Sandeep Bal Dear banker's,
We understand that today(22/7/2020) both IBA and UFBU Unions have reached a broad understanding by signing an MOU.
Main features as we can make out from the contents of the so called MOU are:-
1. Wage revision with effect from 1.11.2017.
2. Salary and allowance
Increase will be 15% of wage bill as on 31/3/2017: i.e. wage bill 7 months prior to the effective date of new wage settlement!
3. IBA saved several Crores on wage load due lesser wage bill as 7months wage expenditure on account of DA increase has been ignored by IBA - curtsy: UFBU Unions!
4. Merger of DA points into Basic as was prevailing as early as 17 months (June 2016) prior to the due date of wage revision (1/11/2017). This will result in lesser Basic Pay and IBA will reap the benefit by saving thousands of Crores due to merger of lesser DA points with Basic Pay - Curtsy UFBU Unions!
5. Actual increase in Basic Pay is just 2.5%(In 10th Bipartite it was 2%! An achievement of 0.5% increase! In the 9th BPS it was around 6 to 7% increase)
Bravo.. UFBU..Bravo..!
6. Out of Rs.7898 crores, just Rs.1155/- has been ear marked towards estimated increased expenditure on account of increased Basic Pay and DA! This come to just 14.5 paise for every Rupee increase in Wage expenses!
7. Basic Pay being an important factor for wage component like HRA, CCA and Retirement benefits like Pension, Gratuity, PF, NPS and Commutation etc., UFBU Unions surrendered the very Basic Pay of Bank Employees, there by thwarted decent wage increase!!
8. Special pay merger issue is no taken care off, which has greatly affected pensioners.
9. Pension upgradation issue is left unattended.
Waah. Whaahh......
Bank Managements/IBA saved several Crores of Rupees expenditure at least for the next five years on account of Pension, PF, NPS, Gratuity and commutation due to lesser Basic pay! Thus Employees legitimate salary and Retirement benefits surrendered by UFBU Unions!
For the first time in the Bipartite history the so called *Revolutionary/intellectual leaders* accepted *Performance linked Incentive*(PLI) knowing fully well that workmen and Officers have no say in the running of the Bank's day today affairs, loss or Profit in Business, that too when Banks after Banks are declaring net losses now!
UFBU Unions were indicated that they may agree PLI in 9th and 10th BPS itself, but some how postponed the same till 11th BPS!
This is nothing But abject surrender to the IBA dictates!!
Another shameless surrender is including encashment of our own hard earned Privelege Leave under the wage cost!
What a back bending by UFBU Unions. How can our own legitimate PL encashment can be accounted under wage increase??
*UFBU leaders seems to have decided that this settlement itself is the end of the Bipartite Journey*!! Must have lost confidence in themselves to bargain better wage increase!
In the name of creating Robust Banking System, the Employees interests have been bartered as if Employees are not part of the promised Robust Banking System!
Contribution to NPS increased(on Basic and DA) to 14%. This was done for Central Govt. Employees long back.
UFBU Unions couldn't add even add a fraction of a percentage to wage increase load over and above what IBA had decided 6months back itself!
Seems that settlement will be arrived at within 90 days.
Shame...Shame!!!
The above critical analysis has been made as per the published contents of MOUS
We understand that today(22/7/2020) both IBA and UFBU Unions have reached a broad understanding by signing an MOU.
Main features as we can make out from the contents of the so called MOU are:-
1. Wage revision with effect from 1.11.2017.
2. Salary and allowance
Increase will be 15% of wage bill as on 31/3/2017: i.e. wage bill 7 months prior to the effective date of new wage settlement!
3. IBA saved several Crores on wage load due lesser wage bill as 7months wage expenditure on account of DA increase has been ignored by IBA - curtsy: UFBU Unions!
4. Merger of DA points into Basic as was prevailing as early as 17 months (June 2016) prior to the due date of wage revision (1/11/2017). This will result in lesser Basic Pay and IBA will reap the benefit by saving thousands of Crores due to merger of lesser DA points with Basic Pay - Curtsy UFBU Unions!
5. Actual increase in Basic Pay is just 2.5%(In 10th Bipartite it was 2%! An achievement of 0.5% increase! In the 9th BPS it was around 6 to 7% increase)
Bravo.. UFBU..Bravo..!
6. Out of Rs.7898 crores, just Rs.1155/- has been ear marked towards estimated increased expenditure on account of increased Basic Pay and DA! This come to just 14.5 paise for every Rupee increase in Wage expenses!
7. Basic Pay being an important factor for wage component like HRA, CCA and Retirement benefits like Pension, Gratuity, PF, NPS and Commutation etc., UFBU Unions surrendered the very Basic Pay of Bank Employees, there by thwarted decent wage increase!!
8. Special pay merger issue is no taken care off, which has greatly affected pensioners.
9. Pension upgradation issue is left unattended.
Waah. Whaahh......
Bank Managements/IBA saved several Crores of Rupees expenditure at least for the next five years on account of Pension, PF, NPS, Gratuity and commutation due to lesser Basic pay! Thus Employees legitimate salary and Retirement benefits surrendered by UFBU Unions!
For the first time in the Bipartite history the so called *Revolutionary/intellectual leaders* accepted *Performance linked Incentive*(PLI) knowing fully well that workmen and Officers have no say in the running of the Bank's day today affairs, loss or Profit in Business, that too when Banks after Banks are declaring net losses now!
UFBU Unions were indicated that they may agree PLI in 9th and 10th BPS itself, but some how postponed the same till 11th BPS!
This is nothing But abject surrender to the IBA dictates!!
Another shameless surrender is including encashment of our own hard earned Privelege Leave under the wage cost!
What a back bending by UFBU Unions. How can our own legitimate PL encashment can be accounted under wage increase??
*UFBU leaders seems to have decided that this settlement itself is the end of the Bipartite Journey*!! Must have lost confidence in themselves to bargain better wage increase!
In the name of creating Robust Banking System, the Employees interests have been bartered as if Employees are not part of the promised Robust Banking System!
Contribution to NPS increased(on Basic and DA) to 14%. This was done for Central Govt. Employees long back.
UFBU Unions couldn't add even add a fraction of a percentage to wage increase load over and above what IBA had decided 6months back itself!
Seems that settlement will be arrived at within 90 days.
Shame...Shame!!!
The above critical analysis has been made as per the published contents of MOUS
18 comments:
These are the same persons who were blaming UBFU for nonaction on wage revision front..instead of name calling UBFU we must understand hostile PM and FM in the background.if the MOU wasnot signed now, govt would never allow any wage revision.Govt n IBA have been delaying wage revision from Nov 2017, could anyone do anything about it?When Banks are being merged ruthlessly without giving a second thought, could we do anything? No , because the circumstances are such. I feel whatever wage revision UBFU could achieve is a fair succes on their part.Let us not spoil the small happiness banker community has got by this wage revision.
Issue of special pay to be included as part of pay for calculation of pension needed to be tackled strongly as all of the employees have to retire one day. Moreover supreme court has also given their verdict in many cases in its favour. As many negotiating members of UFBU are already retired employees ,they appear to have been compelled by IBA to keep silence on this issue, reasons best known to them.
Leave the organisation if you are not capable of doing anything for the workforce. This has happened in the past as well. If government was not agreeing for decent pay hike, why you compromised on behalf of them without even consultation. You are not loyal to your followers, but did it for your petty personal gain. You should have sticked to a minimum hike duly taking into account the salary of central government employees. Shame on you. You are not a bunch of leaders but cheaters.
There should be every year Increments that to specifically starts from JANUARY & JULY thus nobody will be deprived of INCREMENT BENEFIT, now most of are SUFFERED / VICTIMIZED BY THE LOSS OF BENEFIT..
ALL THE NEGOTATING MEMBERS HAVE SACRIFICED THE WELLBEING OF BANK STAFF FOR THEIR OWN BENEFITS KICK THEM OUT THEY ARE UNFIT AND AGED GROUP.
Good job especially in a hostile anti labour environment
You are right friend ....in such circumstances nothing could be better than this ....we all if are not understanding the situation then need to see what is happening around .... anywhere do you have the liberty to speak right or wrong ...
Special pay should be added to basic pay, as otherwise, no benefit to either working staff or retired employees.
Nonsense, union leaders are astrolgers now, predicting that it would never be done in future. Shameless/ spineless and sold-out union leaders are now blaming this and that for their chicnary and abject surrender. Besharam communists
Chamcha ram
I guarantee by next wage rivision all old old would not be there and new people will down gov to there nees for our genuine demands. Shame ufbu chv your days are over now
We as a group of pensioners should forget about updation of pension when the settlemnt itself is a sell out and people are citing hostile environment . In present circumstances it us for the first time that public sympathy and media is with bsnkersxdye to the performance by staffcunder very trying circumstances we could have utilized it in our favour byblaunchung prior virtual campaign for a better settlement.
It seems that writer is perjudiced and preoccupied. Today we are getting nothing in the profit of the bank if an understanding has now been reached what is the harm in accepting this. Similarly encashment of privileged leave every year will benefit the employees in need. 14% employer NPS Contribution has been explained as if it is not a significant thing. Please do not be biased. Your healthy criticism are welcome.
Special pay should be added to basic pay, as otherwise, no benefit to either working staff or retired employees,so this is important demand.
This settlement should have been finalised long back. The talks began in May 2017, but the charter of demands was not ready. Unions will get mory levy if the settlement gets delayed. Govt has gone ahead with mergers and are now talking about privatisation. Bankers have lost faith in Unions, but is there an alternative?
Demands of pensioners are buried
Shame on UFBU who have cheated pensioners with out doing any updation of pension
Worst settlement in the history of Bipartite settlements.
Net pension is going to reduce in case of employees retired after 01.11.2017, then how it can be said wage revision?
Shame! Shame..
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