August 14, 2015

AIBOC-ISSUE OF SECOND AND FOURTH SATURDAYS OFF

Message from AIBOC:

Dear Comrades,

ISSUE OF SECOND AND FOURTH SATURDAYS OFF

A lot of queries are being received by us on implementation of second and fourth Saturdays off in
Banking Industry. We understand the anxiety as the issue which is very important, the most cherished and agreed demand of AIBOC, is being delayed in its implementation.

A few individuals from other organisations who were never serious about the demand or were even
creating hurdles in its achievement, are now shedding crocodiles tears. These paper tigers are
provoking common members by giving false information.

Let us advise you that in-principle approval of Govt. and RBI is already in place on the settlement
signed with IBA and more specifically on second and fourth Saturdays off. We are in continuous touch with DFS & IBA officials and have been following the issue. The delay is on account of some
clarifications being sought by authorities which are replied by officials down the line and IBA. 

As a responsible Organisation we are vigorously following up and pursuing the issue. However, we cannot make any irresponsible statement of starting any agitation etc. at the present stage. One upmanship is not our objective. We are committed to our members and are endeavouring that fruits of our undeterred efforts for achieving this objective is reaped by them positively.

We are sure that IBA, Govt. & RBI can not deviate from implementation of 2nd & 4th Saturday off. We intend to wait for another week or so and shall review the position before taking any stand on the issue including start of agitation with due information to other constituents of UFBU.

August 3, 2015

Master mediclaim policy for bank employees to be issued through IBA by month-end

Master mediclaim policy for bank employees to be issued through IBA by month-end

All state-run general insurers are likely to issue a master mediclaim policy for bank employees through Indian Banks Association (IBA) by this month end. As per the new wage agreement reached between bank unions and the IBA on May 25, employees of all the 43 member banks are to be provided with a health insurance cover by their respective banks.
"Our discussions are on with the IBA on the health insurance cover for bank employees as part of the wage pact," New India Assurance chairman and managing director and chairman of General Insurers (Public Sector) Association ( GIPSA) chairman G Srinivasan told PTI. However, he refused more details saying "things are still on the drawing board."  "This is for the first time a proper health insurance policy is being worked out by banks for their employees,"

July 31, 2015

CIRCULAR ON DEARNESS ALLOWANCE (DA) SLABS PAYABLE FOR THE PERIOD OF AUG'15 TO OCT'15

DEARNESS ALLOWANCE (DA) SLABS PAYABLE FOR THE PERIOD OF AUG'15 TO OCT'15

DEARNESS ALLOWANCE (DA) SLABS PAYABLE FOR THE PERIOD OF AUG'15 TO OCT'15

Today i.e. on 31.07.2015, Government announced Consumer Price Index (CPI) data for the month of June'15. On the basis of CPI data announced by the Govt for the month of April, May & June 2015, as tabled below, the Dearness Allowance (DA) payable for the period of Aug'15 to Oct'15 is an increase of 27 DA Slabs.

In case of DA calculated on revised Pay:-

DA Calculation - For Revised Pay be used the percentage of increase in DA is 2.70% for the month of Aug - Oct 2015 and total revised DA slabs is 364 Slabs and total percentage of DA payable on Revised Pay is 36.40%

In case of DA calculated on Pre revised Pay:- -

DA Calculation - For Pre-revised Pay be used the percentage of increase in DA is 4.05% for the month of Aug - Oct 2015 and total revised DA slabs is 765 Slabs and total percentage of DA payable on pre-revised pay is 114.75%