Expected DA for banker from Feb 2023 only 2 to 8 slab

 

July 2023	139.7
Aug 2023	139.2
Sep 2023	137.5

Expected DA Calculation Updated on 30.11.23 on the basis of CPI for the month of Oct'23 with the assumptions of CPI for the next two months as mentioned hereunder. The CPI for the month of Oct'23 announced today as 138.40 (as per revised base year 2016) (The base year was changed from Oct 2020)

1. On assumptions if there is an average of increase of 0.90 in the next two months, keeping in view on going regular rise in prices of commonly required daily needs items / commodities which is making month over month difficult to manage family budget. Accordingly, on this assumption, we may expect there would be an increase of 8 slabs and the total tentatively revised DA slabs would be 701 from Feb'24 in terms of 11th BPS.
2. On assumptions if there is is an average of increase of 0.60 in the next two months, we may expect there would be an increase of 3 slabs and the total tentatively revised DA slabs would be 696 from Feb'24 in terms of 11th BPS.
3. On assumptions if there is is an average of increase of 0.50 in the next two months, we may expect there would be an increase of 2 slabs and the total tentatively revised DA slabs would be 695 from Feb'24 in terms of 11th BPS.

Next round of bipartite talks on 7th Dec 2023

Next round of bipartite talks with main Negotiating committee is on 7th Dec. at. 3.30 pm

Wage hike for banker lijely by mid dec with 5 days banking

eSHRAM Cards

*e-SHRAM CARDS*

*Pl help ur maids, servants & others to have e-SHRAM Cards.* 

*What are the main Advantages?* 

All e-Shram card holders get free insurance of Rs 2 lakhs & free treatment up to Rs 5 lakhs

Your housemaid / servant / driver working at home or salesgirl / salesboy working in your shop & nearby shops, rickshaw puller etc. all have free insurance of Rs. 2 lakh & free treatment up to Rs 5 lakh.

*Who is eligible?*

All persons whose age is between 16 & 59 yrs

*Who is not eligible?*

One who collects income tax. Who is a member of CPS/NPS/EPFO/ESIC

*HOW TO APPLY?*

Registration can be done at any of the Choice Center / Public Service Center (LSK) / CSC / Post Office near you. One can also register oneself on the website 

eshram.gov.in

*Documents required for application:*

Only Aadhar No., Mob No., & Bank acct No. are required.

*What will be other benefits in addition to Free insurance of Rs 2 lakh and free treatment of 5 lakhs?*

- Benefit of all schemes of labor department like scholarship to children, free cycle, free sewing machine, free tools for ur work etc.

In future, the ration card will be linked to this, so that ration will be available from any ration shop in the country.

*In fact, this card can be made for every worker visible around you. Examples of different types of laborers / workers, whose e-Shram card can be made are as follows:*

Housekeeper - Maid (Kam Wali Bai), Cooking Bai (Cook), Safai Karamchari, Guard, Reza, Coolie, Rickshaw Driver, Seller of any kind of goods in a handcart (Vendor), Chaat Thela Wala, Bhel Wala, Chaiwala, Hotel Servant/Waiter, Receptionist, Inquiry Clerk, Operator, Every Shop Servant/Salesman/Helper, Auto Driver, Driver, Puncturer, Beauty Parlor Worker, Barber, Cobbler, Tailor, Carpenter, Plumber , Electrician, Painter, Tile worker, Welder, Farm worker, NREGA worker, Brick kiln worker, Stone breaker, Mine worker, False ceiling worker, Sculptor, Fisherman, Shepherd, Dairyers, All cattlemen, Paper hawkers, Zomato Swiggy delivery boys, Amazon Flipkart delivery boys (courier ones), Nurses, Wardboys, Ayas, Temple priests, Daily wage earners of various government offices, Collector rate workers, Anganwadi All types of person can be registered i.e. worker assistant, mitanin, Asha worker etc.

*The person reading this msg is requested to at least share this msg in ur Contact / Gps, so that the needy person / laborer can be registered*.

Bank strike call by ban unionhas been deferred

Just received a message from the Office of Chief Labour Commissioner (Central) that the Strike Call given by AIBEA has been deferred.  

Honestly speaking the purpose of this unique Strike Call was not what has been displayed in the propaganda of Red Flag Union which is primarily responsible for allowing bank management to reduce the number of Bank Employees.

Truth is that present Government wants to conclude wage revision in shortest possible time and in any case before Lok Sabha Elections so that it can attain the support of Bank Employees. How can early settlement would be acceptable to those who have turned Trade Union into trade and their prime attention is always on amount of levy, more the delay in BPS, more the quantum of arrears and more the amount of levy.

Today, no assurance was given by representative of Government participating in conciliation proceedings. Reliable sources reveal that representative of Government showed anguish of the Government over the way Call for Strike was given without exhausting legal procedures. The present leadership of Red Flag Union does not has the courage which its yesteryears leaders had displayed. As a result, Strike has been differed and the money, efforts and energy got wasted. 

We Bankers will expose the truth in its live session.

Pension Updation of retirees upto 31/10/2022

Bank retirees are aware of all the  facts regarding pension negotiations,which are on record so far.

Indian Banks Association (IBA) had long back   filed an affidavit before the Supreme Court stating that it would neither be appropriate nor possible for the Banks to consider the request of the bank retirees for Updation of Pension.

IBA has also  publicly  informed  that the matter of pension updation of  Banks is sub-judice in Hon’ble Supreme Court of India.So IBA is in no position to consider revision of pension.

It is also  pertinent to note that  in the recent  AIBEA circular it is  mentioned that 

" Regarding pension updation,IBA explained the cost implications of the same,but they are trying to work out some  possible solution to improve the pension of all retirees up to 31/10/2022"

we don't know what "improvement"means,which is certainly not pension updation.Upgrading all pension at 8088 points will not construe as an improvement.

      The biggest surprise so far is that UFBU,  which is authorised to negotiate wage settlement  on behalf of bankmen is "inviting suggestions from the members regarding pension updation for retirees."This appears to be a somersault from UFBU.More importantly UFBU is not at all talking about pension updation on RBI line.UFBU is in no mood to talk about revision of pension 'head on' with IBA  even now.IBA/UFBU team is trying its best to hoodwink our innocent bankmen.

From the above happenings,it is  crystal clear that pension updation will not materialise through  the Bipartite mechanism. The only hope and  solace for the bank retirees at present is Supreme court,which can deliver the appropriate justice(with some delay),which we are all longing  for.

Vacancy position of public sector bank

Pension Updation--Immediate Implementation of Regulation 35 (1) of Bank Employees Pension Regulation is sought.

_______________________________________________________________________

 The Chairman, Indian Banks’ Association, Mumbai.

 Respected Sir, 

Sub: Pension Updation--Immediate Implementation of Regulation 35 (1) of Bank Employees Pension Regulation is sought.

 We wish to write in detail about the above subject so as to give a clear and unambiguous position of our demand and the stand of our Organisation. It is with immense pain and anguish of more than Seven lakhs senior citizens and super senior citizens of the banking industry; we have been impressing upon Banks/IBA/DFS the urgency to implement the provision relating to Updation of Pension as contained in Bank Employees' Pension Regulation 35(1) amended in 2003. It is a matter of utter disgust that the amendment of 2003 carried out by the Banks Boards under the powers conferred by Section 19 of the Banking Companies (Acquisition and Transfer of & undertaking) Act, 1970/82 with the previous sanction of the Government of India and in Senior Office Bearers PRESIDENT  SHRI K.V. ACHARYA,  MOB - 9868220338 GENERAL SECRETARY  SHRI S. SARKAR  MOB – 9674188524 WORKING PRESIDENTS: ==================== 1. 1. SHRI C. GANGADHAR  Yadav  MOB – 9440528806 2. SHRI P.S. PATKI  MOB – 8805607239 3. SHRI S.B.C.  KARUNAKARAN,  MOB – 9444772016 4. SHRI A.N.  KRISHNAMURTHY,  MOB NO. 9845697198 5. SHRI S. KUPPUSWAMI  MOB- 9444315928 SR. VICE PRESIDENTS: ===================== 1. SHRI M.R. GOPINATH  RAO.  MOB – 9886309244 2. SHRI R.S. TRIVEDI  MOB – 9825049640 3. SHRI R.M. JOSHI,  MOB NO. 9820127193 4. SHRI R. K. SHARMA  MOB – 8171461116 5. SHRI RAM PAL  MOB – 9784405801 6. SHRI K.S.  RENGARAJAN  MOB- 9941304028 7. SHRI TOM. THOMAS  MOB – 9447661680 8. SHRI PREM KUMAR  MALHOTRA  MOB- 9425156535 9. SHRI N.K. PAREEK  MOB – 9829015773 10.SHRI S. NAGARAJ  MOB – 9986644118 11.SHRI PRAKASH  KAROTYA  MOB- 9818821395 TREASURER: ============= SHRI TARUNESH CHATTERJEE,  MOB -9051601591 ALL INDIA BANK PENSIONERS’ & RETIREES’ CONFEDERATION  (A.I.B.P.A.R.C.) ------------------------------------------------------------------------------------------------- consultation with the Reserve Bank of India is being undermined by Banks/IBA/ to the disadvantage of several lakhs of Bank Pensioners. It is beyond human comprehension and does defy logic and reasoning that an amended provision which is duly notified in the Gazette of the Union of India and placed on the floors of both the Houses of Parliament is not respected by the Executive and thereby rendering the Legislative Machinery of the Indian Democracy irrelevant. In this background, it is humbly submitted that Banks/IBA/DFS making submissions before various Parliamentary Committees, High Courts, and Supreme Court of India that there existed no provision for Updation of Pension in Banks is not only contemptuous but a breach of the privileges of Parliamentarians. The Honourable Ministers have been made by IBA/Officials of the department to deliver apparently unfounded statements in reply to Questions raised by various Members of Parliament in Lok Sabha and /Rajya Sabha that there existed no Updation Provision in Banks Pension Regulations. When such questions are related to Pension Regulation 35(1), IBA has been deflecting the issue by making a reference to Pension Regulation 37, which provides for half yearly revision of Dearness Relief, which is linked to Consumer Price Index. We sincerely believe that IBA/DFS would understand the serious implications of such falsehood reflected through the replies by Hon'ble Ministers in Parliament. It is in this backdrop that we sincerely request IBA/DFS to show due respect to the provision of Updation as contained in Regulation 35(1) without any further delay. It calls for immediate notification of Pension Updation Formulae for various Bipartite Settlements/Joint Notes after 01.11.1987 as done in case of Pensioners of RBI and NABARD. It must be appreciated that RBI had originally implemented Updation of Pension in the year 2002 but the Government had formalised it w.e.f. 01.3.2019. In case of other Banks the Updation is due from 1992 Wage Settlement, but we have rationalised our demand for updation for the purpose of monetary benefits w.e.f. 01.03.2019 as our Pension Scheme as patterned on RBI Pension Scheme. We wish to further state as under in respect of implementation of Pension Regulation 35(1) which clearly and specifically provides for Updation. 1. This is a pleasure to see that IBA at the instance of GOI is engaged in wage revision talks with UFBU at an accelerated pace and it is expected to be completed shortly within a definite time frame. But it is also high time for you to attend to the issue of Pension Updation immediately as Updation of Pension has not been done since 1992 with every subsequent Wage Revisions for Serving Employees. The Banks/ IBA/ Government are now to arrive at the periodical updation formulae as done in case of RBI and notify the same as a part of Appendix 1 for all the batches of pensioners retired between 01.11.1987 to 31.10.2022. Since the Public Sector Banks are the “State” within the meaning of Article 12 of the Constitution of India and Banks Pension Regulations providing for Updation of Pension are Subordinate Legislation, it is a statutory obligation on the part of the Banks to periodically update the pension simultaneously with the Pay Revision as is done for the Government Pensioners. It is also ruled by the Hon’ble Supreme Court that the Salary Revision and Pension Revision are inseparable and constitute a legal right. 2. In view of such an unambiguous provision for updation, the Bank Pensioners have been demanding updation of Pension for all the Pensioners from respective dates of their eligibility for the updation. But after the Government granted the benefit of Updation of Pension for the employees of RBI, Bank pensioners have rationalised/scaled down their demand by requesting for grant of RBI Pensioners Updation Formula for all the banks and with the same date of effect i.e. 01.03.2019.  We have already handed over the details of our workings of annual cost of pension updation on the basis of RBI updation formulae which is to be used for updation of pension of PSBs including SBI and other member Banks of the Private sector. In case, however, you require the same for ready reference, we shall submit the same again if you so require. It is confidently submitted before you that the Pension Funds of the banks are quite healthy and robust as certified by the Auditors in different banks. Pension Funds can afford Updation of Pension using the same Factors as done in the case of RBI without affecting the Balance Sheets at this juncture. The higher funding requirements indicated by the IBA's Actuaries are on account of assumption of higher life expectancy, lower yield, undermining the huge sums available in Pension Funds by treating the cost of Updation of Pension as standalone by delinking it from the existing Pension Funds and present yields thereon which are quite robust etc. Hence an annual cost of Pension Updation for all PSBs including SBI works out to be approximately Ra.3280/ crores. It is well within the affordability and long-term sustainability of the Pension Funds. We consider the actuarial estimate exercise on the part of IBA as a myth apart from being a diversionary and a frightening one by projecting an astronomical figure to the stake ALL INDIA BANK PENSIONERS’ & RETIREES’ CONFEDERATION  (A.I.B.P.A.R.C.) ------------------------------------------------------------------------------------------------- holders thereby delaying/denying the legitimate updation. It is pertinent that every bank is causing an actuarial estimate every year as at the end of 31st March in terms of Pension Regulation 11. Pension Regulations do not have any provision for IBA to engage in causing Actuarial Estimates. The type of Actuarial exercise undertaken by IBA now, was not done even in 1993 at the time of introduction of Pension Scheme in Banks. 3. It is re-iterated that the Pension corpus is required to be funded in terms of Pension Regulation 5(3) and Regulation 7(a) to (h). Further, in terms of Regulation 11, the Banks are required to cause an investigation by an actuary into the financial condition of the Fund and make such additional annual contributions as may be required to secure payment of the benefits under the Pension Regulations which invariably include Updation of Pension as provide under Regulation 35(1). Another very important point which should be taken note of is that there had been virtually no recruitment in the Banking Industry for 14-15 years i.e. from after 1985 to 1998. Our Pension Scheme covers the recruits prior to 01.04.2010 as New Pension Scheme was introduced for those who are recruited on or after 01.04.2010. Such of those employees who are covered under our Pension Scheme (Old Pension Scheme) would all retire by 2047. Till that time contributions by them by surrendering their CPF plus accretion of income on that will be there. Hence substantial amount in the Fund will remain even after the last Retiree leaves the world. The Funds available for payment of Pension and Family Pension in the respective Banks Pension Funds need to be utilised only for the benefit of Pensioners and for no other purpose. The Banks/IBA/DFS need to focus on that and ensure that Banks do not transfer surplus funds to their Profit and Loss accounts to utilise to write off the toxic assets as done by many banks. 4. We are also happy to see that because of our repeated assertions on the issue, Pension Updation is now not a subject of remote understanding to various decision-making authorities. There had been a time when GOI/ IBA/ even a few constituents of UFBU held the opinion that there was no provision for Pension Updation in the BEPR (1995) and later on they started saying that Appendix 1 of Regulation 35.1 was just a formula of an anomalycorrection of a particular batch of Retirees. Because of our assiduous efforts, it has now come on record that Pension Updation is universally applicable to all eligible retirees by virtue of an amendment done in the BEPR (1995) in the year 2003 which has been duly gazetted by GOI. With a view to provide universal coverage of the benefit of updation of pension, on the instructions of the Central Government headed by the Statesman Prime Minister Shri Atal Behari VajapayeeJi and in consultation with Reserve Bank of India, the Banks amended the Regulation as under: “Basic pension and additional pension, wherever applicable, shall be updated as per the formulae given in the Appendix 1” (Government Gazette Notification Dated 1st March 2003 IN CASE OF IOB Regulations and Gazette notification dated 15.03.2003 in case of Bank of Baroda.) It is needless to mention that all the supportive documents in this regard had been handed over to the officials of IBA in course of our meeting on 11.10.2022. We demand updation of pension for all Retirees upto 31.10.2022 in terms of Regulation 35.1 by notifying updation formulae/factors by DFS/IBA as done in RBI w.e.f 01.03.2019 as our scheme is based on RBI scheme. We have with ourselves (which IBA also do possess) the copies of letters written by IBA to Com. R.N. Godbole, the- then General Secretary of AIBOC in the years 1993 &1994 wherein it has been reiterated that our Pension scheme is modelled on Central Government and RBI patterns. Although we have submitted all such relevant papers to the officials of IBA, we shall be too willing to refurnish the same on requisition. 5. Now the question comes: who is having the propriety of having dialogue with IBA on Pension related issues? We have clarified our standpoint on the issue before you time and again. AIBPARC and other Apex level organisations of Retirees must have the rightful opportunity of being heard. IBA in pursuance of GOI guidelines, subsequently being backed by the decision of the Managing Committee of IBA advised all member banks to form Grievance Redressal Mechanism at corporate level but strangely enough IBA is denying the consultative status at its own level. It has been told to us on several occasions that IBA had the authority from member banks to talk to the serving organisations on wage revision and not with the organisation of Retirees on matters relating to pension. ALL INDIA BANK PENSIONERS’ & RETIREES’ CONFEDERATION  (A.I.B.P.A.R.C.) ------------------------------------------------------------------------------------------------- Now a pertinent question comes: wherefrom IBA got the authority of talking to the serving organisations on pension updation without getting specific authority from member banks or the actual beneficiaries till today? We demand that the issue of pension updation must be discussed with the Retirees' & Pensioners' Organisations who know where the shoe pinches and not others who are representing serving employees/ officers. 6. The cost of Pension updation as falsely envisaged by IBA till today is more a myth than reality. We are unaware of who have been making the calculations, what the assumptions behind the calculation are and who would check up the accuracy and veracity of calculation. We do believe that it is an undeniable obligation on the part of Banks to update the pension of all eligible Retirees as per formulae given in the BEPR (1995) Vide Regulation 35.1 -- Appendix 1 with amendment as done in the year 2003 irrespective of cost. We strongly believe that certain imaginary and astronomical cost is sometimes talked about which has little connection with reality. We have handed over to the officials of IBA the cost calculation of Pension updation and we are available for consultation at any point of time for explaining our calculations. The calculation sheet submitted by AIBPARC clearly shows that it is a manageable burden and can be taken care of by the existing Corpus available with Bank's. The only anxiety of the Government as conveyed to us during our Meeting was that whether the Banks could manage the Cost of Updation on their own. We have clarified to them and to IBA also that the Pension Corpus with annual yields on that vis a vis the Pension out go the cost is absolutely manageable. Pension Regulations having Statutory Force and Pension Corpus being robust and our demand for updation being fair, just and legal, implementation of Pension updation is inescapable. Equally important is to involve the Apex level Retiree organisations on their issues. 7. We like to make it categorically clear that any distorted version or interpretation of the concept of Pension updation is not acceptable to us as it is illegal and unjust. You are well aware of the fact that UFBU by different correspondence with IBA created an unwarranted controversy by demanding updation of Pension for “Past Retirees”. When we pointed out the fallacy through the good offices of CLC, the UFBU understood their mistake and their position in this regard has been corrected by a letter written to IBA on 1st February, 2023 where Pension Updation was demanded by UFBU for all retirees from 01.01.86 to 31.10.2017. IBA may kindly take note of it that any deviation from the stated stand of UFBU as on 1st February, 2023 cannot be and should not be accepted. 8. We have noted with serious concern that a major constituent of UFBU has again drifted away from the stated position of UFBU at the most inopportune time to confuse the issue of Pension Updation by floating apparently mischievous suggestion of upgrading all pension to 8808 points of DA. There has been a clever attempt to make people feel that the two words “updation” and “upgradation” are synonymous. While “updation” in fact aims at ensuring that a pensioner does not draw a pension which is lesser than 50% of the corresponding basic pay in the revised pay scale, the word “upgradation” is an altogether different concept which is available in Government Pensioners Scheme in addition to updation in a completely different context depending on age factors of 80 and beyond. The major constituent of UFBU has knowingly and deliberately created this confusion to do real harm to the concept of “updation of pension” as it has been stipulated in Regulation 35.1- Appendix 1 with amendments made in 2003. Our organization has already done a detailed working on the subject and we shall issue a separate letter to you telling the arithmetical part of it and exposing the real mischief being attempted by the said organization to harm the interests of the senior citizens of the industry. Here it would suffice to mention that Pension Updation formula for Government Pensioners and RBI Pensioners is computed by using Basic+DA+10% loading and we would not accept any dilution or distortion therein. We would request your Good Self to respect the legal provisions as elaborated hereinbefore while updating our Pension. To sum up, we demand the following: i. The IBA should implement Regulation 35.1 on Updation immediately as done in RBI. In case any discussion is required on Updation issue, AIBPARC along with other apex - level organizations of Pensioners & Retirees should be called immediately for discussion on the issue of pension updation and other related matters. ii. The papers already submitted in the office of IBA – the original regulation, the amended portion of the regulation, ALL INDIA BANK PENSIONERS’ & RETIREES’ CONFEDERATION  (A.I.B.P.A.R.C.) ------------------------------------------------------------------------------------------------- the relevant extracts of different court cases, calculation chart showing the cost burden, the copies of correspondences between IBA and AIBOC in the years 1993-1994 be studied with all seriousness. In case of any clarification/explanation needed from our side, we are available on call or in person. iii. Updation of pension for all the wage revisions is to be done in the letter and spirit of the RBI formulae and no distortion or misinterpretation by any quarters is to be allowed. In fact, the implementation of RBI Formulae for Updation of our Pension ipso facto, does not want any further negotiation. With kind regards,  K V Acharya Suprita Sarkar  President, AIBPARC General Secretary & Joint Convener, CBPR

Central Bank Manager declared fugitive by court in Rs.3 crore fraud case

A former manager from the Aligarh’s Naurangabad branch of the Central Bank of India faces charges of fraud, with 30 cases registered against him.

On Friday, a local court declared Amarjeet Singh, 42, a “fugitive” as he is accused of embezzling approximately Rs 3 crore of customers’ funds. Singh, who is currently evading authorities, has become the subject of an ongoing effort to apprehend him, according to Deputy Superintendent of Police Ashok Kumar.

The legal proceedings involve attaching Singh’s properties as part of the investigative process. The case originated from a complaint filed by the bank’s regional head, Rajesh Gaira, in April of this year. Initially booked at the Quarsi police station in Aligarh under IPC sections 420 (cheating) and 409 (criminal breach of trust by a government servant), Singh and his associate, Saurabh Gupta, were accused of siphoning off Rs 30 lakh from the bank.

However, a subsequent internal bank inquiry revealed that the actual amount involved was significantly higher, estimated to be around Rs 3 crore.

Upon learning of the expanded inquiry, 30 bank customers, whose funds were allegedly misappropriated, filed police complaints. One victim, Mukesh Chaudhary, a contractor, reported not receiving transaction messages from the bank and being unaware of his financial status.

In June, after Amarjeet’s associate surrendered before the court, three more individuals were arrested in connection to the fraud case. The accused included assistant bank manager Punit Verma and two cashiers .

In addition to the ongoing police case, the economic offences wing is conducting a separate investigation, as confirmed by Rajesh Gaira on Friday.

Young vs Old

*YOUNG V/S OLD* 

​When *YOUNG*, 

I was *WORRIED* about 

*MY PIMPLES*. 

When I am *OLD*, 

I am *WORRIED* about 

*MY WRINKLES*. 

*When I was YOUNG*, 

I was *WAITING to HOLD HER HAND*. 

*When OLD*, 

I am *WAITING for SOMEONE to HOLD MY HAND*.

When *YOUNG*, 

I was *LONGING to be ALONE*.

When I am *OLD*, 

*I am WORRIED* why 

*I am ALONE*.

*When I was YOUNG*, 

*I HATED being  ADVISED*. 

*When OLD*, 

there is *NO ONE* around to *TALK or ADVISE*.

*When YOUNG*, 

*I ADMIRED BEAUTIFUL THINGS*.

*When I am OLD*, 

*I see BEAUTY in THINGS around ME*.

*When I was YOUNG* 

*I felt I was ETERNAL*. 

When *I am OLD*, 

*I know SOMEDAY it will be MY TURN*.

*When I was YOUNG*, 

*I CELEBRATED the MOMENTS*.

When I am *OLD* 

*I am CHERISHING MY MEMORIES*.

*When I was YOUNG*, 

I found it *DIFFICULT to WAKE UP*.

*When OLD*, 

I find it *DIFFICULT to CATCH UP on MY SLEEP*.

*When I was YOUNG*, 

*I WANTED to be a HEART-THROB*. 

When *OLD*, 

*I am WORRIED when will MY HEART STOP*.

At *EXTREME STAGES of OUR LIFE*, 

*WE WORRY* 

but 

*WE DON'T REALIZE*, 

*LIFE NEEDS to BE EXPERIENCED*.

 

It *DOESN'T MATTER* whether *WE are YOUNG or OLD*. 

*LIFE needs to be LIVED* 

and 

*LIVED WITH LOVE*.

ALL INDIA BANK STRIKE FROM 4TH DECEMBER 2023

70 Hours a week work for Nation Building & Growth-They want to suck Happiness

When Youth of this Country is facing UNEMPLOYMENT ISSUE but Corporate Bosses like @Infosys_nmurthy founder member of @Infosys batting & giving Lecture to Youth for 70 Hours a week work for Nation Building & Growth. Why don't they hire & recruit more Youths as Bank Staffs (Officers & Clerks) and provide boost in the economy by increasing the productivity and purchasing power of Masses instead of exploiting existing Staffs like Blood Sucking East India Company. They Don't want to give a Healthy Work Culture nor a Good Salary Package but want to suck Happiness, Your Health, Your Life in exchange for a Few Bucks. Already Bankers are overburdened with so many Ambitious Socio-economic Govt Vote Bank Schemes even they are forced to open Branches on weekend Holidays to implement various Social Securities Schemes like PMSBY, PMJJBY, APY and Loan Schemes like PMSVANIDHI etc. Due to Mounting Business Target Pressure through various WhatsApp Groups by Bank Managements till late nights leading to stressful Conditions among Bankers with #NoWorkLifeBalance #NoTimeForFamily #NoTimeForSelfCare sometimes forcing them to take drastic steps like Su*c*de beside various Physical & Psychological Health issues. Give us

#5DaysBanking

#RozgaarBadhaoKaamKeGhanteNahi

#EnsureWorkLifeBalance

#RecruitSufficientWorkForce

From "I don't" to "I did it". A successful banker

From "I don't" to "I did it". A successful banker

The only thing between them is process. And of course, process takes courage. Take courage my friend, you'll get there. You'll get there

UCO Bank seeks CBI help in Rs 820 crore money transfer mess

tate-run UCO bank has sought the intervention of the apex probe agency, the Central Bureau of Investigation (CBI), in the Rs 820 crore money transfer case, where valid transfers were erroneously rejected yet the money was credited to both the sender and the recipient, said a top official

"We have approached the CBI, and very soon we will  hear from them on this matter,” the official said on condition of anonymity.

“We are seeking their help in the matter, where the bank erroneously  rejected valid transfers from customers of 6-7 other banks, and credited the money both to the sender and the recipient. The bank has not been able to recover the full amount," added the official.

An email sent to CBI seeking its response on the matter remained unanswered till the filing of this story.

At the heart of the matter is a technical glitch in the Immediate Payment Service (IMPS), an instant interbank electronic fund transfer service, on November 15, according to UCO Bank.

In a regulatory filing on November 16, the lender said that, ``The recipients’ accounts have been frozen, and it has recovered Rs 649 crore, or 79 percent of the amount."

The bank added that it has initiated steps to recover the balance Rs 171 crore.

Ashwani Kumar, managing director and chief executive officer, UCO bank, told Moneycontrol that the bank has also sought help of the RBI and other banks to sort out the issue.

"We have written to several banks for their help on this matter. They are also helping us in the recovery process," said Kumar.

He added that they are also seeking the RBI’s help to address the technical glitches, along with the bank’s internal experts.

On November 15, UCO Bank took the IMPS money transfer option offline after a technical glitch caused valid transfers initiated by customers of other banks to be rejected. A senior official told Moneycontrol that errors occurred when customers of 6-7 banks initiated transfers to UCO Bank customers, due to which UCO Bank’s system sent a “transaction failed” message to the remitter banks and credited the money back to them, while also crediting the money to the intended recipient.

Kumar added that despite the festive season, the bank took immediate action, and the teams worked overnight to recover the monies.

The discrepancies were noticed during the period from November 10 to 13. "We are working closely with the stakeholders to resolve the issue and restore the IMPS services at the earliest. The matter has also been reported to the law enforcement agencies for necessary action," said the official.

Digital banking issues

In the last few months, banks have witnessed several technical issues amid the push for digital banking. In October 2023, the managing director and CEO of the Tamilnad Mercantile Bank (TMB), S Krishnan, quit days after it was reported that the bank had mistakenly transferred Rs 9,000 crore to the account of a cab driver in Chennai. In his resignation letter, Krishnan said he resigned due to "personal reasons.’’

The cab driver, Rajkumar, initially thought it was a scam, when he received an SMS notification stating that Rs 9,000 crore had been credited to his account. Prior to that, he had Rs 105 in his account, according to the Indian Express.

Last month, private sector lender Kotak Mahindra Bank said a customer in Chennai had received a notification that over Rs 753 crore had been deposited in his account due to a glitch in the SMS messaging system.

An incorrect account balance was shown in the UPI reversal alert message that was sent to a small subset of customers due to the glitch,’’ Kotak Mahindra Bank said in a statement in response to Moneycontrol’s queries.

UPI, or the Unified Payments Interface, facilitates online fund transfers between bank accounts. “The incorrect account balance was reflected only in the message and not in the customer's account. We wish to confirm that the customer's account was not blocked. The team is working on rectifying the message and we regret the inconvenience caused," a Kotak Mahindra Bank spokesperson said.

We need 40% hike as because LIC officers were getting 35.55% higher salary than Bank officers

Comparison of Salary of Bank Officers with LIC Officer

• As on 01.11.1992 the Basic Pay of officers of Bank and LIC at entry level were same.

• As on 01.11.2007 LIC officers were getting 14.40% higher salary than Bank officers.

• As on 01.11.2012 LIC officers were getting 18.58% higher salary than Bank officers.

• As on 01.11.2017 LIC officers were getting 35.55% higher salary than Bank officers

So, it is crystal clear that the Bank Officers' salary is drastically being reduced gradually resulting in erosion of wage in comparison to LIC officers. In the same principle of the Pillai Committee recommendation, Bank Officers salary should be at par with the Govt. as well as LIC Officers.

AN IMPORTANT POINT TO NOTE

Of and on it comes for discussions while salary of Central Govt. employees gets revised at 10 years interval, Bank employees' salary is being revised at 5 years interval. Let us analyse, as under, that despite salary revision at 5 years interval how salary of Bank officers is lagging behind during last 23 years duration in comparison to salary of Central Govt. Officers Group- A at entry level onwards. Please also note that 7th Pay Commission has recommended that without waiting for next pay commission the salary should be revised based on the data given by Simla based Labour Bureau.

#WideningSalaryGapwithSuccesiveBPS

#BankersWantCPCNotPeanuts

#YehBhedbhaavKyun ????

PROPOSED WAGE NEGOTIATIONS DISCUSSIONS WITH IBA

Today's bipartite meeting update IBA offers 16%

Message from UFBU - Today there was daylong negotiations with IBA. IBA improved their offer to 16%  but this could not be agreed by us we requested iba to improve their offer.we also discussed about implementation of 5 day banking and improvement in pension for past retirees. We have signed the minutes on option to resignees to join pension scheme. Circular follows. Chv GS AIBEA

Next 12 th Bipartite talk will be held on 09-11-2023