FIVE DAY BANKING by declaring remaining Saturdays as holidays

*Meeting with IBA*

                       on

          *Residual Issues*

On Friday 23 Sept, 2022 Meeting took place between Trade Unions and IBA at IBA office, Cuffe Parade, Mumbai.

*ISSUES DISCUSSED*

1) FIVE DAY BANKING by declaring remaining Saturdays as holidays.

By declaring additional two Saturdays as Holidays per employee working hour loss will be 13 hours (6.30 hours per day × 2. In minutes it comes to 13 hours × 60 minutes per hour = 780 minutes per month.

Total working days in a month are 22 days. (30 day month - (4 Sundays + 4 Saturdays).

780 minute loss can be compensated by working extra on each working day (780 ÷ 22 = 35 minutes) for 35 minutes.

Thus each working day to start 35 minutes earlier. Because if closing time is extended by these 35 minutes, then there will be travelling problems, women will have to work extra till late evening. So better start day earlier.

To this effect Unions may deliver a willingness letter to IBA. Then IBA to recommend five day week to Finance Ministry.

2) DA : Shifting to Index Series 2016 = 100 from 1960 = 100.

May be implemented in near future.

3) Staff Welfare Fund : Allotment to be based on Operating Profit.

Proposal is already with Finance Ministry. IBA to send reminder.

4) Conveyance Allowance to be revised for physically challenged as agreed during XI th BPS. 

IBA to send reminder to Finance Ministry for it's nod.

5) Special Allowance to be paid to Award staff in North East/ Sikkim on same lines as being paid by Central/ State Govt, LIC, RBI etc.

Such proposal of same allowance to Officers & Workmen was sent to Finance Ministry in 2015. IBA to seek DFS guidelines once again.

6) Special Compensatory Allowance : North East/ J & K, HP 

Same discussion and outcome as that given in point 5 above.

7) FAQ/ Clarifications on Fitment of Ex - Servicemen Employees, stagnation increment etc.

In this regard Home Ministry has issued guidelines which were conveyed to Banks through DFS. Accordingly Salary once paid should not be recovered back. Court case too is pending. 

Bipartite Settlement is already signed and implemented long ago.

IBA trying to find out ways.

8) Full pension to be given for 20 year's service instead of present 33 years.

Proposal already with DFS.

Thank you.