UNDERSTANDING D.A. MERGER AND WAGE REVISION PROCESS!!

UNDERSTANDING D.A. MERGER AND WAGE REVISION PROCESS!!

In the meeting 12.08.2013 it is decided to merge 4440 points of CPI with Basic pay.

What does it mean?

As on 01.11.2011 CPI was 4440 for D.A calculation i.e 401 slabs, 60.15%(@0.15% per slab)
As on 01.11.2012 CPI was 4876 for D.A calculation i.e 510 slabs,      76.50% (@0.15% per slab)
Now after merging 4440 points D.A. for balance 436 points i.e 109 slab will remain.
This 109 slab will not be calculated @ 0.15% as it will lead to giving D.A on D.A +basic.
Hence it will be reduced.

To what extent?

In 8 th bi-partite settlement D.A. merger was at 2288 points. % per slab was 0.18%
In 9th bi-partite settlement D.A. merger was at 2836 points. % per slab was 0.15%

How 0.18 became 0.15?

It is simple maths.  (2288/2836)*0.18=0.145=0.15%

Likewise this time it will be (2836/4440)*0.15=0.0958=0.10%
This rate is not announced officially, but this is the method of calculation.

If higher % is announced it is a good news for us. Isn’t it?

What is the effect of merging D.A with Basic Pay?

Example: 

On 01.11.2012

Basic Pay =8000.

 D.A. (old) =6120 (@76.50%)                               

 Total        =14120

On 01.11.2012

Basic Pay  =12812. (160.15% of 8000)

D.A. (New)=1396.50(109*0.10%)

Total          =14208

Now, Basic pay of 8000 becomes 12812

.
IBA has not revealed the % of wage increase yet.

Any % announced will be calculated on 12812 and not on 8000.

This is the effect of D.A.merger.

All our benefits like  HRA, CCA, PF CONTRIBUTION, PENSION, COMMPUTATION,LOAN ELIGIBILITY etc.,are calculated on the basis of basic pay only. Hence we have to increase Basic pay substantially.
Therefore this merger point is a good one.

Effective date from 01.11.2012 and its importance:

In previous settlements effective date was postponed by an year or so and different heads like B.P, D.A., Spl.Allow, etc., was given effect on different dates thereby loosing the arrears substantially.

This time it is achieved from the day one.

===========================================================Posted as received.

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Govt committed to work for betterment of every citizen: Jaitley

Expressing happiness over the conclusion of 10th bipartite wage negotiations between Public Sector Banks (PSBs) and their employees, Finance Minister Arun Jaitley today said the government is committed to work for the betterment of every citizen.

"Our government is committed for the betterment of lives of every citizen, including government employees. The 10th bipartite settlement between PSBs and their employees reinforces the government's commitment to better lives and working environment for the people.

"I am indeed happy for every bank employee on his wage hike," Jaitley said in a Facebook post.

Yesterday, public sector bank employee unions had withdrawn their call for a four-day nationwide strike, with the management agreeing to 15% hike in wages at an extra burden of Rs 4,725 crore per year and acceding to the demand for a holiday on second and fourth Saturdays.

The banks, however, will work full-day on remaining Saturdays instead of the current practice of half-day.

The unions had threatened to go on four-day strike from February 25, demanding 19% hike in wages.

The wage revision would benefit about 8.5 lakh employees and officers in 45 banks, including old generation private sector banks and a few foreign lenders.

Wage revision in PSU banks is done every five years. The previous revision was done in 2007.

Courtesy:Business Standard

AIBOC Congratulates Its Cadre For Settling at 15% Increase + 2 Saturdays Being Off

     We give below the contents of AIBOC circular issued on 23rd Feb 2015, after signing of broad agreement with IBA.  This will give some more insight about the final things that are likely to emerge in next 90 day or so.

Dear Comrades,

HEARTIEST CONGRATULATIONS ! KUDOS TO OUR UNITY !!

LONG AWAITED SALARY REVISION FINALLY SETTLED !!

We convey our heartiest congratulations to all our members on this historic day for achieving a long awaited settlement for which we struggled unitedly and determinedly with all our valor. Ultimately after a period of two years and approximately 4 months and 18 rounds of talks, tenth Bipartite Settlement has been achieved ! This finally brought an end to long period of unnecessary anxiety thrusted upon the minds of each one of us Comrades, Kudos to unity and perseverance of our

members ! Our members are aware of the relentless efforts and innovative ways adopted by our Organisation from time to time to achieve the long pending justified demands. We explored and did not hesitate to traverse all possible routes to reach final destination of wage settlement. In today’s talks also, our Organisation played a major role by taking firm stand on some of the finer points.

One of the issues apart from the Salary negotiation, very dear to our heart, particularly to the lady comrades and other young members has been that of 5 days week. It was only with a great endeavor of convincing the Authorities with lot of facts and figures that IBA partially conceded to our demand and agreed on second and fourth Saturday of the month to be a holiday while making the other Saturdays as full day working. Some of the salient features of the settlement are as under:

PSU bank employee unions withdraw strike call, settle wages

Finance Minister Shri Arun Jaitley Makes an Appeal

Finance Minister Shri Arun Jaitley Makes an Appeal to all the Employees of Public Sector Banks (Psbs), Their Unions & Associations not to Resort to Agitation Approach by Participating in Bank Strike; Says Bipartite Negotiations in a Cordial Manner is the only Available tool for Settlement

The Union Finance Minister Shri Arun Jaitley has made an appeal to all the employees of Public Sector Banks (PSBs) and their Unions & Associations not to resort to agitation approach by participating in bank strike . He informed the employees of PSBs that banks are already in negotiations with their Unions and Associations for wage settlement The Finance Minister Shri Jaitley said that the bipartite negotiations in a cordial manner is the only available tool for settlement. The Finance Minister Shri Jaitley said that participating in the proposed strike is neither desirable nor affordable in the interest of the nation. Making an another appeal to the employees of PSBs, their Unions and Associations, the Finance Minister asked them not to resort to such disruptive means, and call off the call for strike.

March on to implement the clarion call of UFBU’S struggle programmes

UNITED FORUM OF BANK UNIONS

(TAMILNADU)

(AIBEA-AIBOC-NCBE-AIBOA-BEFI-INBEF-INBOC-NOBW-NOBO)

C/o State Banks’ Staff Union, State Bank of India, 84 Rajaji Salai, Chennai – 600 001

Tel. No. : 044-2521 9329 / 2522 7179                                                                      Mobile No.

Fax        : 044-2524 3524                                                                                  94444 12060

E Mail   : sbsuchennai@yahoo.com                                                                  97909 12060                                                                                                                                    

                                                                                          Date : 11-2-2015

TO ALL UNITS OF UFBU-TAMILNADU

Dear Comrades,

• March on to implement the clarion call of UFBU’S struggle programmes
• March on to 4 days’ strike and indefinite strike
• Demand immediate wage revision

By now all our units are aware of the call given by UFBU for further agitational programmes in view of the IBA’s paltry offer in the negotiations held on 3-2-2015.

A meeting of UFBU-Tamilnadu was held in Chennai today in the premises of State Bank of India Officers’ Association.  Com. Thomas Franco Rajendra Dev (AIBOC) presided over the meeting.  The meeting decided and accordingly appeals to all the units and members to gear up their machinery and implement all the programmes successfully.

Programmes in Chennai city:

13-2-2015 At 5-15 PM	Demonstration before Syndicate Bank, Anna Salai    (next to VGP)
20-2-2015	Badge Wearing & Area wise Demonstrations as under
GT Area at 5-15 pm	Indian Bank, Esplanade (Raja Annamalai Mandram)
Anna Salai at 5-15 PM	Oriental Bank of Commerce, Spencer Plaza, Anna Salai
T. Nagar at 4-30 PM	Indian Bank, Panagal park,
Mylapore at 4-30 PM	Bank of Baroda, Adj. to Amrutanjan, Luz
Adyar at 4-30 PM	Indian Overseas Bank, Opp. Adyar (Gandhi Nagar Terminus), Sardar Patel Road
Purasawalkam at 5-00 PM	Indian Overseas Bank, Doveton
Saidapet & Guindy at 5-15 PM	IDBI, 115, Anna Salai, next to Chellammal College, for Women (Halda junction)

Press meet:  A press meet will be organized on 23^rd Feb. 2015 at the press club

Hall Meeting : A Hall meeting is being organized on 21^st Feb. (Saturday).  The venue and other details will be informed to all units shortly.

24^th Feb. 2015:  On the eve of our 4 days strike, a mass demonstration will be held at 5-15 PM on 24-2-2015 in front of State Bank of Hyderabad, Moore Street, Parry’s Corner.

Strike day programmes – Mass demonstrations :  ( at 10-30 AM daily )

25-2-2015	Near Collector’s office, Opp. Beach Railway Station
26-2-2015	Near Valluvar Kottam, Nungambakkam
27-2-2015	Near Chepauk Guest House, Wallajah Road
28-2-2015	Union Bank compound, Broadway, Parry’s

We request all our units and members in Chennai city to take note of the above programmes and mobilise accordingly.

In Districts/Towns:

In all the Districts and town centres also, our units should hold similar joint programmes and demonstrations and make the programmes successful.

With greetings,

Yours comradely,

                                          

                                                              

              (C.M.BASKARAN)

                                                                                                                                          CONVENOR

                

     

                         

Unable to take pressure, bank officer ends life

BHOPAL: A bank official reportedly committed suicide by jumping from third floor of a building at Arera Hills near district jail where counting for civic elections was on, here on Wednesday afternoon. Police said a suicide note was recovered from the spot in which he mentioned he was not able to handle work pressure. 

AIBOC CIRCULAR

We reproduce hereunder AIBOC Circular No.2015/10 dated 04-02--2015 issued by Com. Harvinder Singh, General Secretary, AIBOC, for your information.

         

With  warm  regards,

Yours Comradely,

[ SHEKHAR  KADAM ]

STATE SECRETARY

RELEASE OF EMPANALLED LIST

We are pleased to inform that promotions of the following officers, empanelled for promotion to higher grade/scale in the promotion processes held for 2014-15 (Mainstream), have been released w.e.f. 01.02.2015

Promotion from SMG Scale IV (Chief Manager) to SMG Scale-V (Asst. General Manager)

Sr. No	Name	Present Scale	PF No.	Present Placement	New Placement
1	Mr.S P Bansal	IV	42272	Branch Expansion Cell, Central Office	AGM, Branch Expansion Cell, Central Office
2	Mr.Devendra Kumar Srivastav	IV	40936	ZO Lucknow	AGM, ZO Lucknow
3	Mr. Raj kumar Verma	IV	47318	ARB Kolkata, ZO Kolkata	AGM, ARB Kolkata, ZO Kolkata
4	Mr.Babukutty Zacharia*	IV	45704	ARB Delhi, ZO Delhi	AGM, ARB Delhi, ZO Delhi

Promotion from MMG Scale III (Senior Manager) to SMG Scale-IV (Chief Manager):

Sr No	Name	Present Scale	PF No.	Present Placement
1	Mr.T Mukundan	III	41540	RO Trivandrum, ZO Chennai
2	Mr.Dwijen Dutta	III	67718	B/O Ulubari, ZO Guwahati
3	Mr.M Murugesan	III	55859	Vigilance Officer, RO Bangalore, ZO Hyderabad
4	Ms.Pratibha Badurkar (Kadam)	III	64479	ATM Cell, CO
5	Mr. I N Porwal	III	46801	RO Surat, ZO Ahmedabad
6	Mr.Saroj Kr.Chaudhary	III	55037	B/O Malda, ZO Kolkata
7	Mr.V Matheswaran	III	64001	B/O Mysore, ZO Hyderabad
8	Mr.Harmesh Kumar	III	40500	B/O Parliament Street, ZO Delhi