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Date 23/07/2020 17:13  Author admin  Hits 383  Language Global
 Congratulations dear comrades
MoU for 11th BP Settlement signed by UFBU
We convey our congratulations to all our unions and members all over the country. Yesterday the MoU for the 11th Bipartite Settlement has been signed. We congratulate the UFBU for this notable achievement, that too in the present pandemic situation. The MoU has brought out the basis on which the full-fledged Settlement will be signed shortly. The MoU is the outcome of the prolonged negotiations intertwined by agitations and strike actions in the last three years. There
were many doubting thomases and prophets of doom besides various inimical forces who were busy in spreading canards and negative informations but overcoming all these orchestrated attempts, the UFBU has now achieved this 

The Circular issued by the UFBU giving the details of the developments and salient features of the MOU is provided herebelow for the information of our units.  After the Sub-Committee meeting held on 16-3-2020 to discuss and finalise the loading factor after merger of DA for construction of revised payscales, there was  no meeting with the IBA on our wage revision issues in view of the corona related pandemic situation and lockdown restrictions on travel. However, having regard to the developing scenario in general and in the banking industry in particular, we felt it expedient and accordingly pursued the matter with IBA for resuming and continuing the negotiation and to reach an early and amicable solution. IBA agreed and fixed the negotiations at Mumbai yesterday i.e.on 22.7.2020. 
IBA team was led by Shri Rajkiran Rai, G, MD&CEO, Union Bank of India and Chairman of the Negotiating Committee and UFBU was led by the undersigned i.e.Sanjeev Kumar Bandlish, Convenor and General Secretary (NCBE).
From UFBU Com. C H Venkatachalam, General Secretary (AIBEA), Com.Sanjeev Kumar Bandlish, General Secretary(NCBE), Com Subash Sawant, General Secretary(INBEF) participated in the talks in person. Others participated through video conferencing from Chennai, Kolkata, Delhi, Patna and Pune as they could not undertake the travel due to restrictions, quarantine issue, etc. 
Earlier on 21st July night, a virtual meeting of the UFBU was held and viewpoints of all constituent unions were enlisted to adopt a common approach. During the discussions with IBA, Shri Rajkiran Rai explained the constraints faced by the Banks and the challenges that are emerging before the Banks consequent to covid19 which are limiting the capacity of the Banks to incur additional load under establishment expense/wage expenses. Hence he urged upon the UFBU to conclude the issue with their offer of pay slip component 15%.  From our side, while reiterating our viewpoints made in the earlier round of discussions, we pointed out that the additional loading factor after merger of DA at 6352 points should be satisfactorily resolved so that an MoU could be signed. After prolonged discussions by all the unions and after a lot of deliberations, it was mutually agreed that the additional loading factor after merger of D.A. will be 2.5% thus paving the way for signing the MoU. 
Accordingly, the MoU/Minutes of Discussions has been finalized and signed. The main features of the Understandings are as under: 
• The 11th Bipartite Wage revision/Joint Note for Officers will be effective from 01-11- 2017.
• Increase under this Wage Revision will be Rs.7898 crores per year i.e. 15% on the wage bill of PSBs (payslip component cost) as on 31.03.2017.
• New pay scales would be worked by merging DA upto 6352 points of price index with an additional loading of 2.5%.
• After prolonged discussions and deliberations, it has been agreed to introduce Performance Linked Incentive(PLI) in Public Sector Banks, which will be based on
Operating/Net Profit of the individual bank(optional for private & foreign banks). The PLI is payable to all employees annually over and above the normal salary payable. The PLI matrix decides the amount payable to the employees (in number of days of pay=Basic+DA) depending on the annual performance of the Bank. All the employees will get the number of days of pay as incentive depending on where in the matrix the Bank’s performance fits in, broadly as per Matrix under:

(The PLI will be applicable from FY-2020-21)
• From this calendar year each employee below 55 years of age can encash PL upto 5
days per year for any one festival ( 7 days for those above 55 years of age).
• For employees who have joined the Banks under NPS, management’s contribution
would be at 14% of Pay and DA against 10% now.
• Improvement in service conditions discussed and agreed upon so far would be duly
incorporated in the final settlement
• All other pending issues including 5 days banking, updation of pension, etc. are open
and would be further discussed.
• The full-fledged and final settlement with revised payscales and allowances and
incorporating all the agreed issues would be concluded within the next 90 days.
• Thereafter the Settlement will be implemented and revised salaries would be paid
Good news – Improvement in Family Pension: On conclusion and signing
of the MoU, the Chairman of IBA and SBI, Shri Rajnish Kumar came in the
meeting room and participated in the discussions. During his address to all the

participants, he informed that IBA agrees in principle to improve Family Pension
to uniform rate of 30% for all family pensioners without any ceiling and the
existing ceilings of family pension will be removed. Necessary approval of the
Government would be obtained.
Addressing the participants, he expressed his satisfaction on the satisfactory
signing of the MoU which includes wage increase and new schemes like PLI and
encashment of privilege leave, etc. He emphasized the need the ensure a robust
banking system which is responsive to the present-day challenges facing the
country and our economy and hence the importance of improving productivity,
efficiency and responsiveness to the needs of the customers and other
stakeholders of the banks.
He also made a special reference to the service being rendered by bank
employees and officers under the present pandemic circumstances amidst all
difficulties. He also informed that the Government is also appreciative of the
same and informed that all this could have been possible because of the positive
attitude of the Finance Minister for the Bank Employees as well as Officers.
From our side, we expressed our thankfulness to him for his positive interventions
during the course of negotiations which has helped in reaching the MoU. We also
assured him that the entire banking fraternity would surely rise to the occasion,
as hitherto, and it would be our endeavour to improve the services, productivity
and efficiency.
We also brought to the attention of the IBA, the various problems faced by bank
employees and officers in discharging their duties under lockdown and Pandemic
COVID-19 situation and IBA assured to discuss and resolve these issues at their
level at the earliest. To our request to fast track compassionate appointments in
the case of the families of the employees/officers who lost their lives due to
corona infection, IBA assured to look into the same.
Comrades, the signing of the MoU marks the culmination of the long process of
our negotiations during which we had to engage ourselves in agitations including
strike actions. The unity and co-operation amongst our unions and members has
resulted in achieving this satisfactory MoU amidst the present uncertainties and
challenges posed by Covid19 pandemic. We congratulate all of our unions and
members for this achievement in the most difficult circumstances.
We shall now take further steps to work out the final Settlement at the earliest.

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