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Wednesday, December 16, 2009

Bank employees to go for strike today

Bank employees are planning to go on strike on December 16 during the Parliament Session against banking sector reforms such as privatisation of public sector banks (PSBs) and closure and merger of associate banks/other PSBs with State Bank of India.

It is not for the first time that bank employees are going for such a move in the country, they have always opposed privatization and the government has heeded their demands and has always gone slow in the privatization efforts.

All India Bank Employees Association and the All India Bank Officers Association, which called for the strike, said bank employees and officers in public sector banks, private banks and foreign banks will observe an all-India strike on December 16

Friday, December 11, 2009

Return of Medals by Ex-servicemen and officers

Retired soldiers and officers have returned their medals during last few years. Nine cardboard boxes full of medals have been received. In protest against non-acceptance of their demands of ‘One Rank, One Pension’. Although the ‘One Rank One Pension’ demand has not been accepted, keeping in view the spirit of the matter, the committee constituted has recommended substantial improvement in pension of pre Jan 01, 2006 PBOR pensioners and bring pre October 10, 1997 pensioners on par with post October 10, 1997 pensioners
This information was given by Minister of State for Defence Shri MM Pallam Raju in written reply to Shri Shivanand Tiwari and Shri Ravi Shankar Prasad in Rajya Sabha today.

Monday, December 7, 2009

8% DA Hike from January 2010

The information given below is only openion. Please dont take it for authenticated one.

As per the figures available from Labour Bureau, Government of India (http://labourbureau.nic.in/indtab.html) it can be assumed that minimum of 8% DA hike can be assumed from January 2010, totaling 35% from current 27%. This is calculated assuming that the All India Consumer Price Index (AICPI) remains unchanged for November and December, which are yet to be announced. These figures for November and December 2009 will be announced on 31 Dec 2009 and 29 Jan 2010 respectively.

Month

Year

Base Year
2001=100

Total

Average

App. DA

DA

May

2008

139

1613

June

2008

140

1623

135.25

16.84

16

July

2008

143

1634

August

2008

143

1634

Sep

2008

146

1659

Oct

2008

148

1673

Nov

2008

148

1687

Dec

2008

147

1700

141.67

22.38

22

Jan

2009

148

1714

Feb

2009

149

1728

Mar

2009

148

1739

Apr

2009

150

1751

May

2009

151

1763

June

2009

153

1776

148

27.85

27

July

2009

160 1793

August

2009

162 1812

Sep

2009

163 1829

Oct

2009

165 1846

Nov

2009

165 1863

Dec

2009

165 1881 153.75 35.40 35

Thursday, December 3, 2009

Bank wage arrears to be paid by Feb. 2010

The bank employees and officers will get a bonanza from the wage settlement arrived at on Friday between the bank unions and Indian Banks' Association (IBA). The Income Tax Department will also collect some amount as tax deducted at source (TDS) from the near Rs. 10,000 crore of wage arrears that are likely to be distributed in cash sometime in February next year, sources said.

"It will take three months for us to finalize the settlement and implement it. The arrears for two years and three months (since November 2007) are likely to be disbursed in cash at one go," C.H.Venkatachalam, Convenor, United Forum of Bank Unions (UFBU), told Business Line. He also said that the annual average per capita increase for public sector bank officers would be Rs. 91,800 and in the case of workmen employees it would be Rs. 56,200.
Just as the Sixth Pay Commission award for government employees had a positive impact on the economy and increased demand, the payment of arrears in cash to bank employees is also likely to give a boost to the growth impulses. This is even as the quantum of arrear payout under the ninth bipartite settlement being substantially lower than the arrear payment under the Sixth Pay Commission award.
Under the settlement, public sector banks have agreed to an aggregate annual wage increase of Rs. 4,816 crore (17.5 percent increase over wage bill of Rs. 27,520 crore as on end-March 2007). This amount of Rs. 4,816 crore pertains to only public sector banks and there will be a similar 17.5 percent wage hike for employees and officers in old generation private banks and a few foreign banks, Venkatachalam said.