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Circular No.7/VII/2017

June 5, 2017

Camp: Mumbai









As you aware that the owners are anxious to settle the wage revision which is due from 1.11.2017, and to achieve this goal there were communications to the Bank managements time and again. Prior to Nationwide strike exclusively by Bankmen on 28th Feb, 2017, officers’ organisations had submitted the broad summary on 20/02/2017 to IBA.  Following the submission, at Chennai, on 19th April, 2017, a meeting was held, in which, Com.Alok Khare, Com. M.A.Srinivasan, Com. V.Ramabhadran , Com.G.Gunasekaran and the undersigned participated in the exercise. It was the past practice to submit the Charter of demands of officers and workmen together, but, on 2nd May, 2017, it was not possible.


In the meanwhile, to fine tune the COD, once again, a meeting was held on 1/06/2017 at INBOC office at MUMBAI, in which Com. Alok Khare, Com. V.Viswanathan and the undersigned participated.


IBA has invited the negotiating unions for a discussion today at IBA office to take the wage talks further. Chairman of the IBA Negotiating Team, Shri.R.K.Thakkar, (UCO) Smt. Usha Ananthasubramanian, (Allahabad Bank), Shri.Prashant Kumar (SBI), Shri.V.G.Kannan, CEO  IBA, Shri.Rajkumar Dy.CEO, Shri.K.S.Chauhan Vice President HR & IR, besides the members of HR Dept of IBA. CEO, IBA initiated the proceedings of the meeting and handed over the forum to Chairman, Negotiating Team, for taking the discussion further.


After the exchange of the CODs by Officers and Workmen organisations with IBA and the IBA handing their list of demands, Chairman Negotiating team expressed that the time line mentioned in the earlier meeting should be kept in mind, present health of Industry and also the negotiations for officers shall be restricted upto Scale III.  He further placed the periodicity of meeting will be every month. While supplementing the views of IBA, Smt. Usha Ananthasubramanian, emphasised that there should be a forward movement at the conclusion of the every meeting.


Reacting to the observations made, representatives have expressed that the expectations of the workforce should be fully addressed, de-stressing of the workforce should be carried out, health of the industry is not on account of the wage cost, negotiations cannot be restricted upto Scale III, residual issues of last wage revision exercise  to be resolved viz., Regulated working hours, Discipline and Appeal Regulations, Accountability Policy, 5 days a week, issues of retirees- record note, officer representatives in the Banks’ boards, comparison of wages with Pay commission, unilateral introduction of service condition by a bank,  Number of representatives to be allowed to participate in the negotiation, protection from cyber-crime, and problems encountered by the employees in the Insurance backed hospitalisation scheme etc. The meeting lasted for nearly an hour. The representative of the Officers’ organisations have handed over a letter addressed to Chairman IBA pertaining to the restriction stipulated by IBA.



[1] C2C concept to be brought in; [2] Rationalisation of Special Pay carrying posts. [3] Review of the two graduation increments; [4] Transfer and deployment of workmen staff; [5] Simultaneous conduct of departmental and judicial proceedings for workmen; [6] Conducting the departmental proceedings after retirement of workmen; [7] Premature retirement of workmen;  [8] Outsourcing of any activity within the RBI guidelines; [9] Review of the automatic movement of officers from Scale I to II and also Scale II to III ;  [10] To mark lien on NPS fund of employees to recover loss to the Bank on account of their proved misconduct.


UFBU meet-Post discussion with IBA:

Subsequently, the representatives of nine unions met and discussed the issues confronting the Industry as well as the collective approach on the wage revision.  The meeting lasted for nearly 90 minutes with the decision to meet on a mutually convenient day for a detailed discussion to chalk out the future course of action to “Save the Banking Industryand also “halt the attacks on jobs and job Security”.

Awaiting for the forward movement for a collective, consensus and also achievable plan of action.


Yours Comradely,





Circular No.6/VII/2017

May 5, 2017










The recent steps initiated by the eleven Banks to enter into MOUs with unions to draw the capital support from Govt. of India on certain issues, the important one being the ballooning bad loans of the Banking systems.  The Prompt Corrective Action [PCA] stipulated the conditions by Reserve Bank of India thereby facilitating the much worried step of mergers of the Banks.  The controller of the Banking system, when directed by the highest court of our Nation, preferred to present in a closed cover the defaulters name and also the amount due, with the request not to disclose the names of the defaulters, as their business reputation would be affected.  The series of attacks, let loose by the Government of India, the past and the present against the Pubic Sector Banks are dangerous and much against the interest of the common men of this great Nation.


2.         The Governor of RBI, who preferred to remain conspicuously silent before the Parliamentary committee on the issue of demonetisation, which derailed the performance of the economic activities of the Nation, unleashed the proposal of” Consolidation of Banks” from foreign country, forgetting that PSBs are nation building instruments, which are to be protected, preserved and expanded to extend financial assistance to citizens of this Nation.  One of the second in commands of the so called controller of financial system, instead of suggesting the corrective action for strengthening the recovery system of the Banks, loudly expressed that “de-privatising the Public Sector Banks,” was apt one.


3.         Comrades, the clock is set to be taken back prior to 19th July 1969 by the authorities.  In the recently held meeting of nine unions at Mumbai on 02.05.2017 it was decided to unleash the following programmes of actions against the ill-advised proposals.


1.                       1.    Letter to Finance Minister.              2. Letter to Governor, RBI.  


09.05.2017 & 16.05.2017

Demonstrations all over the country


Postering campaign 


Badge wearing 


If there is no response from the owners of the financial system, the direct action will be inevitable.


All our members to participate wholeheartedly in the programmes of protest actions, as their identities are likely to be lost, if they are allowed to proceed further.


Reject, “Resist”, and “Repulse” is the only way left at our disposal.


Yours comradely,






Circular No.5/VII/2017

May 2, 2017









A meeting of the representatives of the nine unions was held at Overseas Branch SBI, Cuffe Parade, Mumbai to share the concern of the developments in the Industry and also the direct threat of destabilising the Public Sector Bank by the utterances of the responsible persons who are expected to control the financial system in the country independently. A quick review was also undertaken pertaining to the impending exercise to be handled after the meeting.


2.         In the background of the Government of India advising the Banks to commence and conclude the talks on revision of wages for the workforce implementable with effect from 1st November 2017, an introductory meeting to set the tone for the said exercise was initiated by IBA today at Mumbai. The IBA team was led by Shri. Rajeev Rishi, Chairman IBA, (CBI), Ms.Arundhati  Bhattacharya, Chairman SBI, Shri.Arun Tiwari, CMD UBI,  Shri.Ashwani Kumar, CMD Dena Bank, Mr.R.K.Takkar, MD &CEO, UCO, Chairman, Negotiating Committee, Shri.Rakesh Sharma MD & CEO, Canara Bank, Smt.Usha Ananthasubramanian, MD & CEO, PNB, Shri. P.S.Jayakumar MD & CEO, BOB, Shri.Prashant Kumar, DMD & CDO, SBI, Shri.Shyam Srinivasan, MD & CEO, Federal Bank, Shri.V.G.Kannan CEO, IBA,  and Shri. K.S.Chauhan, Senior Vice President HR & IR,  IBA. The nine union’s representatives were present in the meeting. Our organisation was represented by the undersigned.


3.         The chairman IBA, while initiating the dialogue, he recalled the benefits accrued to the workforce in the 9th and 10th Bipartite Viz:  Pension option, 2 Saturdays off, Insurance backed hospitalisation scheme, and also called upon to exercise restraint in the interactions as well as in the coverage in print media etc. He was expressing that the present exercise undertaken, hopefully, to be concluded prior to Deepavali festival. IBA Negotiating team shall discuss the wage revision for officers’ upto Scale III only. The Chairman SBI, who covered in her address the status of the Public Sector Banks, NPAs, challenges to be met urgently as other players entering in the arena of Banking, the sluggish credit growth, stiff competition in the product development and delivery system, need to develop evolution of new method of banking practices etc, ultimately we continue to remain as one team at the conclusion of this exercise.


4.         In response to the opening remarks of IBA officials, the representatives of the unions made it clear that while we are ready to cooperate to complete the exercise in a time bound manner, the restriction  to negotiate up-to Scale III needs to be reconsidered, as the past joint notes covered all  the seven scales, need to retain the young workforce by offering comparable wage increase with other sectors, steps to initiate to conclude the pending items of the previous COD, considering the remaining 2 Saturdays in a month as holidays and not to link the present health of the Industry with the wage talks.


5.         After the meeting with IBA team, nine unions representatives, met again, to draw the plan of action of protest against the authorities of RBI. The programmes are being worked out to echo the collective voice of dissent to the owner of the financial system, seeking an answer on the issue of de-privatising the Public Sector Banks and also on consolidation of the Banks. Depending upon the response from the authorities further steps will be initiated including direct action exclusively on this issue by the nine unions, it was decided.


A beginning has been made, an unprecedented one in our Industry.


Yours comradely,