Press Trust of India / Mumbai Nov 27, 2009, 21:37 IST
Indian Banks' Association (IBA) today said it has reached a broad agreement with bank unions to provide one more pension option and a salary hike, ending the 2-year-long stand-off between the two.
"We have reached a broad agreement with representatives of bank unions. It has been decided that one more option for pension and a salary hike of 17.5 per cent will be given to the employees," IBA Chief Executive K Ramakrishnan told PTI.
The agreement was reached at a meeting between top IBA officials, including Chairman M V Nair and IBA Chief Executive K Ramakrishnan and representatives of all nine bank employees unions.
A second option for pension will benefit nearly 2.72 lakh serving employees and around 60,000 retired employees, IBA said.
As per the understanding, bank managements will pay 70 per cent towards the difference in actuarial cost while the balance 30 per cent will be borne by the employees.
IBA and bank unions are expected to sign the final agreement in the next few months.
why bank employees will not get tax exemption when they have to refund bank contributionalong with 56% interest. bank union leaders are fraud as they have agreed to payment effective from 28th nov. 2010. not from date of retirement. i b a govt. aiboc aibea befi finance ministry all same coin. not a single left m. p has protested , so retired , existing , future employees are at their mercy. it is an appeal to i b a to pay pension from date of retirement
public sector banks are performing on the mercy of its employees the officers are worst effected .many of them have not availed their entitled leave due to shortage of man power.the management is well aware of the situation and act as blind&deaf every body on the top is interested in their promotion.the union leaders supporting the management for small favers received. bi patiate settlement is an example of the cheating of leaders
The Efforts of UFBU are commendable. 2nd option of Pension to PF optees both in service and Retirees indeed is praiseowrthy achievement. The coming Generations of such beneficiaries will remember this historic achievement. Let us be not selfish and seek benefits for ownself only 2nd option of pension with 17.5% increase is a good achievement
Posted by: murali
December 09 , 2009, 13:35 IST
why unions are not taking resignee comrades who served for more than 20years in bank for second option.these people also contribute lot to the banking. so they have to represent iba and get correct decision.
M.O.U.BETWEEN IBA AND BANK UNIONS IS A CHEATING WITH BANK EMPLOYEES.NOW A DAYS ALL PRIVATE ,PUBLIC AND GOVT.EMPLOYEES GET A HANSOME SALARY.THERE IS A ACUTE SHORTAGE OF EMPLOYEES IN PUBLIC SECTOR BANKS.IF GOVT.WANT TO STOP FRAUDS IN BANKS AND WANT TO RECRUIT THE MEN POWER ,THERE SHOULD BE A MINIMUM STARTING SALARY OF A CLERK BETWEEN 20000-25000 AND OFFICER BETWEEN 35000-40000.WE WANT NO TRADE UNION IN THE BANKS.
Posted by: Purushottama
December 04 , 2009, 17:07 IST
Dear mld ,
Did you fail to notice the frustration and anger in the stand taken by Anupam Goel. Dont you feel that the UFBU has become Unitedly Failed Bank Unions. At least they should not ask levy for this great achievement.
Posted by: mld
November 30 , 2009, 15:50 IST
IF THERE IS NO TRADE UNION IN THE BANKS YOU WOULD NOT GET ANYTHING THIS SHOULD BE REMEMBERED, I THINK YOU ARE NEW IN THE BANK, IF THERE IS NO TRADE UNION NOBODY WILL LISTEN TO YOU AS NOT LISTENING FROM 1ST NOV,2007
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