Merger of PSBs Hold Massive Demonstration Call of UFBU

Merger of PSBs Hold Massive Demonstration Call of UFBU

Circular No: 24/2017

24th August, 2017

To all Affiliates/Office Bearers/CC/GC Members

Dear Comrades,

Move for Merger of PSBs
Hold Massive Demonstration
Call of UFBU

This is further to our Circular No.23/2017 of yesterday. You were informed of the decision of Central Cabinet meeting held yesterday to constitute "alternative mechanism" for giving in principle approval for merger of public sector banks in the name of consolidation.

Through our circular referred above we expressed our strong sense of resentment against the decision of the Central Cabinet as we are of the firm opinion that the decision of the Cabinet is nothing but a ploy to go ahead with the hidden agenda of privatisation of public sector banks.

UFBU, through telephonic consultations among the constituents, has decided to hold demonstrations at all State Capitals and major centres at the earliest, the date for which will be decided by state units of UFBU depending upon local convenience.

We call upon all our units to take immediate initiative for holding meetings/consultations of/with state units/constituents of UFBU and to decide the date for holding the demonstration at State Capitals and all major centres of concerned States.

All our State units have to ensure maximum mobilisation of our members in respective areas.

With greetings,

Comradely yours

sd/-
(PRADIP BISWAS)
GENERAL SECRETARY

Source: www.befi.in

FinMin seeks status report on pay revision talks from public sector banks

FinMin seeks status report on pay revision talks from public sector banks

New Delhi: Keen to close pay negotiations in public sector banks by November 1, 2017, the Finance Ministry has asked the lenders to present status report on salary hike talks with their employee unions.

The chief executives of PSBs have been asked to intimate the ministry about “the present status/action taken by them so as to conclude the negotiations/next wage settlement by the effective date i.e November 1, 2017 positively”.

In January, the PSBs were asked to initiate the process of negotiations with the employees and conclude it prior to the effective date of November 1, 2017.

The communication to PSBs regarding wages comes in the backdrop of banks union threatening to join the strike called by trade unions on September 2 to protest against what they call anti-people policies of the government.

The wage revision of public sector bank employees has been due since November 2012. In the last wage negotiation between PSU banks employee unions and bank management, Indian Banks’ Association (IBA) had settled at 15 per cent hike.

There are 27 public sector banks in the country with a combined employee strength of about eight lakh. There are about 50,000 branches of these banks across the country.

Recently, RBI Governor Raghuram Rajan had said all public sector banks tend to over-pay at the bottom but under-pay their top executives, even as he rued, albeit jokingly, himself being “under-paid”.

PTI