Whether Working Hours Increased because of Saturday Holiday

Clarifications;
Whether working hours increased because of Saturday holiday?
No. How?
Working hours are 6.5 hours for full day& 4 hours for Saturday.
In a month you save 4x2=8 hours for holiday.
U work extra 2.5x2=5 hours for fully work.
Ur working hours is reduced in year
=(8-5)x12=36 hours.
In a year if 5th Saturday comes 4 times u work extra=2.5x4=10 hours.
Even then ur working hours are reduced by=36-10=26 hours in a year.
Hence it is a clever move by unions so that employees get clubbed holidays twice in a month, no increase in working hours and also avoided public/traders/customer opposition for 5days banking.
How is it?
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When it will be implemented ?
After signing of full settlement IBA will send communication to RBI.
RBI in turn will issue notification.
Then only it will be implemented.
It will take another 3 to 4 months.
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What will be my new salary?
Distribution/loading of amount to various heads like PQP,FPP,HRA,CONVEY.MEDICAL AID are yet to be announced.
Hence trying to calculate at this stage is a futile exercise.
So many calculations,tables,figures are posted by various comrades.
It shows their curiosity only.
Just ignore all these charts.
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Still topics like medical reimbursement/Med claim policy,lfc,leave,issues of pensioners are to be finalised.
Above all management issues/demand like transfer policy,early retirement,vigilance,action after retirement,variable pay/incentive etc. are to be finalised.
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What about the settlement?
90% of comrades commented that it will be only 13.5% and is already match fixed.
Now it comes with 15% and 2 clubbed holidays in a month.
Thanks to all unions who pressured to change the figure 13.5.
It is not so good settlement to celebrate,
at the same time it is not so bad settlement to curse. O.K.

What we Aceived Till

IBA itself has stated through its Press Release dated 02-12-2014 that 11% increase in pay slip components is equal to 12.5% increase in total establishment costs which include superannuation benefits.

So, the present 15% hike achieved in pay slip components is equal to 17.045% hike in total establishment costs. Thus, the present hike is less than what was achieved in 9th BPS.

What wil be done Next

Tenth Bipartite

What will be done next ?

The next crucial task is decision about new DA slab rate. By now, you know that 60.15% DA will be merged with basic pay and then additional 2% on basic pay and DA as on March 2012 will be given.

Now, what...?

The DA Saga

There are assumptions going on that new DA slab rate will be reduced to 0.12 from 0.15 at present. However, as per calculation it may get reduced to 0.10; and 0.12 is just we can hope of. So new DA at 0.10 slab rate will be 33.3% whereas on 0.12 will be 39.96%.

But hold on. This is the case when DA system from tenth bipartite will be on old system.

Officers associations have something interesting in their demand list.

1. Instead of quarterly payment, there should be monthly payment of DA.

2. DA neutralisation should be 125%.

3. There should be mid review of the scales by merging Dearness Allowance payable at the end of 2 ½ years. To be specific the revision date is 01.11.2012 – up to 2 ½ years i.e., on 30th April 2015 the Dearness Allowance payable to be merged and paid as revised pay. The Principles adopted by the Pay Commission for the purpose of merger of DA and other allowances should be followed in case of Bank Employees.

Award associations have following demands :

1. D.A. to be paid based on CPI (2001=100) Index Series instead of CPI (1960=100) Series.

2. D.A. to be revised on monthly variation in Index.

3. D.A. to be revised on rise and fall of every point in the Index.

4. D.A. compensation to be 110% for Clerical Staff and 120% for Subordinate Staff. 2

We know that what we demanded and what we got. Let us hope that unions hold their ground more on rest of the talks.

So, let us see.

Revised Salary Chart @ 15%

Discussion held on 23.02.2015