Negotiations on the 12thBPS between IBA and UFBU

Negotiations on the 12thBPS between IBA and UFBU

IBA Chairman:

Shall we start the business for the day?

UFBU:

Yes, Sir.

IBA Chairman:

This time, we want to minimise the hike in the Basic Pay of Bank Staff. What is your take on it?

UFBU:

Sir, we may consider granting fresh, stand-alone allowances as part of the payslip. Thus, we may ensure negligible allotment of the proposed load to the Basic Pay.

IBA:

For instance?

UFBU:

We may consider sanctioning Mobile Allowance, Broadband Allowance, Stationery Allowance, Furniture Allowance, Learning Allowance, Children Education Allowance, Hygiene Allowance, Depreciation Allowance (subject to approval from Income Tax Department) etc. Besides, we may convert the existing ‘Transport Allowance’ into ‘Fuel Allowance’.

IBA:

That’s fantastic. But, remember to specify all these in unambiguous terms in the Draft that they are all ‘stand-alone’ allowances. They shall NOT rank for any of the terminal benefits. For calculation of Dearness Allowance also, they will be reckoned only to the extent of 25%.

UFBU:

Done, Sirs.

IBA:

What happened to your demand on the ‘Health Insurance premium’ and the bank managements subsidising it?

UFBU:

We may defer it, Sir.

IBA:

That’s good. Do you still want ‘Pension Updation’?

UFBU:

No, No. We will mention it in the Draft just for the sake of the gullible members. We will never insist on it. Nevertheless, if the courts or the DFS, Ministry of Finance sanctions any ‘ex gratia or revision’ to the pensioners, despite our resistance, we must be given due credit.

IBA:

We can think of it, if any such unforeseen scene unfolds in the future. Alright, shall we call it a day now?

UFBU:

Yes, Sir. We are extremely happy on the outcome of today’s negotiation. We are grateful to you for the congenial atmosphere created by you and the courtesy shown to us.

Meeting concludes and all the representatives from either side disperse.