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26 August IBA and union meeting circular
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*Great news for all bankers in India!*
_We have received confirmation from authentic sources that the Department of Financial Services (MoF) has approved the implementation of 5-day banking. This initiative is expected to roll out within a few weeks._
_We anticipate that the government's pro-banker measures will greatly benefit the nation. Formal communication on this matter will follow soon._
Comradely Yours,
Ratneshwar Chaudhary
General Secretary -
AIPSBOF (Punjab and Sind Bank officers Federation)
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PLI revised As informed to you meeting was held today in the IBA office regarding 2 issues. Shri Rajneesh Karnataka Sir MD & CEO BOI
Shri B K Mishra Sir DMD SBI
Shri SL Jain Sir MD & CEO Indian Bank.
Shri Nidhu Saxena Sir MD & CEO BOM
Shri Gopal Bhagat Sir IBA
Shri Brajeshwari Sharma Sir IBA were present for the meeting.
*Finalisation of the PLI Matrix* :-
Broad 8 parameters were finalised. CASA,NPA,SMA,Non interest income, Total business, profitability,ROA/ROE, and Government schemes.out of which 4-5 parameters can be finalized by individual Bank at its own level in their respective Board meeting.
Secondly a new bracket of 11 ranges from 5% to 15% were finalised (if your banks profit in fixed parameters is 8% you will get 8 days PLI if it's 14% it would be 14 days and so on ) which was not the case earlier as it was 5% 10% and 15% .Now this scheme will be applicable from 2023-24, IBA will inform the 12 Banks accordingly, Banks would approve the same in their Board meeting and then release the amount.
*Medical*scheme* few points were principally agreed.
*1.combined policy* for both employees and retirees to ensure less premium for retirees.
2.choice to be given to Banks if they wish to be a part of this policy or not
3.schemes are the same for all banks.
4 Float RFP after Banks consent
5 critical illness separate quotes for working employees. and the same medical scheme will be discussed in the next meeting in a few days time once mandate from all Banks is received.
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NEXT Meeting of the Negotiating Committee with Unions/Associations on 15.06.2024, 4.00 p.m. to 6.00 p.m.
It has been decided with the consent of the Chairman, Negotiating Committee of IBA Shri Rajneesh Karnatak, MD & CEO, Bank of India to hold the meeting of Negotiating Committee of IBA with the representatives of Constituent Workmen Unions/ Officers’ Associations for discussion of the below agenda items on Saturday, 15th June, 2024 from 4.00 p.m. to 6.00 p.m., followed by High Tea in the Committee Room of IBA, World Trade Centre, Cuffe Parade, Mumbai- 400 005.
a. Performance Linked Incentive Scheme
b. Renewal of the Medical Insurance Scheme
2. We request you to kindly convey suitably to the General Secretaries of Constituent Workmen Unions/ Officers’ Associations of UFBU to make it convenient to attend the meeting by their authorized representative/s and the number of such nominations be maintained as per the past practice.
3. Kindly arrange acknowledgement.
Yours faithfully,
Brajeshwar Sharma
Sr. Advisor-HR&IR
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Jab Jago tab sabera nhi hota ab bhut der hogyi...
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Update from AIPNBOA GS KRISHNA KUMAR SIR
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Yesterday approx 1 lakh tweets.
Morning again do more from 8 am tweets before start meeting.
#5daysbanking
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Dear Comrades,
There are many speculations about 5 days banking and wage settlement. We would try to clarify certain issues.
In view of IBA not giving any clarity or adding any confirmation of including 5 days banking along with Joint Note/ Bipartite, AIBOC called an urgent meeting of General Secretaries of all affiliates to deliberate the issue of whether to sign settlement without noting of 5 days banking which many other unions are ready to sign.
It was unanimously decided that AIBOC shall not sign the settlement without atleast confirming the status of noting 5 days banking in joint note which was covered in the joint note of settlement of 2015.
Comrades, lots of pressure was built on AIBOC to sign settlement wothout confirming its positive status but we remained firm as the officers of our banks are the worst affected with late sitting, working on holidays. After various rounds of discussion within UFBU and with IBA, we have succeeded in getting similar noting/confirmation to be noted in Joint note similar to what was noted in settlement of 2015 where 2nd & 4th Saturday was made holiday.
Comrades, in 2015 settlement, after getting such status noted in Joint note, it was subsequently confirmed by RBI & notification was issued by Govt. There is all reason to believe that after getting similar noting, 5 days banking shall be declared by Govt this time too.
Apart from 5 days banking, we are improving various other aspects of the settlement.
In view of the above, today again AIBOC discussed the issue with all affiliates and it is agreed to sign the joint note on 8th March 2024.
Comrades, without our firm stand this would not have happened. We thank the rank and file of AIPNBOA & AIBOC for their trust and support to the leadership.
Now, let's all concentrate & focus on Business Growth being the last month of the financial year.
Regards, Dilip Saha
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