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2012 - What is Likely In Store for Bankers in the year when next Wage Revision is Due



Dear friends,

I would like to share my views on the present conditions of Bankmen in the light of the forthcoming Bipartite Settlement due in November 2012.

 9th Bipartite settlement due in 2007 was delayed by two and half year which could have been signed before Lok Sabha elections in 2009 with a better bargain.

This settlement, on one hand brought pension scheme to the P.F. optees,  on other hand it caused dissatisfaction among the Bankmen due to low wage increase.

Cases are pending with High Courts of different states against 2.8 times recovery for fresh option of pension. Different fora  have also emerged to fight against anomalies of 9th bipartite settlement. Union leaders whose role was like corrupt politicians on settlement, have lost the confidence of a common member. Finally it ruined the unity of Bankmen.


Now let us analyse the present scenario

RBI has deregulated the Interest on Savings Bank account. Basel III norms are being implemented shortly. Banking Regulation Act. and Companies Act. are likely to be amended  which will open the doors for more private sector banks in the country. This will lead to stiff competition among banks finally pressurising the profitability of banks. Global recession is going to add fuel to this fire.

 I foresee an upcoming propaganda that banking industry is not earning desired profits and banks have yet to pay the amortised contribution to the Pension Fund and there are not favorable conditions for wage revision/salary hike. In the light of that propaganda every effort will be made to delay the 10th bipartite settlement on  one or other pretext.

Meanwhile the conditions of Bankmen will continue to remain pathetic. Officers will continue to work till 8-9 pm even on Sundays and holidays. They will be exploited till the last drop of their blood is converted to the profit of the bank.

In 2015 the 10th Bipartite Agreement will be signed, almost in the same fashion as was signed in 2010. We will be asked to pay levy on the arrear and union leaders will go to another hill station to celebrate their achievements.

Friends, I am sorry that I have put an ugly picture of 10th Bipartite Settlement but I have no reason to be overoptimistic in these circumstances.

Dear friends, I request you all to mount some pressure on the leaders of the unions to which you belong. Past experience with these leaders was not encouraging. We should be cautious enough to protect our interests in coming years. Let us start discussions on forthcoming 10th Bipartite settlement so that we can mount adequate pressure on concerned parties in order to get the agreement signed in Nov. - Dec. 2012 with a better bargain.