Wage Hike 12.5% > ? > 19.5%

Merger of PSUs into 7 Banks

Total Offer in Hike as on 24.01.2015

To understand offer of improvement by IBA- Some of our friends are asking about hike , this is the offer of IBA I.e. 11% to 12.5%.
Last time it was 10.3% +7.2% I.e. pay slip increase+cost of superannuation benefits.Total 17.5%
Now the offer is 12.5% +12% Total 24.5%

Settlement Update 24.01.2015

Dear friends.. latest update about our settlements:
1) 12.5% offer (still negotiating with IBA for further improvement) by the IBA as on date is equivalent to Rs.3940 crores is only on payslip components (9th settlement 17.5% offer was inclusive of payslip components + all other expenditures - total of 3000 crores)
2) only for medical expenses in this settlement agreed by IBA is around 500 crores..
3) medical expenses for self & family 100% reimbursement by banks without any ceiling (previously it was 100% for self & 75% for families with ceiling)
4) petrol allowance for clerks also
5) improvement in leave conditions for award staffs
6) 60% increament in basic pay
7) 400 points (in 10th settlement alone) of DA merging with basic pay (7th + 8th + 9th settlement total da merger of points was 425 points..)
8) these things were achieved without compromising existing conditions

PROGRESS IN THE CURRENT NEGOTIATION

To-day's (24.01.2015) meeting in TNBEF was attended by a large number of comrades. Com Chv explained the progress in the current negotiations. I give below the details for your informations:

1 Hospitalization reimbursement is 100% for both self & Dependant.

2 There is no limit/cap for the tests etc.

3 Normal delivery charges is reimbursable up to Rs 35000/-

4 Cesarean delivery charges reimbursable up to Rs 50000/-

5 No limit for package treatment.

6 Hospitalization reimbursement even after retirement on payment of very nominal premium.

7 Paternity leave for 15 days twice in the service ( beneficial for young employees)

8 Un availed CL 4 days can be taken without MC.

9 PL leave apply period reduced from 30 days to 15 days.

10 Combined CL restriction of 6 days at a stretch is removed.

11 Rs 1 lac Ex gratia is permitted for meeting preliminary expenses in cases of serious ailments.

12 Full period of absence to those donate kidney is treated as leave with full pay.

13 Child adoption leave to be granted for 6 months out of maternity leave.

14 Leave for surrogacy child birth is permitted up to 6 months.

15 leave for hysterectomy increased from 45 days to 60 days.

16 Accumulation of PL to be increased to 300 days ( after referring)

17 Sabbatical leave to be extended to male employees

18 Study leave to be introduced

19 Leave Bank to be introduced wherein employees can donate leave(including Sick leave) to the needy employees

20 Extraordinary leave is increased

Other issues like Special Pay/Conveyance/Petrol/LFC etc will be finalised on 30th meeting. Increase in percentage load will be decided on 03 Feb 2015 meeting. AIBEA feels in case five day week is introduced, every day there will an one hour increase in working hours which will affect our (award staff) employees especially women employees, which further delays their reaching home in the evening hours.