ALL INDIA BANK STRIKE ON 27TH JUNE, 2022
DEMANDS
1. Introductionof5DayBanking–AllSaturdaysandSundaystobeholidays
2. Updation of Pension and Provision for updation in Pension Regulations
3. Scrap NPS for post-April, 2010 employees/officers and implement old pension scheme for them.
4. Resolve all other pending residual issues
5. Extend wage revision in CSB Bank (Catholic Syrian Bank ) and DBS Bank (e-Lakshmi Vilas Bank).
Why the Strike ?
1. Introduction of 5 Day Banking – All Saturdays and Sundays to be bank holidays :
In view of the changing banking profile and needs of customers, availability of alternate deliver channels, etc. we have been demanding that Banks can function from Monday to Friday ( 5 days in a week) and all Saturdays and Sundays be declared as holidays.
In the 10th Bipartite Settlement signed in 2015, it was agreed by IBA after due approval from RBI and Governmetn that 2nd and 4th Saturdays would be holidays.
It was agreed at that time that introduction of 5 days banking would be considered looking to the experienced gained.
We took up this issue during the 11th Bipartite Settlement/8th Joint Note negotiations and when we signed the Settlement on 11-11-2020, this issue could not be resolved. Hence it was pursued further and became a residual issue.
In the Minutes signed with the workmen unions on 10- 12-2020 and with the officers associations on 4-1-2021, IBA agreed to discussand deliberate the issue further keeping in mind the views of the stake holders including Govt. of India, RBI, etc.
Unfortunately, IBA did not take any initiative to resovle this issue after that. Hence it is still pending and unresolved.
2. Updation of Pension and Provision for updation in Pension Regulations:
Pension Scheme in Banks was agreed upon in 1993 w.e.f. January, 1986 in lieu of Bank’s contribution to Provident Fund. While wage revision has taken place with effect from 1987, 1992, 1997, 2002, 2007, 2012, 2017 for the serving employees and officers under the bipartite settlements, there has been no revision in Pension drawn by the pensioners from 1986.
Hence this has been a very important demand of the UFBU. Even during the last wage revision negotiations, this was an important issue and but could not be resovled. Hence it was included as a residual issue. In the disucsssions on residual issues IBA had stated as under:
Minutes with Workmen Unions dated 10-12-2022:
IBA : It is appreciated that updation of pension and periodical revision in pension is a genuine aspiration of the retired employees. IBA is quite sympathetic to the issue, especially revision in pension for those who have retired under earlier Settlement periods when the emoluments were relatively lesser than at present.
As Unions are aware, IBA has agreed, subject to Government approval, for revision in Family Pension. Banks will have to make additional provisions towards this. Updation also involves additional cost and additional funding. During the negotiations on wage revision, IBA has already indicated that looking to the cost constraints, the issue would be pursued further for amicable solution subject to Government’s approval in this regard. The current details of the Pension Fund in various Banks are being collected and based on these details, actuarial working also needs to be done. These processes would be expedited to take the issue further forward and IBA/Banks would take decisions subject to Government’s approval
Minutes with Officers Associations dated 4-1-2021 :
Thereafter, IBA convened a meeting with the Uniosn on 22-7-2021. In this meeting, the Unions submitted their views and IBA agreed to disucss the issue further.
IBA : IBA is actively evaluating the issue, as demanded by the Associations for which an Actuary is appointed.
But no discussion has taken place thereafter and this important issue remains pending till now.
Whereas the Bank Pension Scheme is a virtual shadow of the Government pension scheme and whereas there is periodical revion in pension along with wage revision as per Pay Commission for Governmetn in-service employees, the periodical revision in pension for bank pensioners is being denied.
Hence the denial of revision in pension is iniquitous,unfair and highly unjustified.
The age group of bank pensioners who have been denied pension revision is in the range from 65 years to 96 years ( those who retired from 1986 to 2017). Hence we demand immediate resolution of this long pending demand.
A specific provision is needed to be added in the Pension Regulations so that after updation of pension of the past retirees, a scheme is available for periodical updation of pension in future on occasions of wage revision for in- service employees.
3. Scrap NPS for post-April, 2010 employees/officers and implement old pension scheme for them.
The Defined Contributory National Pension Scheme has been introduced and implemented for employees and officers who have joined the Banks w.e.f. April, 2010. Thus, those who have joined the Banks in the last more than one decade are governed by this new pension scheme as agaisnt Defined Benefit / Index-linked Pension Scheme
which is applicable to all other employees and officer prior to April, 2010.
Pension is an important social security scheme available to employees in their post-retirement life.
In the context of continued trend of high inflation and unabated price rise, pension which is not linked to inflation and price rise is a huge disadvantage at old age.
As per our expereicne in the last one decade, the return on the DC Pension Scheme is fluctuating according to market condition which is purely speculative, unpredictable and inconsistent.
Hence, there is the genuine and justified demand for restoring the old pension scheme for these post-2010 employees and officers also.
Already some State Governmetns have restored old pension scheme for its employees.
Few more State Governments are also inclined to restore the old pension scheme in their States.
Hence this demand needs to be considered by the IBA. 4. Resolve all other pending residual issues:
Since some of the issues raised by the Unions in the Charter of Demands for the last 11th BP/8th JN wage revision could not be resolved at the time of signing the Settlement in November, 2020, the same were agreed to be pursued further as residual issues.
Accordingly, a meeting was held with the 5 workmen unions on 10-12-2020 and with 4 Officers Associations on 4-1-2021 to disucss these issues. Minutes were also accordingly drawn.
But these issues were not taken up further for discussion and resolution by the IBA. From UFBU we have been repeatedly addressing letters to the IBA in this regard. On 13-4-2022, in the meeting held with the Chairman of IBA, these issues were again reiterated and expeditious resolution. But unfortuantely, no discsussions are taking place and hence the issues remain pending.
5. Extend wage revision in CSB Bank (Catholic Syrian Bank) and DBS Bank (e-Lakshmi Vilas Bank).
In Catholic Syrian Bank (now known as CSB Bank), the Bank has been covered by all the previous Bipartite Settlement and wage revision so far. But during the recent negotiations for the 11th BP Settlement/8th Joint Note, the CSB Bank did not give the mandate to the IBA and hence is not covered by the wage revision settlelemtn.
The Unions in CSB Bank have been pursuing the issue with their managemetn including through number of strike actions but management has remained adamant and thus the employees and officers of CSB Bank are denied of wage revision from 2017 which was extended to all other Banks. This is grossly unfair and unjustifed.
Hence we demand that employees and officers of CSB Bank should also be extended wage revision on the lines of 11th BP Settlement/8th Joint Note.
In the case of Lakshmi Vilas Bank which has now been taken over by DBS Bank, the management of the erstwhile Lakshmi Vilas Bank gave the mandate to the IBA to be covered by the 11th BP Settlement/8th Joint Note. But subsequent to the Bank being taken over by the DBS Bank, this mandate was withdrawn and hence the employees and offices of e- Lakshmi Vilas Bank/DBS Bank are also denied for due wage revision from 2017.
While wage revision has been extended in all public sector banks, private sector banks, foreign Banks, Regional Rural Banks, RBI, etc, the employees and officers of CSB Bank and e-LVB are unjustifiably denied of wage revision. They should also be given wage revision.