NATIONAL STRIKE ON

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1 MONTH SEP VOLUME VI - ISSUE NO. 09 zz NATIONAL STRIKE ON The All India Strike called by the United Forum of Bank Unions on 22 ND AUGUST 2017 was a grand success. The entire banking industry came to a grinding halt. Clearing operations have been suspended for the day. No cash transactions took place. So also forex business not transacted. Employees and officers have demonstrated in large number at metropolitan cities and at various places in the all the States. You are aware that the strike was to protest against plans to privatize public sector banks, merger and consolidation of banks and other demands including not to write off nonperforming assets in banks. Other demands include declaring willful default of bank loans as criminal offence, implementation of the recommendations of the Parliamentary Committee on recovery of NPAs. Bad loans that were written off by State Bank Group in the last years were about Rs.93,041 crore. Bad loans of State Bank of India alone as of stood at Rs.20,339 crore whereas the SBI groups bad loans are to the order of Rs.27,574 crore..

2 Continue newsletter text here. Continue newsletter tex Continue newsletter text here. Continue newsletter tex KEY RATES 100 % DA NEUETRALISATION IN SUPREME MEMEETINGININCREiNCRE CASE O COURT SLPs of retirees against the order of Madras High court judgement restored by the Supreme Court order dated came for hearing on Though AIBRF/United Bank of India Retired Employees Welfare Association, Kolkata was not direct parties in these SLP, considering the fact that they were restored by the court, AIBRF had requested its advocate to appear and seek court permission to intervene in the matter to place record in straight if required. Bank Managements/IBA advocates during the arguments mainly harped on cost factor and pointed out that cost of arrears may be quite large say Rs.4,000 crore. On hearing this, the Court has asked IBA/Retirees to submit cost details within a week for the consideration of the court. The entire proceedings lasted for about 70 minutes and thereafter the judgement on the SLPs were reserved. It may be noted that the bank management/iba advocates hardly touched any point on the provisions of the settlement etc. because of the DA benefit was denied to the pre 2002 retirees. AIBRF in coordination with UIBRWA have made all efforts to place all legal points/facts effectively before the court to protect the interest of the retirees. CURRENT MONTH BANK RATE 6.25 CRR 4.00 SLR REPO RATE 6.00 REVERSE REPO RATE 5.75 CONSUMER PRICE INDEX 2001 JULY 285 BASE RATE 9.70 BPLR MAXIMUM TERM DEPOSIT RATE YEAR TO LESS THAN TWO YEAR SAVE FOR THE FUTURE. SAVE FOR THE NATION. SAVE WITH CENTRAL BANK CENTRAL BANK RETIREES ASSOCIATION TAMIL NADU (AFFILIATED TO AICBRF/TNBRF/AIBRF) 11 SECOND LINE BEACH CHENNAI cbra.tamilnadu@gmail.com PRESIDENT A K NARASIMHULU akn1940@gmail.com GENERAL SECRETARY S RADHAKRISHNAN radhacbi@gmail.com TREASURER N VISWANATHAN viswa_certain@yahoo.com

3 COMRADES RETIREING IN SEP 2017 NAME M/S DESIGNATION BRANCH CHENNAI REGION R Sundararajan Jayalakshmi Ramdass Asst. Manager SWO RO COIMBATORE REGION A Kalaimani SWO NBO Ashok Nagar P Nagaiyan Dafatar Coimbatore MADURAI REGION K P Lakshmi SWO Kilapavoor OBITUARY We are indeed happy that we have nothing to report for this month under this column We wish all the retiring Comrades a long, healthy, wealthy and contended retired life. RETIREES UNITY ZINDABAD CBRA ZINDABAD TNBRF ZINDABAD AICBRF ZINDABAD AIBRF ZINDABAD RETIREES UNITY ZINDABAD CBRA ZINDABAD TNBRF ZINDABAD AICBRF ZINDABAD AIBRF ZINDABAD

4 XI BIPARTITE SETTLMENT PROGRESS SO FAR: Another round of discussion was held on between IBA and Workmen Unions. IBA representative explained the issue of the management like introduction of concept of Cost to Company package, need for Fixed-cum-Variable Pay and performance related wages. They have suggested that the new system can be made applicable for the future employees with an option given to the existing employees. Unions have raised their apprehension and demanded that they should discuss about further improvement in efficiency of the entire workforce as a whole and how to incentivize them for the same. IBA representatives explained their suggestions for further rationalization of special pay posts. Unions said that any concrete proposal in this record can be discussed and they have demanded that the existing duties and powers need to be revised with suitable increase in the quantum of special pay. IBA argued since the minimum qualification for clerical staff is Graduate, the additional two increments given for graduation should be stopped. Unions said that there was a need to revise the minimum qualification to 12 th Std and they did not accept this proposal. IBA wanted that the provision of deployment transfer under VIII BPS be superseded to enable implementation of Para 536 of Sastry Award. Unions pointed out that 8 th BPS provisions were quite adequate for the needs of the banks. IBA wanted to amend the Disciplinary Action provisions to provide for simultaneous criminal proceedings as well as departmental proceedings for which Unions did not agree since the same would go against the interest of the employees. IBA wanted amendment to enable departmental enquiry to be continued post-retirement in view of the provisions in Pension Regulations. Unions pointed out that Pension Regulation was a subordinate legislation and BPS was under a primary legislation and hence Pension Regulations need to be

5 revised in tune with BP settlement as enunciated in SK Kool case by Supreme Court and not vice versa. IBA wanted a provision to provide for premature retirement of employees in public interest any time on completion of 55 years of age or 30 yars of service. Unions did not agree to this proposal. IBA representatives suggested that the ensuing 11 th BPS to contain provision for outsourcing as per RBI guidelines. Unions did not agree to this. Thereafter, Unions took up discussion of their demands like grant of stagnation increment uniformly at interval of 2 years after reaching the maximum, change in DA scheme based on 2001=100 Index series, improvement in Sick Leave, maternity leave to be availed in combination with other leave, Paternity leave to cover child adoption, LFC entitlement, special provision under LFC for North Eastern States, travel by Rajdhani/Shatabdi trains, revision in road mileage charges etc. Meaningful discussions took place on the above issues and it was decided to continue the discussion further. As regards the demands like additional load on wage revision, revised pay scales and allowances, revised DA formula, HRA rates, etc. it was decided to discuss these issues in the full Negotiating Committee meeting since the same are common issues for employees and officers. It has been decided to hold the next round of meeting of the Sub Committee on 6 th September UFBU TO PROTEST AGAINST MERGER MOVE The Govt. has announced the mechanism for the merger of Banks. UFBU has decided to hold demonstrations in all State Capitals, and major towns immediately.