AIBOBOA

With regard to the above we wish to inform that a meeting between IBA and UFBU was held today from 1.30 pm onwards in the office IBA, Mumbai. Prior to the meeting with IBA, a meeting of UFBU was held at 10.30 am in Mumbai.

In the meeting, the Convener Mr. C. H. Venkatachalam reported to UFBU constituents that there is no forward movement on the three issues viz. Effective date for Pension, Costing of Pension and Pension balancing (which means that a part of 17.5% increase in wages would go to SBI) inspite of various efforts put in by UFBU. The meeting also noted the growing impatience amongst the Bank employees to reach a settlement and the wild rumours in circulation.

In the above background, UFBU met IBA at 1.30 pm to reach a settlement on Pension and Wage Revision. In the detailed discussions that took place on Pension, quite unfortunately, certain problems cropped up on the number of employees who may not opt for pension considering their age, health and other circumstances. UFBU desired that the number under this category may be taken on assumption basis, say 10% and work out the Pension costing thereof. However IBA insisted that they are not for any assumption but for arriving at actual number.

As all are aware, counting the actual number of non-optees would be a time consuming process. Further, to exercise the option, one quite obviously needs to be advised of the terms and conditions of the Pension Scheme, time schedule etc. This will result in further delay, UFBU stated. However IBA insisted on the actual counting. As there was no progress to reach a decision on this issue, it was decided to adjourn the meeting to 3rd April 2010.

On Wage Revision, IBA submitted to the four officers’ organizations revised proposals on pay structure Rs.14500-52000, stagnation increments, various allowance etc. In the preliminary discussions that followed in the meeting of four officers’ organizations, INBOC reiterated its earlier demand that starting basic must be minimum Rs.15,000/- to rectify the injustice caused to junior officers during the last revision and other amendments. The four officers’ organizations shall meet again, reach a consensus on the IBA proposal and take it further in the meeting with IBA on 3rd April 2010. We shall advise the outcome after the meeting.

With greetings,
Yours sincerely,

(K.K.NAIR)
GENERAL SECRETARYAIBOBOAsource aiboboa.org