or convergence from both systemic and consumer viewpoints.
3. Permit all authorised payment systems and instruments (non-bank PPIs, cards and UPI) for linking with National Electronic Toll Collection (NETC) FASTags. Going forward, this will facilitate the use of FASTags for parking, fuel, etc., payments in an interoperable environment.
4. Enable processing of e-mandates for transactions through UPI

Article regarding bank pension

To all bank pensioners: The pension corpus fund is available to us  and  not applicable to new recruties joined on or after  01/04/2010. . So the employees joined prior to 01/04/2010 are only covered by pension regulations of 1993 that available to us now.  Balance in pension corpus fund available is for disbursal to employees joined prior to 01/04/2010.The employees joined prior to 01/04/2010 are contributing to this fund monthly till the the their retirement. The fund balance is
 enough  to take care of the pension ,Family pension, and pension updation from time to time. The present balance is around 200000(Two lakh crore) which I feel can take care of  pension updation . However the Indian Banks association is denying the pension updation and adamant in bipartite talks and blocking the same to retirees. The reason offerred by them is that they  donot have the mandate from banks which is a pure lie .Another explanation being given is that they have called for the calculations from banks. This reason is offerred in last few bipartite talks.In tenth bipartite they got signed a Record Note . where in they termed the retirees have no connection with the banks  Another blatant lie.Evewn the Honourable suppreme court has opined that pension benefits are not a bounty (gift) but deffered wages to retirees. It is the Indian Banks association is going to courts with writ petitions an hence it is being dragged on years together. And gthe bank pensioners can not afford to go to courts since huge costs are involved. As such I have preferred a petition in change .org website where no costs are involved they have software wherein the petitions are delivered to the complainant on daily basis as and when signed . And only requirement is one should have emali ID.  So bank pensioners this is a costless step and very easy also.So instead of going to courts where the cost involved is huge.   Please make use of this facility and sign this petition . Today we learn that bipartite meeting is fixed for 15th november 2019 at Mumbai. This may tkae a week and we have at our disposal around 15 days for signing the petition.  More the number of  signatures  the result will be effective and positive. So  bank pensioners please see that maximum people sign aned make this effort a success. with heafrtfelt regards.M.Kamalaksha kini

Friday, November 8, 2019

Bext 11 th bipartite date on 15.11.3019


BSNL EXPECTS 70000 to 80000 will Opt for VRS

Within days of government approving a relief package for the ailing corporation, state-owned BSNL has rolled out a voluntary retirement scheme for its employees. It expects 70,000-80,000 personnel to opt for it, leading to savings of about 7,000 crore in wage bill. BSNL Chairman and Managing Director P K Purwar said the scheme will be open between November 4 and December 3, and that instructions have already been given to field units to inform employees about the VRS offering.
In all, nearly one lakh BSNL employees are eligible for the VRS out of its total staff strength of 1.50 lakh."This is the best VRS given by the government and BSNL employees should see it in a positive frame of mind," Purwar said.
He said the corporation expects 70,000-80,000 employees to opt for the scheme, and added that saving in wage bill is expected to be about 7,000 crore with those numbers.
According to 'BSNL Voluntary Retirement Scheme - 2019' all regular and permanent employees of BSNL including those on deputation to other organisation or posted outside BSNL on deputation basis, who attained the age of 50 years or above are eligible to seek voluntary retirement under the scheme.
The amount of ex-gratia for any eligible employee will be equal to 35 days salary for each completed year of service and 25 days salary for every year of service left until superannuation.
Mahanagar Telephone Nigam Ltd (MTNL) too has rolled out a VRS for its employees. The scheme, based on Gujarat Model of VRS, will be open for employees till December 3, 2019.
In a notice issued by MTNL to employees recently, it mentioned that "all regular and permanent employees of 50 years and above as on January 31, 2020" are eligible to opt for the scheme.
The government last month had approved a 69,000 crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving VRS to employees so that the combined entity turns profitable in two years.
The Union Cabinet has approved the plan to combine MTNL - which provides services in Mumbai and New Delhi - with Bharat Sanchar Nigam Ltd (BSNL) that services the rest of the nation.
The rescue package approved includes infusion of 20,140 crore for purchase of 4G spectrum, 3,674 crore for GST to be paid on spectrum allocation, companies raising 15,000 crore in debt on the sovereign guarantee and government funding 17,160 crore VRS and another 12,768 crore towards retirement liability.
The proceeds of the sovereign bonds issue will be to restructure debt and meet other expenses. The bond will have to be serviced by the PSUs only. The two firms will also monetise assets worth 37,500 crore in the next three years.
MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010. The total debt on both the companies stood at 40,000 crore, of which half of the liability is on MTNL alone.

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