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Rajesh Goyal 



This is in continuation of our article under the same name (Part I), which was uploaded last week.   In that article I have analyzed the implications of the announcements made by UFBU vide their circular dated 22th April, 2013.   That article received wide applaud from bankers across the country.    As promised in the same article, I am now writing Part II of the same.


In their circular dated 22/04/2013, UFBU had informed the members that next round of talks will be held in mid May, 2013.   However, that never took place.   IBA has very coolly and conveniently ignored the promise to hold talks in mid May, 2013, and has shifted the same to 7th June, 2013 i.e. delayed by at least 3 weeks (22 days).  As per my previous article calculations, the delay of 22 days means loss of about Rs 65 crores to bankers merely in the form of interest alone.   Thus, UFBU has failed to put sufficient pressure on IBA to ensure that as promised by IBA, the meeting is held by mid  May.  Bankers will notice that now the meeting will be held after 6 weeks from the last meeting i.e. 22nd April, 2013.


As a follow up UFBU circular, AIBOC too issued its circular dated 25/04/2013 under the heading  'ROAD BLOCKS IN THE NEGOTIATIONS AIBOC IS FULLY PREPARED TO OVERCOME', wherein it reiterated the developments already given in UFBU circular (which I have already discussed in Part I of the article).   However, certain new revelations came to light. AIBOC in its circular says "the attitude of IBA appears to be a confronting one rather creating a favorable climate for a reasonable and fair salary revision. We have showed restrain on our part but have at the same time conveyed to the Negotiating Team that the Management Issues needs to be fine tuned to see that the time tested bipartite negotiations are not jeopardized in the process".


Thus, as confirmed by AIBOC,  IBA's attitude is that of confrontation rather than amicable negotiations.  This is on the expected lines as has been clear in the case of 2nd pension option cases where IBA has tried to put maximum hurdles .  Sadly UFBU, including AIBOC, had been mook spectators.  It was merely because of the efforts of some of the senior bankers in the Courts  that IBA had no alternative but offer 2nd Pension option to bankers who were initially being denied the same.    Now AIBOC boosts that it is FULLY PREPARED TO OVERCOME ROAD BLOCKS, yet the role of AIBOC since the last BPS, specially for pensioners, does not give me that confidence.   They are in the habit of meekly caving in to IBA tactics (as has happened recently in the attempt to oust Mr Srinivasan from BCCI !).   I wish them good luck and we will closely watch their attitude towards the banker's interests. 





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In view of the forthcoming meeting with IBA, an internal meeting of UFBU members was held on 23rd May, 2013, and a circular has been issued by UFBU on next day i.e. 24th May, 2013, to apprise the members about the developments at the internal meeting.   The circular once again beats around the bushes and at the end says  " the UFBU would pursue the demands on wage revision in the next round of talks with IBA scheduled on 07.06.2013".  To announce this at the end of one page is nothing short of a joke to the comrades.   Can any one say that at the next round of talks with IBA they will not purse the demands on wage revision ?  Is it not Disgusting?


Towards the end, the circular talks about the meeting with Chairman of  IBA (Mr K R Kamath) etc.  The list of demands placed includes mostly the old pending demands like compassionate appointments, KYC norms, Clearing system etc. alongwith request for early settlement of the wage revision and 5 day week.   It appears from the circular as if residual demands are more important rather than wage revision.   I have been time and again insisting that these demands needs to be delinked from wage revision, or else bankers will again be cheated.     The circular at the end boosts of "Chairman gave a patient hearing to the issues raised by us".  The UFBU leaders are happy that IBA Chairman gave a patient hearing.  Is patient hearing is sufficient when all the banker community is becoming impatient about the delay in starting of the 10lth BPS talks in the right earnest? 


I have been advising since beginning that UFBU must insist for an outer limit for discussions and finalization of 10th BPS.    Originally, I had thought of about 10 months, but now 7 months have already passed and talks have not made an inch of headway, rather after raising of demands by IBA, it has gone backward.   Thus, now UFBU must insist that talks be concluded maximum by 31st October, 2013 i.e. within 1 year from the date it had become due.  Talks needs to be held within a gap of one week to 10 days.   The maximum gap between two talks should not be more than two weeks in case of emergent cases like meeting with RBI or FM of the concerned members from IBA side. 


UFBU needs to appreciate the concerns of their members about the delay in wage revision and give concrete proposals to show some progress in this front or else members will be more disillusioned. 


Waiting alongwith my fellow bankers  for some real progress in talks as on 7th June, 2013






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