CBOO CIRCULARS

Circular 1/2010   

CANARA BANK OFFICERS’ ORGANISATION (REGD)   
(affiliated to NOBO & BMS)    114/6, III  Floor, Subedar Chatram Road, Opp.Hotel Hoysala, Seshadripuram, Bangalore – 560 020  Ph(O):080-23460988, President ( R): 080-26787958  Gen Secy (R):080-26484254  Email: cboobangalore@yahoo.co.in

 Circular 1/2010                                                                             Date: 19-01-2010 

Dawn of New Year – Big challenges ahead
 Dear colleagues,

We have already stepped into the New Year (2010) in the backdrop of successful conclusion of 14th Triennial conference of our beloved Organisation held at cultural city of Mysore on 25th and 26th December 2009.

New year has brought in its fold a mixed bag of events which have the potential of affecting the lives of every common man.  Hope – in terms of improved performance reflecting the “face” of India in the global context of world economy. Concern – galloping rate of inflation propelled by increase in price of food and other essential commodities including vegetables etc.   Yet, the nation marches forward on the belief that better days will emerge in the midst of miseries confronting the country and the world at large. 

All of us are aware that wage negotiation talks with IBA has now reached a most decisive phase and the next round of meeting slated on 23rd January 2010 is expected to ‘cement’ the final decision in the best interests of every bank employee.  Our national leaders (NOBO) who are actually involved in the wage negotiation talks have been appraising us almost instantaneously and those who were fortunate to attend our conference in Mysore heard them in person about the journey traveled  in last two years both within UFBU and with IBA as constituents of UFBU.  We reiterate that one more pension  option which is dream for larger section of bankmen is going to be a reality and we may as well call it historic achievement and we place on record  our appreciation of the relentless battle fought by our veteran General Secretary of NOBO, Sri Bapu Joshi for almost a decade for banks agreeing to extend one more option for pension scheme.  Rest of other core issues viz. wage increase, compassionate appointment issues will also find amicable resolutions during the next round of talks.

Whenever the issue of merger of banks comes up in media – both electronic and print – our Bank’s name appears   prominently and we believe it may not be without any substance.  As news gather more and more momentum, we understand that Government is taking a cautious step in the light of conflicting stand taken by RBI which seems to have voiced that the present time calls for more ‘inclusive approach’, Banks as a vehicle to reach more people than consolidation.  It is heartening to note that we stand out as one of the strong banks having   global reach both in ‘character’ and branding.  But we are deeply concerned to note that the environment in which bank officers are working in the bank is not at all conducive and everyone particularly is feeling the ‘heat’ of accountability.  Unfortunately, the management is yet to evolve policies which harness people’s strength for effective contribution.  Instead, as everyone knows, all of us are in the ‘fear psychosis’ mindset and we sincerely believe that this environment is not all conducive for bank’s overall growth at a time when the bank is poised to assume greater role in national reconstruction as a vibrant and strong bank in the comity of global banking industry.  In this context, our prime office bearers, lead by our President, Mr A.N. Madhusudhan, met our Executive Director Sri K L Jagadeesh Pai  and Sri  A.K.Nahar, General Manager, Personnel Wing, HO last week and had an extensive interactions with both the executives and in the light of the discussion, we are now in the process of presenting a Memorandum incorporating our views and suggestions for creating the working environment for better performance by one and all.

As known to all, our Mysore Conference was historic in every sense, both in terms of participation by members, but also the quality of deliberations held.  The meet began on a very positive note with key note address by Sri S.Suresh Kumar, honourable minister for Urban Development, Law and Parliamentary Affairs, Government of Karnataka, who had great words about the role played by public sector banks in facing the world economic recession with grit and strong regulatory mechanism.  The session on organizational development saw members coming out with constructive suggestions to take organization, work more, lateral and involvement at grass root level.  The conference adopted several resolutions, which have great bearings on the functioning of bank and our organization.  We will be coming out with the details in our next communication.  The valedictory session was indeed most memorable with veteran Kannada writer, Sri S L Bhyrappa, touching the core issues in the functioning of banks, viz.’money’ and its relevance to ‘values’ as explained in our traditional ‘value system’.  The address was quite apt and impressive in as much as we as BMS organization with identical views as our guiding principles and   of trade union movement.

We greet one and all for happy new year and Makara Sankranthi and let us resolve that this transition will usher in peace, prosperity and good health to all.
  
Fraternally yours,
B.K.IRWATHRAYA
GENERAL SECRETARY 

CBOO ZINDABAD
NOBO ZINDZBZD
BMS ZINDABAD
VANDE MATARAM
BHARAT MATA KI JAI
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Circular No. 2/2010

CANARA BANK OFFICERS’ ORGANISATION
      (Affiliated to NOBO & BMS)
                     No.114/6, III floor, Subedar Chatram Road,
                 Opp: Hotel Hoysala, Seshadripuram, BANGALORE – 560 020
                        Ph: 080- 23460988.

   Circular No. 2/2010                                                                          Date:04-03-2010

Friends,

OUR 14TH ALL INDIA CONFERENCE AT MYSORE  ON 25TH  & 26TH  DEC 2009

Our 14th All India conference at Mysore was conducted under the able guidance of Sri GO Madhusudan (Ex MLC) who was the Chairman of our reception committee with the assistance of Sri M.Prabhakar our Regional secretary, as the convener of Reception committee , and also with the active support of local activists of CBWO.

The inaugural function was held on 25th Dec 09 evening with the invocation as per our tradition and welcome speech by Sri GO Madhusudan, Chairman , Reception Committee.

The function was inaugurated by Honourable Minister, Governmrnt of Karnataka Sri Suresh Kumar by lighting the lamp. Sri Suresh Kumar in his inaugural address,  enthralled the full packed audience with his electrifying speech stressing  the role and responsibilities of Bank Employees and expressed his confidence in the ability of the members of the BMS family in the constructive nation building activity.

Sri D.K.Sadashiva, Vice President, BMS addressed the delegates with his usual inimitable style emphasising the need for hard work by the Karykartas for the growth of the Organisation.. The dignitaries on the dais included Sri KNL Rao, Veteran Trade union leader Sri Bapu Joshi, General Secretary of NOBO and Sri Mohan Kumtakar, General Secretary of CBWO.

The inaugural session was compered by Sri A.N.Madhusudan, Senior Manager, Arakere Gate, Bangalore branch.

The concluding session on 26th December 2009 was dominated by renowned novelist Dr S.L.Bhyrappa. In his valedictory address, Sri Bhyrappa  gave a treatise on the concept of ‘Artha’. Though the ‘Artha’ is also called Money,  its meaning is more inclusive in our country than any other country in the whole world. He recollected the ethics preached & practiced by our forefathers with regard to gaining wealth with out deviating from  Dharma..  The entire edifice of the western thinking of Economy was rediculed with extraordinary analytical thesis.  Sri Bhyrappa was happy to inform the audience that, he has been banking with Canara Bank for the past  50 years as a satisfied customer. He lauded the best customer service he derived from Canara bank. He called upon the Bank Officers to work for the social change.  Other dignitaries present on the dais included Sri P.T.Rao, Incharge of Financial sector of BMS, Sri Sharad Joshi, President NOBO, and Sri Ashawani Rana, General Secretary, NOBW

The progamme was compered by Sri A.Shivaram, Senior Manager, C.O.Bangalore Rural.

Conference Curtain was down with the singing of  VANDE MATARM by Sri Mohan Kumtakar.

DELEGATE SESSION:
 ON 25th December at 10.00 AM, the delegate session of the conference  was declared inaugurated by Sri GO Madhusudan (Ex MLC) who was the Reception committee Chairman, by lighting the lamps. His address to the delegates was highly motivating & thought provoking.

The Conference wore a festive look with large scale participation of the delegates with every one sharing the responsibility of event management.

Sri V.G.Desai, president CBOO Could not be present on the occasion due to unavoidable reasons. In his absence, Sri M.S.Ganeshmurthy, Vice President CBOO presided over the session and in his introductory remarks, he welcomed all the delegates and requested them to participate in all the programmes and give useful suggestions for the healthy growth of the Organisation. Sri B.K.Irwathraya – General secretary presented the General Secretary’s report, which was adopted by the house. Income and expenditure accounts and Balance sheets for the years 2006, 2007 and 2008 were presented before the house by Treasurer Sri L.V.Shivaswamy. The house unanimously adopted the same.

The delegate session continued on 26-12-2009. Reporting by Regional secretaries of each circle was followed by adoption of various resolutions by the house, which are reproduced in the annexure to this circular. The General Body has adopted a resolution to increase the monthly membership subscription from Rs 50/- to Rs 80/- from Feb 2010 onwards. Sri H.L.Meena, the Organising Secretary initiated the discussion on Organisational matters during the session.

Sri Bapu Joshi, General secretary NOBO, Sri Sharad Joshi, President NOBO & Sri P.T.Rao, Incharge of Financial sector BMS addressed the delegates.

Entire delegate session was compeered and conducted by Sri R.R.Kulkarni, Senior Manager, Bibwevadi Pune branch.

At the end of delegate session, the new office bearers and executive committee members were elected. Sri M.S.Bhagawath, General Secretary, Syndicate Bank Officers’ Organisation who was appointed as Election Officer, conducted the election smoothly. The new office bearers and committee members, were unanimously elected and the list of the new committee is enclosed herewith.
 WAGE NEGOTIATIONS – THE GAME OF HIDE & SEEK !
 ‘History repeats itself’. Never in the history, the wage revisions were achieved in the banking industry without undue delay tactics of IBA forcing the bank employees to go for frequent strikes & agitations causing monetary loss to the employees as well as inconvenience to the general public. Present wage Negotiations between UFBU & IBA is also not an exception. With the expiry of last wage settlement, the new wage settlement should have taken effect from 1-11-2007. Main issues involved in the present wage negotiations are One more pension option, Compassionate appointment & Salary revision. Even after holding a number of rounds of talks on Compassionate appointment, a concrete scheme is not yet evolved. On one occasion, the bank employees were made to undergo the embarrassment & agony because of withdrawal of strike at the eleventh hour basing on the false assurances of IBA. In another occasion, the IBA backtracked from its own MOU with the UFBU, undermining the very sanctity of MOU, whereby  the trustworthiness of IBA itself got eroded. Evenafter the common actuaries furnished the Cost of Pension Deficit, IBA was not prepared for fruitful talks with UFBU.

With the implementation of 6th pay commission recommendations, the central govt employees got a good pay package. Economic conditions were conducive. In most of the Public sector undertakings the Salary Revisions took place with substantial increase. Unmindful of these,  IBA continued to engage the UFBU in the game of hide & seek causing the bank employees to loose a golden opportunity of getting a deserving & befitting wage increase. The right time was over and the Global recession set in. Though the Public Sector Banks in India came out unscathed and recorded good performance, the IBA & Finance Ministry were not inclined to reciprocate & reward the Bank employees. Ultimately after strikes & agitations, the IBA was made to enter in to a MOU with UFBU on 27th Nov 2009, though the bank employees had to satisfy themselves with the unreasonable wage increase assured in the said MOU. The negotiations should have been completed and a joint note of wage settlement should have been finalized with in 90 days from 27th Nov 2009 as per the MOU, but the same has not materialised. Sudden advent of the issue of SBI pension cost sharing came handy to IBA for procrastinating the process. Finally, when the Officers Unions met IBA on 25th Feb 2010 and submitted a revised proposal with the starting basic of Rs 15,000/- to Scale I officers, IBA did not accept the same. They offered the proposal with starting basic of Rs 14200/- which was rejected by unions outright. In a nutshell, the following was the outcome of the said meeting with IBA:
1. IBA informed that they are not willing to change the pattern of pay scale.
2. Officers Unions brought to the notice of IBA that cost calculated by IBA on HRA is much more at higher side & requested them to recalculate it as per existing pattern.
3. IBA also calculated existing cost on pension @ 9.5% instead of 13%. Unions demanded that proposed pension optees cost calculation be made @ 13%.
4. Stagnation increments after reaching the maximum are refused by IBA.
5. Unions demanded the date of effect of pension to be 01.11.2007 or at least 01.04.2008 but IBA was adamant in their stand that the effective date should be the date of settlement.
6. Financial implication of hospitalization expenses of officers is included by IBA in cost for the first time. The cost calculation is ambiguous.

The meeting remained inconclusive and all the FOUR officers unions (AIBOC, INBOC, AIBOA & NOBO) decided to meet IBA chairman shortly for seeking his intervention. Even after meeting him, if the justified issues are not resolved, the Officers unions have proposed to launch agitations including strike.

Friends, as it appears , IBA feels that it is their prerogative to decide on the pay scale and method of calculation of additional cost required for various components of salary and allowances out of 17.5% wage hike. Officers can not accept their proposals as it has to be done through bilateral discussions to avoid heartburn and anomalous situation within officers’ cadre and also in comparison with workmen staff. The intention is to ensure justice to all categories of officers in distribution of wage cost equitably, among all components of salary and allowances. Unions have to take care of the aspirations of large number of the membership who have stagnated at their respective scales and their career progression. Though unions are confident of convincing IBA on the line of the distribution of wage cost, things cannot be taken for granted. Hence, all the members are requested to be in readiness for organizational action, if the situation warrants, so that the game of hide & seek is put to an end.
 NOBO CONFERENCE AT CHENNAI
 Our parent Body , the National Organisation of Bank Officers (NOBO) held its 10th All India Conference at Chennai on 21st Februray 2010. Sri H.Raja, the leading Chartered Accountant and Vice President,TN State BJP,  inaugurated the function. Sri Saji Narayan, leading Advocate and Vice President BMS was the Chief Guest. The conference discussed various important issues concerning the Bank officers and the present scenario in which Public sector Banks are functioning. Election of New Executive committee was smoothly conducted under the guidance of Sri Sajinarayanji with Sri Mohan Kumtakar, Deputy General Secretary, NOBW being the returning officer. Sri M.S.Bhagwat, General Secretary of Syndicate Bank Officers Organisation has been elected as President. Dr S.U.Dehspande of Bank Of Maharashtra Officers Organisation (& Officer Director of BOM) has been elected as General Secretary. The list of CBOO members who are in the new Executive committee of NOBO is furnished in the Annexure for the information of members.

Friends, all are aware that, the Officer employees in our Bank are passing through a phase of sufferings and the recognised Officers Association has been the silent spectator. Under the circumstances, our Organisation has taken initiative and Sri K.Jagdish Pai, E.D. of our Bank was kind enough to give an audience to our representatives. We have submitted a memorandum to our ED highlighting the difficulties & problems faced by the officer employees, requesting for his kind intervention and seeking remedial measures. The copy of the memorandum is furnished in the Annexure to this circular.
 WITH YUGADI GREETINGS
Fraternally yours,
B.K.IRWATHRAYA
GENERAL SECRETARY

 RESOLUTIONS PASSED BY THE GENERAL BODY OF CANARA BANK OFFICERS’ ORGANISATION HELD AT MYSORE ON 25TH & 26TH DEC 2009

1.         OUR BANK – CANBANK – IN NEW CENTURY:

Canara Bank – Our Bank – which began new innings in the post Centenary Period at this stage has reached a transition phase where it is poised to assume a new brand of a global bank in to “nuance” of international character, apart from having a domestic spread of over 3000 branches in the length & breadth of our country. Internally, a Metamorphic change is taking shape with old and seasoned bankers who shaped the destiny of our beloved bank at critical stages, are leaving the bank in the bulk numbers during the next 2 years (on Superannuation/Voluntarily). As stake holders, we, as any one who are part and parcel of this nationalist Public Institution movement, are looking forward to new generation of leadership who display character of assimilating the right “ethos” of our Past in evolving the destiny of our Organisation in tune with the demands of present day banking. The HRD policies, therefore assumes a strong and a critical factor in creating the right environment for people to be willing partners and team members, in the long journey in the new Century.

This General Body of CBOO while reaffirming the deep  commitment in the intrinsic strength of Canbank culture, urges upon the Management to relook the portfolio of Personnel wing to give a dynamic and proactive policies for achieving the corporate objective.

2. ACCOUNTABILITY:

At a time when the financial sector reforms are pervading every sphere of banking with sweeping changes, it has become a tough proposition for the bank officers to work in branch environment and live up to expectations of the growing clientele.  In the present day setup it is not uncommon that many unsavory developments bordering on negligence and other related instances are on rise.  The Management instead of dealing with all such cases with “empathy” is unleashing reins of wrath using accountability as an effective tool.  It is a sad state of affairs that the spate of charge sheets, enquiries and resultant punishments has increased by leaps and bounds.  The morale of the officers has touched rock bottom as a result of these unfriendly attitude of the Management.

It is not uncommon that many officers at all levels are planning to put in their ‘papers’ and retire as a result of the unfriendly work environment. Management should initiate confidence building exercise enabling the officers to work in a competitive world devoid of “insecure feelings”.

It may not be out of context to gauge the undercurrent working in the psyche of good number of officers (at all levels), to strongly consider quitting the bank voluntarily finding it difficult to cope up with work pressures under unfriendly environment – propelled by the news of getting one more Pension option granted under MOU signed with IBA recently (only to be operationalised with in 90 days).

At a time when there is a huge surge of customers in the age group of 25 to 40 looking up to Public sector banks in preference to Private sector banks – which is practically visible across the nation, it is our considered opinion and also a statement to call upon the Management to redefine the Mantra of “accountability” and evolve a platform for reversing the sense of “alienation” and desperation creeping the fatigued mind of officers only to reassure that innocent and  those who have been discharging their role/ responsibilities with bonafide intentions are not unduly harassed in the garb of accountability. As a first step we call upon the Management to institute a Mechanism whereby those who are sent on investigation mission/exercise to branches do possess necessary awareness/work experience in branches to conduct their independent assessment as we came across  piles of reports (which are the basis for all actions under staff accountability) which seem to suggest that everyone has to function in ideal situation which doesn’t exist anywhere in any profession, let alone banking.

This General Body of CBOO urges upon the bank Management to usher in an era of mutual trust and confidence in the ability of the officers to face the stiff competition and work for producing tangible results in terms of increased profitability/better asset Management.

3. PROMOTION POLICY:

As reform process in the banking industry is touching various layers of functioning, a new scenario is emerging consequent upon retirement of senior bankers that, top level position in the bank is shouldered by people in the age group of 48-53.  Going by this trend banks are encouraging the young and dynamic people to move up in the ladder.  The Government policy stipulating written test for promotion from Scale I to Scale IV might have given new stimulus to emerging process. 

With so much of talk of merger of Banks and other reform process taking centre stage, it is going to be big challenge for the Bank to evolve appropriate promotion policy which encompass fair treatment to both the segments, i.e. seniors and merit candidates.  We feel that the two tier system needs to be continued and whatever hurdles if any from the government policy measures need to be suitably addressed and no uniform policies be imposed on all sections alike.

This General Body of CBOO therefore calls upon the Management to create appropriate forum for all sections of officer’s fraternity to be involved in the process of finalizing a pragmatic promotion policy. 

4. TRANSFER POLICY:

Transfer Policy now in vogue has outlived its relevance at this point of time when there are over 33 circles and many far reaching tier system of management is taking shape. Intercircle transfer is assuming a big stumbling block in transferring officers from one circle to another and also when the option  to return to home state props up.  Many officers, though transferred even within states are finding it difficult to report at the transferee branch because of the concept of 1-to-1 replacement which is becoming more & more messy and irritant to concerned officers. Apart from this, the delay in promotion process also contributes to the untimely transfers. Many senior officer employees have been transferred irrationally on the guise of Non performance. All over these years the very officers have been the backbone of the Bank and have been the part & parcel of its growth. Overnight, the same officer employees are found to be non-performers in the eyes of present day administration. In the absence of any rational parameters for non-performance, such transfers on the guise of ‘Non performance’ is not at all logical, and should be done away with.  We strongly feel that as a proactive management, it is expected that our Bank makes a thorough review of the existing transfer policy and fine tune with present realities for better understanding by all concerned and for easy implementation amongst all circles.

This General Body of CBOO calls upon the Bank Management to evolve pragmatic transfer policy, acceptable to the entire officers’ community which gives enough leverage for flexibility keeping the demands of the changed situations and the availability of evenly spread officers’ strength.  In this process, this General Body expects the Bank to scrap the mid-academic year transfer and abolish the concept of active service for consideration of re-transfer to home Circle.

5. CONSULTATIVE FORUM FOR MINORITY UNIONS IN THE BANK:

It is a well established practice of any proactive Management that they take opinions and suggestions from different sections of employee organizations in formulating policies of the institution.  Although we have been consistently raising the issues for the creation of appropriate consultative mechanism, no formal forum has been established in the bank.  In this regard, two important developments have taken place to promote the cause.  Firstly, three offices organizations namely our Organisation (CBOO), Canara Bank Officers Union (CBOU) and Canara Bank Officers Congress (CBOC) have come together under a common umbrella named “United Form of Bank Unions in Canara Bank” (UFBUCB) on the lines of United Forum of Bank Unions (UFBU), in the apex level.  It has been resolved that this forum is going to work with common charter and issues concerning all Canbank men and women.  Secondly, the Supreme Court in one of its judgments has ruled that bank managements are bound to listen to the views and opinions of minority organizations.  In the light of these positive developments, we call upon the Management to institute appropriate dialogue mechanism to address to the issues to be taken up by this united body.

This General Body of CBOO urges upon Management to setup the formal mechanism of dialogue process without any further loss of time in recognition of the spirit of collective bargaining and fair Management practice.

6. HOSPITALISATION:

In the present day complex work environment, most of the officers who are in their late 50s are going through tough life and subjected to severe health related problems. Although there is a system in place to grant 100% reimbursement under hospitalisation for self & 75% for spouse & children, the medical treatment available in the country has been increasingly costly and has become a cause of concern for officers. Therefore, the best HRD practices the Bank can possibly roll out in this demanding scenario is to workout a tie-up arrangement with leading multi-specialty hospitals in towns/cities for all employees. It may be worth to note that India has become medical destination on Global platforms and these hospitals will be too willing to come up with competitive package.

This General Body of CBOO calls upon the Management to initiate appropriate measures which not only provides relief of great magnitude will also serve as a strong motivation factor for employee participation in bank’s overall growth.

7. QUARTERS FACILITIES:

Transfers from one place to another place once in three years is a common phenomenon, entailing additional expenditure such as huge donation to school and hefty advance for accommodation where quarters are not readily available.  Given the present scenario, it is very difficult to save any amount and the officer has to meet the above eventuality.  Further, hardly any quarters are available for rental ceiling fixed by the Bank and Officers have to bear the differential amount from their pocket. Maintenance of Bank quarters and houses owned by the officers is also costing the officers considerably. In some of the Banks, this expenditure is being reimbursed to the officers.

Moreover, many times due to untimely transfers and educational problems of children & health problems of family members, the officers are unable to shift their family to the transferee place. Under such circumstances, they are burdened with maintaining establishments at two places. Many banks such as State bank & Syndicate Bank have got a scheme of permitting the officers to have the quarters facility in the place of their choice subject to the rent re-imbursement ceiling as applicable to the place of their working.

This General Body of CBOO urges upon the Management
1) to go in for more and more owned quarters at important centres and also to increase the rental ceilings keeping in view the prevailing market rent to minimize the hardship faced by the officers on transfer
 2) to permit the officers to avail the quarters facility at a place of their choice, subject to the rent re-imbursement ceiling as applicable to the place of their working and
3) to  provide for quarters maintenance allowance at least Rs.500/- p.m.
4) HRA to officers staying in own house should be equal to the amount of rental ceiling applicable to the respective scale/place

8. PROTECTION TO OFFICE BEARERS:

In our Bank, the Management has extended protection to all the office bearers/activists at all levels of recognized association of officers, since it was the only Officers Association existing at the relevant period.  Over a period of time the circumstances have changed drastically but the stand of the management has not yet changed.

This General Body of CBOO, the affiliate of Bharathiya Mazdoor Sangh (BMS), number one Trade Union of this country urges upon the Management to have a relook and extend on par protection to the Office Bearers/Activists of CBOO.

9. RATE OF INTEREST OF LOANS & ADVANCES TO OFFICERS INCLUDING HOUSING LOAN:

It is an acknowledged fact that India brushed off global meltdown with strong resistant banking system well supported by Regulatory Mechanism initiated by RBI. If the whole world acknowledges including govt of India by no less than a person than Sri Chidambaram, Home Minister the Public Sector Bank employees in general & officers fraternity in particular deserve due recognition for what India stands today in the comity of world emerging powers. The least govt and the Management need to look and acknowledge is by way of interest concessions for various loans & advances including HL. The bank has already reset ROI for these category of Loans to General Public in the falling Market conditions and have been stabilized after greater exercise. In this scenario, the bank employees certainly deserve better treatment as an expression of recognition of their unstinted involvement in the health of Indian Banking & Economy.

This General Body of CBOO calls upon the Management to immediately revert to review exercise of fixing ROI on various loans including HL to employees which all of us deserve.

10. INCREASE IN THE QUANTUM OF  COMPENSATION OVER DEATH / HOSPITALISATION OF THE MEMBERS  IN THE EXISTING WELFARE SCHEM OF THE ORGANISATION.

For over a decade, our Organisation has been extending financial assistance to  the members in case of members who are hospitalized for undergoing surgery/treatment for the listed diseases to the extent of disallowed amount of claim settled by the Bank, subject to a ceiling of Rs 10,000/-. Apart from this, the Organisation was also compensating the spouse of the members dying in harness to the extent of Rs 10,000/-. The list of beneficiaries has been published in General secretary’s report during every General Body meeting held. This has been a unique welfare scheme of our Organsisation, for the purpose of this welfare activity the Organisation has not been collecting any extra premium/subscription from members. During the EC meeting held at Indore, the scheme was discussed and it was felt that, the amount of Rs 10,000/- needed a review/revision. The EC took a decision to increase the quantum of death compensation from Rs 10,000/- to Rs 1,00,000/-. It was decided to get the decision approved in the next General Body meeting. The EC also decided that a proposal for, an increase in the quantum of ceiling for compensation in case of  Hospitalisation from Rs 10,000/- to Rs 25,000/- may be placed before the General Body meeting through an appropriate resolution. The existing welfare scheme has earned lot of goodwill to the Organisation and in the light of above developments, the quantum of compensation under the scheme requires a revision.

The General body of CBOO hereby approves the decision taken by the EC and ratifies the death compensations extended thereafter with increased quantum of Rs 1,00,000/-. The General body also decides to increase quantum of death compensation from Rs 10,000/- to Rs 1,00,000/- and extend the same to the spouse of deceased members in future. In cases of compensation for Hospitalisation expenses of members, the General Body decides to increase the quantum of ceiling from Rs 10,000/- to Rs 25,000/-. The General Body decides these revisions in the quantum of compensations, subject to all other existing terms and conditions of the scheme remaining unchanged.  

11. INCREASE IN MONTHLY MEMBERSHIP SUBSCRIPTION FROM Rs 50/- TO Rs 80/-.

For every organisation, the financial resource is very important for routine functioning as well as to take up various activities for the growth of organisation as well as for welfare of General members. The organisation has taken up various welfare measures like publishing Guides for promotion aspirants, complimentary  booklet on service conditions to members, Occasional publications of CBOO Vartha, conduction Coaching classes for promotion aspirants at many important centres in the country, conduction Defense study classes  etc. In the spate of increased Discplinary actions against the Officer employees in the bank, our defense representatives have relentlessly devoted their time, energy & leave for defending the Charge sheeted members of our Organisation. Oarganisation has been incuring substantial expenditure on the travel of defense representatives as well as for carrying out branch visits  by  the activists. The quantum of compensations to members under the welfare schemes is revised/reviewed.  In view of the increased organisational activities and various welfare measures   taken up by the Organsiation. Having regards to realities of time there is a need for mobilizing the resource by increasing the monthly membership subscription.

Ths General Body of CBOO hereby decides to enhance the membership subscription from Rs 50/- per month  to Rs 80/- pre month    from  February 2010 onwards.  

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LIST OF OFFICE BEARERS & EXECUTIVE COMMITTEE MEMBERS OF CANARA BANK OFFICERS’ ORGANISATION ELECTED DURING THE GENERAL BODY MEETING HELD AT MYSORE ON  26th DEC 2009

PRESIDENT:
Sri A.N.Madhusudan                          Arakere Gate Bangalore branch

VICE PRESIDENTS:
1. Sri V.K.Goyal                                Lohamandi, Agra branch
2. Sri R.R.Kulkarni                            Bibwevadi, Pune branch
3. Sri M.S.Ganeshmurthy                  Shantinagar, Bangalore branch

GENERAL SECRETARY:
Sri B.K.Irwathraya                            Shantinagar, Bangalore branch

ORGANISING SECRETARY:
Sri Hazarilal Meena                           Malaviyanagar, Jaipur branch

ASSISTANT GENERAL SECRETARIES:
1. Sri T.Mohanraj                               Vasanthnagar, Bangalore branch
2. Sri I.K.Bhat                                    Court Road, Udupi branch
3. Sri A.Manohar Rao                         Abid Road, Hyderabad branch

JOINT SECRETARIES:
1. Sri N.C.Sharma                              Hrishikesh branch
2. Sri S.K.Dabral                                Z.I.Unit, Chandigarh
3. Sri M.H.Shivaprakash                    K.P.West, Bangalore branch

OFFICE SECRETARY:
Sri R.Lokanath                                    N.R.Road, Bangalore branch

TREASURER:
Sri L.V.Shivaswamy                          Cancard Section, H.O.Bangalore

ASSISTANT TREASURER:
Sri Raghavendra Acharya                  Retail Hub, Bangalore

REGIONAL SECRETARIES:
1. Sri U.K.Maheshwari                     Ghaziabad, Vasundara branch
2. Sri ArvindTripathi                         Kuraouli branch
3. Sri B.V.Narsimha Reddy               I.S.Audit, Mumbai
4. Sri D.G.Shetty                               Bhayander, Mumbai branch
5. Sri R.C.Jain                                    C.O.Agra
6. Sri Dr Sunny Philip                        Z.I.Unit, Goa
7. Sri S.R.Ramesh                              C.O.Bangalore Rural
8. Sri M.S.Gurumurthy                      B.S.Section, H.O.Bangalore
9. Sri V.S.Jayakrishna                        C.O.Bangalore Metro
10. Sri S.Gopalakrishnan Nair            Sasthamangalam, Trivandrum branch
11. Sri  Veeranna B Hirekannavar      Shimoga Main branch
12. Sri G.V.Nayak                              Printing & Stationery Section, H.O.Bangalore
13. Sri T.K.Raghupathi                       C.O.Mangalore
14. Sri S.C.Kashinath                          P.C.Section, H.O.Bangalore

EXECUTICE COMMITTEE MEMBERS:
1. Sri K.S.Ayyar                                 Nagpur
2. Sri Satish Shenoy                           CRMD, H.O.Bangalore
3. Sri D.K.Badrinath                          R & L Section, C O Bangalore Metro
4. Sri Harikumar                                 Z.I.Unit Tirunelveli
5. Sri Subramani                                 OLT – Mumbai
6. Sri Ramaraya Nayak                       V.V.Puram, Bangalore branch
7. Sri M.K.Goyal                                 Sikar branch
8. Sri Rajkumar Goja                           Jammu Main branch
9.  Sri K.V.Bhakta                               Vijayanagar, Mysore branch
10. Sri M.B.Eshwarayya                      BMC chowk  Jallandhar branch
11. Sri Akhilesh  Chandra Gupta        Muzaffarnagar Roorkey Road branch
12. Smt U.R.Shanthala                        DIT, H.O.Bangalore
13. Sri Narendra Kumar                      Naroda, Ahmedabad branch
14. Sri P.Prakash                                 Kuvempunagar, Mysore branch
15. Sri H.N.Ambarish                         Ballary Main branch
16. Sri S.Honneshappa                        B.N.Nagar, Hubli branch
17. Sri A.P.Pingle                                C.O.Mumbai
18. Sri V.P.Daigude                            Accounts Section, Pune
19. Sri Kanchan Singh                        C.O.Agra
20. Sri Rathnakar Shet                        C.O.Gulbarga
21. Sri H.V.Chandrashekar                 Dabuspet branch
22. Sri Anilkumar Dudeja                   Kingsway Camp. Delhi branch
23. Sri Sunil Kumar Asthana              C.O.Hyderabad
24. Sri Vasudev                                   Z.I.Unit, Merut
25. Sri Prabhakaran                             Pulpally branch

CONVENOR – STUDY CLASSES, STUDY MATERIALS AND DEFENSE MATTERS:
Sri A.Shivaram                                   C.O.Bangalore Rural

SPECIAL INVIEES TO E.C.MEETINGS:
1. Sri  Ajitkumar                                  Pujapura
2. Sri G.R.Mali                                   C.O.Merut
3. Sri V.S.Varun                                 Etah branch
4. Smt S.S.Ghag                                 Jawale branch
5. Sri I.D.Govinda Rao                       Mayur Vihar, Delhi branch
6. Sri A.K.Gupta                                 Mayapuri, Delhi branch
7. Sri Rituraj                                        Udaipur branch

COPY OF MEMORANDUM SUBMITTED TO ED:
Canara Bank Officers’ Organisation (Regd)
(Affiliated to  NOBO & BMS)
114/6, S.C.Road, Opp: Hotel Hoysala, Sheshadripuram, BANGALORE – 560  020
Ph:080-23460988  President: 080-26787958 Gen Secy:080-26484254
------------------------------------------------------------------------------------------------------------
Date: 18-02-2010

To
Sri.  K L  Jagdish Pai
Executive Director
Canara Bank
Head  Office
Bangalore


Respected Sir,

At the outset, we from Canara Bank Officer’s Organization thank you profusely for providing us an opportunity to put forth our views before you regarding various developments in the Banking Industry in general and also in our Bank in particular, which has lot of implications on the growth and development of our beloved Institution.  We deeply appreciate the concern expressed by you in this regard and the magnanimous gesture of keeping the doors of mutual discussion open for meaningful dialogue.

Sir, certain developments in our Bank in recent times,  particularly in the field of Human Resources Management, we believe,  are disturbing and are not in the best interest of the Bank as well as the workforce.  We are of the opinion that the Frame Work of the Joint Conference which should have been a perfect platform for the recognized officers association to bring these matters of great concern before the top management to take timely corrective steps, has totally failed.

Sir, we the disciplined soldiers of BMS the proponents of the philosophy “Nation First, Institution second and individuals next”, with the development of our beloved Institution at the centre of our heart, are pained to observe sprouting of certain practices which is bound to destroy the very cultural fabric of this century old organization with 45,000 strong people  who are dependent on it directly, few lakhs of their family members indirectly,  chose to knock your doors with this memorandum with a humble request to intervene immediately in the                                                                                
matters which we have narrated in detail in the foregoing paragraphs and invoke your authority to take adequate steps / measure which primarily will instill confidence and “self-belief” amongst Canbank Men and Women.

Firstly, about the “Fear – Psychosis” of the dreaded terminology “accountability”.  Sir, you agree  that Banking business is also a business like any other and the lending decision taken at any level is purely a business decision which can’t go 100% right in all cases at all times. While we strongly condemn and recommend the harshest of punishments to any one who takes such business decision with a malafide intention and causes irreparable damage to the Bank in terms of Financial loss and more so reputation loss, at the same time, we beg to differ with the actions being initiated and the severity of the punishment inflicted to those officials who take pure business decisions for the growth of the portfolio/ branch and the Bank even when their impeccable records prove that the intentions are bonafide.  The so called monster of “accountability” has started engulfing each and every official working in Credit department simply because there are “Certain procedural lapses”.  Sir, you are an expert Banker with nearly 4 decades of Cherished and illustrious Banking career in various esteemed positions and different capacities.  You are very well aware of the competitive environment prevalent in the Banking industry today,  where majority  of the Public Sector Banks are showing renowned  vigour and newly found aggression in garnering business which was an USP of only private sector banks in this  country.  In such an atmosphere, hoping for a business proposition which perfectly meets all the set rules, guidelines of all our Manuals of Instructions, of our Bank, though absolutely desirable, may be slightly far fetching for every proposal being taken up.  In other words, “perfect & rules fit” proposals will be hard to come by and hence one can aspire for only “near perfect” ones thereby making / affording few relaxations here and there.  By this one never attempts to undermine the importance of Manual of Instructions and various guidelines.  However, we want to emphasis the need for being “Pragmatic and Practical” rather than hardliner and “manual bound” all in the interest of institution.  But today in our Bank, the results of such “Practical” decisions are catastrophic.   Investigating officers who have spent years and years in administrative units, advocating only rules and having successfully managed to stay away from the ordeals of Branch Banking in their
entire career and who have never practically handled credit portfolio, record series of deviations and fix accountability for all the tiers of operation officials for almost all lapses which certainly sounds absurd and cynical. In other words exposure, experience and expertise are never the traits for an investigating officer. For an Investigating Officer, perfect compliance of all the guidelines in MOI is all that matters, failure leads to accountability.  Basing  on his reports and without application of mind, charge sheets are issued creating strong impression  that if one works he gets a charge sheet, if one doesn’t, he is a non performer” which also is unacceptable in the present context. Harsh  reality is that, hardly there are few officials in our Bank possessing required skills to work with zeal and enthusiasm in advances department and now they are afraid to handle the credit portfolio for the fear of  “accountability”. Charge sheets are issued even for transactions that happened after the relief of officials from that branch,  when quizzed reply is “let them put up their defence”.  It is like letting loose a terror, a terror called accountability  where as it should have been used as  a tool for disciplining people who are not disciplined.  The loss caused to the Bank and the intentions behind the action of an official and his track record, should alone be the criterion for charge sheets, not the inadequate, inaccurate, inefficient, imbalanced investigation reports which have engulfed the functions of IR department in recent years unabated. Another disturbing trend surfaced recently is the serving of Charge sheets to the officer employees (including executives) at the stroke of the hour of retirement, which has sent out a demoralizing impact not only on concerned officer, but also on others who are on the verge of retirement.

Hence, we submit that, all cases of accountability should be studied carefully and in-depth  and Bank should take disciplinary actions properly assessing the intentions of the employee and loss caused to the Bank.  Issues regarding mere deviations of systems / procedures due to work pressure, ignorance etc. should be viewed leniently/condoned with light punishments like warning letters etc., so that valuable manpower is saved which is now being spent on issue of charge sheets, conducting of enquiry proceedings etc.

Secondly, promotion policy pursued by the Bank during the last few years has created heart-burns amongst almost all sections. With an ambition to fall in line with other Banks who are not blessed with a Work force not as knowledgeable as ours, our Bank also resorted to IBPS question papers which are objective type.  If we analyse the methodology used by IBPS in its question papers, it is about being smart  deciding a correct option amongst 4-5 very close options for a given situation within a fixed time frame, which is common for all the scales.  Many times it leads to luck factors.  The traits to be used for elimination process say for selection to scale I officer, Scale II Manager and Scale IV  Chief Manager are to be entirely different as the post promotion roles they play and the responsibility  they shoulder are entirely different.  Naturally, it proves that people are tested for their capacity to remember contents of circulars of the previous year (On which questions are framed generally) rather than  their capability to take decisions which is the point of relevance for higher scales.  We strongly feel that, our people, may be faculty from our training system should be entrusted with the job of preparing a pool of questions for different scales based on the roles responsibility on attaining higher scales and an effective tamper proof mechanism at the apex level -  say a committee of General Managers for example may be constituted to come out with question papers for all scales from the pool of question so prepared instead of depending on IBPS question paper.  It is observed that, many seniors who have contributed tremendously to the growth of this institution, who are really knowledgeable with regard to our systems and procedure and who’s commitment is unquestionable have failed in promotion examination for promotion to scale II and scale III as they failed to come to terms with IBPS question paper with regard to its methodology rather than contents, as this methodology seems to be skewed more towards younger generation.  Finally at the end of the day, Banking is about taking right decision at right time particularly right lending decision which is acquired through experience, knowledge sharing and knowledge transformation which unfortunately is not the focus point  or at the back ground of all IBPS question papers.  Because of  these facts, majority of our officers particularly seniors are at the wrong end of promotion process and not able to get through which has created heart burn on one side and depriving the Bank a chance of having good, knowledgeable, experienced leaders on a continuous basis on other side. This we strongly feel deserves the immediate attention of the TOP Management.

Thirdly, in tune with the industry level developments, our Bank is also harping on to transform itself into a financial super market instead of sticking on to the traditional financial intermediation.  Well, no one will have any dissent voice on this ambitions transformation for such a century old but an ever  dynamic Bank and vibrant work force like ours.  Instead, there will be support from every corner including us, without an iota    of doubt, for every single effort which converts “the pride of this country” to “Global Financial power house”- as wished by Sri. P Chidambaram the then Finance Minister during centenary celebration of the great institution.  However, the focus seems shifted and priorities seem misplaced.  The efforts of providing additional financial services like insurance, mutual fund etc. should not dislodge the Basic purpose for which our great founder Sri Ammembal Subbarao Pai started this institution - to cater to the Banking needs of the community, which is highly relevant even today when every economist and Bankers, both within the Government and outside talk of inclusive approach of the Banking Industry.   A feeler is sent down the Hierarchy that one has done nothing, if one has not achieved targets fixed under insurance. The worst part of it , nasty letters are being addressed threatening  to  “deal appropriately” if insurance targets are not achieved despite such branch-heads achieving other  business parameters.  Tone and tenor of the letters intend to send shivers down the spine instead of being supporting and motivating.  There are instances where good performers earlier achieving majority of the business  parameters but now  have completely shifted towards insurance business  from regular banking business.  Sir, let the priority be set right and straight so that, the bank does not move away from the edifices of the founding principles.

Lastly, the officer employees now a days are also compelled to work on Sundays/weekly holidays, many a times to carryout ‘Road shows’ for business canvassing or for attending meetings etc. Sir, after a hard work for six days in a week, one requires a day’s rest for rejuvenation, and that is the universally accepted principle of the Weekly holiday concept. If the officer employees are not allowed even to avail this privilege, the accumulated fatigue is bound to affect their health and reduce their productivity, which in turn will affect the business growth of the institution. Hence it is desirable that, the officer employees are allowed to enjoy their weekly offs for rest, rejuvenation & family life.

Sir, we being  a responsible trade union who doesn’t  only preach rights but spell out duties  and responsibilities in the same breath to our cadre  strongly feel that there is an urgent need  to revisit the HR policies of the Bank in the light of certain facts as explained above.  Successful Management is one which depends significantly upon the ability to predict  and control human behaviour.  No industry can be rendered efficient so long as the basic facts remains that it is principally  human more so in a service  oriented industry like ours, not the least we have built this great institution with a distinct identity, a culture which is synonymous with compassion,  understanding and a warmth where all of us proudly identify ourselves by “Canbank Men and Women” which is more eloquent than being mere employees of the bank.

Sir, we are confident that, a dynamic  leader like yourselves will  kindly spend a little time to understand the strong  feeling of the officers community and intervene immediately to take corrective action to regain and boost the confidence level amongst the workforce so that  officers continue to contribute to the growth of this  great organization without any doubt or fear lingering in their minds.

Thanking you

Yours faithfully,

FOR CANARA BANK OFFICERS ORGANISATION

A N MADHUSUDAN                                                  B.K.iRWATHRAYA
PRESIDENT                                                                  GENERAL SECRETARY


LIST CBOO MEMBERS ELECTED TO THE EXECUTIVE COMMITTEE OF NOBO DURING ITS GENERAL BODY HELD AT CHENNAI ON 21ST FEB 2010:
1. Sri A.N.Madusudan       Vice President
2. Sri V.K.Goyal                Deputy General Secretary
3. Sri H.L.Meena               Asst General Secretary
4. Sri A.Shivaram              Asst General Secretary
5. Sri B.K.Irwathraya         Secretary
6. Sri R.R.Kulkarni            Secretary
7.  Sri T.Mohanraj              Secretary
8. Sri S.K.Dabral                Secretary
9. Sri D.K.Badrinath          Secretary
10. Sri Sunil Kumar           Secretary
11. Sri S.C.Kashinath         Secretary
12. Sri N.C.Sharma             Secretary
13. Sri R.Lokanath               Secretary
14. Sri A.Manohar Rao        Secretary
15. Sri M.S.Ganeshmurthy   Secretary
16. Sri M.H.Shivaprakash     Secretary


********************  *  *****************
 ------------------------------------------------------------------------------------------------------------


Cir 3/2010

CANARA BANK OFFICERS’ ORGANISATION (REGD)

(Affiliated to NOBO & BMS)
No.146/8, III floor, Opp: Hotel Hoysala,
Subedar Chatram Road, Seshadripuram, Bangalore – 560 020
=============================================================

Cir 3/10                                                                                                   Date:03-04-2010 

To:

All members.

Dear Brothers & Sisters,
“Hearty Congratulations”
We are happy to inform you that, after a long & sustained battle, the FOUR Officers Organisations of UFBU have been able to achieve the  wage revision as finalized in the meeting held with IBA today. Revised salary fitments & allowances are effective from. 01-11-2007. Details of the same are furnished herebelow:
1) i)      Basic Pay :
JMGS – I
Rs. 14,500/- to Rs. 31,500/-
MMGS – II
Rs. 19,400/- to Rs.34,200/-
MMGS – III
Rs. 25,700/- to Rs. 35,100/-
                   (including two Additional Stagnation Increments)

SMGS – IV
Rs. 30,600/- to Rs. 36,200/-
SMGS – V
Rs. 36,200/- to Rs. 40,400/-
TEG – VI
Rs. 42,000/- to Rs. 46,800/-
TEG – VII
Rs. 46,800/- to Rs. 52,000/-

ii)         D. A. -  At 0.15% per slab for every 4 points rise.
                      (Present DA slabs are 245 and DA percentage is 36.75 % of basic)
iii)        CCA Rates – unchanged.
Higher CCA Area -  4% of Basic – Maximum – Rs. 540
Lower CCA Area – 3% of Basic – Maximum - Rs. 375

iv)        HRA – Rates unchanged.
            Major ‘A’ class cities -           8.5% of basic
            Other places in Area I -           7.5% of basic
            Other places                            -           6.5% of basic

v)         Medical Aid -             Scale I to III   -           Rs.5,100/- p.a.
                                                Scale IV & above -     Rs.6,320/- p.a.
vi)        Stagnation Increments -
            Two additional stagnation increments in each scale upto MMGS – III.

The other residual issues will be sorted out shortly.  It is expected that final Draft settlement duly signed by all the four officers’ Organisations and the Representative of I.B.A., on salary revision and second option for pension for CPF optees will be arrived at during second week of April 2010.

Friends, in the given circumstances, when second pension option is made open to all P.F. optees, including those who have retired, it is a commendable achievement and a satisfactory settlement on salary revision for officers.

We congratulate  all of you, for the whole hearted support extended to the long drawn struggle of UFBU. This settlement is the outcome of the unity of UFBU and strength and support of all dedicated members.

With Greetings,
B.K.IRWATHRAYA
GENERAL SECRETARY
===============================================================
For ready reference, the revised salary  structure compiled for the month of April 2010, in comparison to the old salary structure are furnished herebelow:
 REVISED SALARY FITMENTS FOR OFFICERS FOR APRIL 2010

Old Basic
DA 68.76%
Total Sal -old
New Basic
 DA 36.75%
Total sal -new
Increase
SCALE-I






10000
6876.00
16876.00
14500
5328.75
19828.75
2952.75
10470
7199.17
17669.17
15100
5549.25
20649.25
2980.08
10940
7522.34
18462.34
15700
5769.75
21469.75
3007.41
11410
7845.52
19255.52
16300
5990.25
22290.25
3089.39
11880
8168.69
20048.69
16900
6210.75
23110.75
3062.06
12350
8491.86
20841.86
17500
6431.25
23931.25
3089.39
12820
8815.03
21635.03
18100
6651.75
24751.75
3116.72
13320
9158.83
22478.83
18700
6872.25
25572.25
3093.42
13820
9502.63
23322.63
19400
7129.50
26529.50
3206.87
14320
9846.43
24166.43
20100
7386.75
27486.75
3320.32
14880
10231.49
25111.49
20900
7680.75
28580.75
3469.26
15440
10616.54
26056.54
21700
7974.75
29674.75
3618.21
16000
11001.60
27001.60
22500
8268.75
30768.75
3767.15
16560
11386.66
27946.66
23300
8562.75
31862.75
3916.09
17120
11771.71
28891.71
24100
8856.75
32956.75
4065.04
17680
12156.77
29836.77
24900
9150.75
34050.75
4213.98
18240
12541.82
30781.82
25700
9444.75
35144.75
4362.93
18800
12926.88
31726.88
26500
9738.75
36238.75
4511.87
19360
13311.94
32671.94
27300
10032.75
37332.75
4660.81
19920
13696.99
33616.99
28100
10326.75
38426.75
4809.76
Stagnation
increments





20480
14082.05
34562.05
28900
10620.75
39520.75
4958.70
21040
14467.10
35507.10
29700
10914.75
40614.75
5107.65
Stagnation
additional

30600
11245.50
41845.50

Stagnation
additional

31500
11576.25
43076.25








SCALE-II






13820
9502.63
23322.63
19400
7129.50
26529.50
3206.87
14320
9846.43
24166.43
20100
7386.75
27486.75
3320.32
14880
10231.49
25111.49
20900
7680.75
28580.75
3469.26
15440
10616.54
26056.54
21700
7974.75
29674.75
3618.21
16000
11001.60
27001.60
22500
8268.75
30768.75
3767.15
16560
11386.66
27946.66
23300
8562.75
31862.75
3916.09
17120
11771.71
28891.71
24100
8856.75
32956.75
4065.04
17680
12156.77
29836.77
24900
9150.75
34050.75
4213.98
18240
12541.82
30781.82
25700
9444.75
35144.75
4362.93
18800
12926.88
31726.88
26500
9738.75
36238.75
4511.87
19360
13311.94
32671.94
27300
10032.75
37332.75
4660.81
19920
13696.99
33616.99
28100
10326.75
38426.75
4809.76
20480
14082.05
34562.05
28900
10620.75
39520.75
4958.70
21040
14467.10
35507.10
29700
10914.75
40614.75
5107.65
21660
14893.42
36553.42
30600
11245.50
41845.50
5292.08
Stagnation
increments 





22280
15319.73
37599.73
31500
11576.25
43076.25
5476.52
22900
15746.04
38646.04
32400
11907.00
44307.00
5660.96
Stagnation
additional

33300
12237.75
45537.75

Stagnation
additional

34200
12568.50
46768.50








SCALE-III






18240
12541.82
30781.82
25700
9444.75
35144.75
4362.93
18800
12926.88
31726.88
26500
9738.75
36238.75
4511.87
19360
13311.94
32671.94
27300
10032.75
37332.75
4660.81
19920
13696.99
33616.99
28100
10326.75
38426.75
4809.76
20480
14082.05
34562.05
28900
10620.75
39520.75
4958.70
21040
14467.10
35507.10
29700
10914.75
40614.75
5107.65
21660
14893.42
36553.42
30600
11245.50
41845.50
5292.08
22280
15319.73
37599.73
31500
11576.25
43076.25
5476.52
Stagnation
increments 





22900
15746.04
38646.04
32400
11907.00
44307.00
5660.96
23520
16172.35
39692.35
33300
12237.75
45537.75
5845.40
Stagnation
additional

34200
12568.50
46768.50

Stagnation
additional

35100
12899.25
47999.25








SCALE-IV






20480
14082.05
34562.05
30600
11245.50
41845.50
7283.45
21040
14467.10
35507.10
31500
11576.25
43076.25
7569.15
21660
14893.42
36553.42
32400
11907.00
44307.00
7753.58
22280
15319.73
37599.73
33300
12237.75
45537.75
7938.02
22900
15746.04
38646.04
34200
12568.50
46768.50
8122.46
23520
16172.35
39692.35
35200
12936.00
48136.00
8443.65
24140
16598.66
40738.66
36200
13303.50
49503.50
8764.84







SCALE-V






24140
16598.66
40738.66
36200
13303.50
49503.50
8764.84
24760
17024.98
41784.98
37200
13671.00
50871.00
9086.02
25380
17451.29
42831.29
38200
14038.50
52238.50
9407.21
26000
17877.60
43877.60
39200
14406.00
53606.00
9728.40
26620
18303.91
44923.91
40400
14847.00
55247.00
10323.09







SCALE-VI






26620
18303.91
44923.91
42000
15435.00
57435.00
12511.09
27300
18771.48
46071.48
43200
15876.00
59076.00
13004.52
27980
19239.05
47219.05
44400
16317.00
60717.00
13497.95
28660
19706.62
48366.62
45600
16758.00
62358.00
13991.38
29340
20174.18
49514.18
46800
17199.00
63999.00
14484.82







SCALE-VII






29340
20174.18
49514.18
46800
17199.00
63999.00
14484.82
30020
20641.75
50661.75
48100
17676.75
65776.75
15115.00
30700
21109.32
51809.32
49400
18154.50
67554.50
15745.18
31600
21728.16
53328.16
50700
18632.25
69332.25
16004.09
32600
22415.76
55015.76
52000
19110.00
71110.00
16094.24

INCREMENT STAGES UNDER VARIOUS SCALES:


Scale-I


Scale-II


Stages
Present
Revised
Increments
Present
Revised
Increments
1
10000
14500

13820
19400

2
10470
15100
600
14320
20100
700
3
10940
15700
600
14880
20900
800
4
11410
16300
600
15440
21700
800
5
11880
16900
600
16000
22500
800
6
12350
17500
600
16560
23300
800
7
12820
18100
600
17120
24100
800
8
13320
18700
600
17680
24900
800
9
13820
19400
700
18240
25700
800
10
14320
20100
700
18800
26500
800
11
14880
20900
800
19360
27300
800
12
15440
21700
800
19920
28100
800
13
16000
22500
800
20480
28900
800
14
16560
23300
800
21040
29700
800
15
17120
24100
800
21660
30600
900
16
17680
24900
800
22280
31500
900
17
18240
25700
800
22900
32400
900
18
18800
26500
800

*33300
900
19
19360
27300
800

*34200
900
20
19920
28100
800



+1
20480
28900
800



+2
21040
29700
800



+3

*30600
900



+4

*31500
900





Scale-III


Scale-IV


Stages
Present
Revised
Increments
Present
Revised

1
18240
25700

20480
30600

2
18800
26500
800
21040
31500
900
3
19360
27300
800
21660
32400
900
4
19920
28100
800
22280
33300
900
5
20480
28900
800
22900
34200
900
6
21040
29700
800
23520
35200
1000
7
21660
30600
900
24140
36200
1000
8
22280
31500
900



+1
22900
32400
900



+2
23520
33300
900



+3

*34200
900



+4

*35100
900





Scale-V


Scale-VI


Stages
Present
Revised
Increments
Present
Revised
Increments
1
24140
36200

26620
42000

2
24760
37200
1000
27300
43200
1200
3
25380
38200
1000
27980
44400
1200
4
26000
39300
1100
28660
45600
1200
5
26620
40400
1100
29340
46800
1200

Scale-VII


 Present
Revised
Increments
  29340
46800

30020
48100
1300
30700
49400
1300
31600
50700
1300
32600
52000
1300
 (+  indicates stagnation increments)
  
PENSION OPTION:

Another Option will be available to:

a) Those who were in the service of the Bank on 29th Sept 1995, and continue to be in the service  (option to be exercised with in 60 days from the date of offer).

b) Those who were in the service of the Bank on 29th Sept 1995 and retired thereafter (option to be exercised with in 90 days from the date of offer – entire amount of Bank’s contribution & interest received by the employee on retirement, to be refunded with in 30 days of exercising the option, along with  his share of 30% in the gap of accrued pension fund deficit)

c) Family of those who were in the service of the Bank on 29th Sept 1995 and had died after retirement (option to be exercised by the family of the deceased employee with in 90 days from the date of offer – entire amount of Bank’s contribution & interest received by the deceased employee on retirement, to be refunded with in 30 days of exercising the option, along with  his share of 30% in the gap of accrued pension fund deficit)

d) Family of those who were in the service of the Bank on 29th Sept 1995 and had died while in service of the bank (option to be exercised by the family of the deceased employee with in 90 days from the date of offer – entire amount of Bank’s contribution & interest received upon the death of the employee on retirement, to be refunded with in 30 days of exercising the option, along with  his share of 30% in the gap of accrued pension fund deficit)

The Terms of the settlement will come in to effect from the date of the settlement.

The employees joining the Bank on or after 01-04-2010 will not be eligible for the existing pension scheme. They will be covered under the New contributory pension scheme introduced by the Central Govt.

P.S:- As per the reliable sources, the refund of amount (Management contribution of PF + 30% share of Pension Fund deficit) to be made by the retired employees is equivalent to 157% of the Total amount of Management contribution of PF & interest accrued,  received by the employee at the time of retirement.
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