AIBOC Congratulates Its Cadre For Settling at 15% Increase + 2 Saturdays Being Off
We give below the contents of AIBOC circular issued on 23rd February 2015, after signing of broad agreement with IBA. This will give some more insight about the final things that are likely to emerge in next 90 day or so.
Dear Comrades,
HEARTIEST CONGRATULATIONS ! KUDOS TO OUR UNITY !!
LONG AWAITED SALARY REVISION FINALLY SETTLED !!
We convey our heartiest congratulations to all our members on this historic day
for achieving a long awaited settlement for which we struggled unitedly and
determinedly with all our valor. Ultimately after a period of two years and
approximately 4 months and 18 rounds of talks, tenth Bipartite Settlement has
been achieved ! This finally brought an end to long period of unnecessary
anxiety thrusted upon the minds of each one of us Comrades, Kudos to unity and
perseverance of our members ! Our members are aware of the relentless efforts
and innovative ways adopted by our Organisation from time to time to achieve the
long pending justified demands. We explored and did not hesitate to traverse all
possible routes to reach final destination of wage settlement. In today’s talks
also, our Organisation played a major role by taking firm stand on some of the
finer points.
One of the issues apart from the Salary negotiation, very dear to our heart,
particularly to the lady comrades and other young members has been that of 5
days week. It was only with a great endeavor of convincing the Authorities with
lot of facts and figures that IBA partially conceded to our demand and agreed on
second and fourth Saturday of the month to be a holiday while making the other
Saturdays as full day working. Some of the salient features of the settlement
are as under:
1. The
wage
revision
will be
effective
from
01.11.2012.
2. The
annual
wage
increase
in
salary
and
allowances
@ 15%
which
works
out to
Rs. 4725
crores
on
salary
slip
components.
3. The
new
scales
will be
constructed
after
merging
dearness
allowance
corresponding
4440
points
as on
November
2011,
which
works
out to
60.15%
and
adding a
load
factor
of 2% on
Basic
pay plus
Dearness
Allowance
as on
31st
March
2012
amounting
to
around
Rs. 597
crores.
4.
Distribution
of
annual
wage
increase
between
Workmen
Unions
and
Officers’
Associations
will be
worked
separately
based on
breakup
of
establishment
expenses
as on
31.03.2012.
5. Every
second
and
fourth
Saturday
of the
month
will be
a
holiday
and
other
Saturdays
will be
full
working
days.
6. All
others
issues
of the
Managements
and
Unions/Associations
discussed
during
the
process
of
negotiation
will be
settled
to the
mutual
satisfaction.
7. The
parties
will
meet on
mutually
convenient
dates to
draw out
a
detailed
Bipartite
Settlement/Joint
Note on
the
various
issues
on which
consensus
position
have
been
reached.
The
parties
will
endeavour
to
finalise
the
Bipartite
Settlement/Joint
Note
within a
period
of
ninety
days.
Comrades,
though
we may
be
happy,
on one
hand, on
account
of
uncertainties
on major
issues
coming
to an
end, but
on the
other
hand,
many
eyebrows
may be
raised
on the
percentage
increase
agreed
upon. We
wish to
advise
that in
the
present
scenario
of
deteriorating
financial
results
of most
of the
Banks
for the
last
quarter
and
likelihood
of it
still
getting
worse
for the
ensuing
one,
further
delay in
concluding
the
talks
would
not have
been
favourable
for us.
We once
again
convey
our
congratulations
and
thanks
to rank
and file
for the
solidarity,
patience
and
maturity
reflected
during
the
testing
time and
reposing
their
faith on
the
leadership.
We wish
to
assure
our
members
that we
would
take
utmost
care of
the
interest
of our
members
in the
matter
of other
issues
also
which
are
under
discussions
with IBA.
Long
Live Our
Unity !
Long
Live !!
Long
Live !!!
With
comradely
greetings,
Comradely
yours,
(HARVINDER
SINGH)
GENERAL
SECRETARY