Salary of Banking Persons are set to increase from 15-01-2010

All india banking officer association have revised all india banking officer salary set to increase from april 2010, The full circular is as under

Circular No.10/V/2010
April 3, 2010


To:
ALL UNITS / STATE COMMITTEES

Comrades,

DISTRIBUTION CHART FOR RS. 2239 CRORES ON WAGE REVISION
INITIALED BY FOUR OFFICERS’ ORGANIZATIONS TODAY
ONE MORE STEP TOWARDS SETTLEMENT OF WAGE REVISION
AND PENSION OPTION

Forward movement was achieved today to convert the MOU of 27.11.2009 into full settlement when all the Four unions of officers initialed the IBA’s cost distribution chart.

With this development, it has been agreed to discuss Residual Issues of Officers on 9th and 10th instant and Pension issues with UFBU on 12th April 2010. It is likely that settlement on wage revision and one more option for pension will be finally signed on 15th April 2010 or thereafter depending on the availability of Chairman of IBA and their team.

The initialing was preceded by lot of efforts to improve the starting pay to Rs.15000/-, as offered by IBA on 18.3.2010.

When IBA insisted and got higher starting basic pay for Scale IV to VII it was expected similarly that starting Basic pay will be increased in the beginning so that all officers upto Scale III will also be benefited with officers who shift to higher scale on promotion also get the benefit of the rise throughout. If executives can be allowed higher start beyond scale structure why officers upto Scale III are not given higher starting Basic pay is question that defies logic of all officers upto ScaleIII.

What IBA achieved for Executives we could have achieved for all officers especially upto Scale III had the allocation been done in a fair and equitable way. Thus IBA again fuelled the industry with inferior pay scales for officers upto Scale III despite our efforts. It is a repeat of ;what happened in last wage revision to deny Peter to pay Paul in the name of distribution.

However comrades ! the going for wage revision itself has been tough with lot of bottlenecks and roadblocks. So we did not want to apply brakes since officers are restive and frustrated with delay driving them to lose interest in the unions and their efficacy to deliver. Driven against this mass feeling AIBOA decided to give utmost precedence to the one more option introduced for which lacs of bank men are waiting for months having been denied by their unions during the first option. The fact of one more option agreed by IBA prompted us to initial the distribution, not the distribution pattern done in a negative approach to justify publicity of negotiation details dated 31.03.2010 itself by the majority union.

The distribution chart is not final and is subject to cost of HRA verification, which has been objected to by Unions. The Four Unions objected to HRA costing done by IBA of about 50 crores more and insisted for a third party check. Since Sankaran Committee on Relativity the IBA is working on reported actuals but the HRA cost has taken more money. The initialing has been done subject to the dispute on HRA and if Associations’ arguments are vindicated then the amount will go to improve Basic Pay structure of officers. IBA has agreed to keep the dispute on record to get to the fact of the matter.

This initialing has disproved critics that you could not work out settlement within 17.5% but require 30% etc., In fact even out of this those who wanted “comfort” on pension took away more than 1% to reduce the package to 16.5% as never happened before in distribution of load.

Yet the settlement with one more option and a decent rise on wage revision, even after sacrificing a heavy amount for pension option this important settlement has accrued to Bank officers due to the persevering attitude of officers.

We shall deal with other aspects of rough and smooth of the settlement as also issues that got swayed away as delay took place in the accord.

Other details will follow on full-scale settlements signed with IBA.

With Victory greetings,

/R.J.SRIDHARAN/
GENERAL SECRETARY
HIGH LIGHTS OF WAGE REVISION



Merger Point:
2836 points

Pay Scales
Rs.14500 – Rs.52000

DA
0.15% per slab of 4 points beyond 2836 points

HRA Rates
8.50% of revised BP + PQA

7.50% of revised BP + PQA

6.50% of revised BP + PQA

CCA
Higher Areas - 4% - Max Rs.540/-

Other CCA Areas – 3% - Max. Rs.375/-

Medical Aid
Scale I to III – Rs.5100/-p.a.

Scale IV to VII – Rs.6320/- p.a.

Other Components
Hospitalization – 9.70 crores

Hill & fuel allowance – 0.86 crores

Project Area allowance – 0.29 crores

Split Duty Allowance – 0.22 crores



INDUSTRY LEVEL IMPLICATIONS OF OFFICERS WAGE REVISION


Increase [ Rs. In crores]

Basic Pay + DA
1132.56
8.85%

HRA
139.51
1.09%

CCA
0.69
0.01%

Medical Aid
26.01
0.20%

Addl.2 stagnation increments
34.39
0.27%

FPP
28.66
0.22%

PQA
2.29
0.02%