The Joint Note for the 10th bipartite settlement...
was signed on May 25 but many issues remained unaddressed on the assurance of the Indian Banks’ Association (IBA) that action would be taken without delay. These include issues relating to retirees covered in the record cote; disciplinary matters; calling officers for work on Sundays/holidays; and anomaly in stagnation increments.
Even settled issues of medical aid and reimbursement of medical expenses for retired employees through insurance, have not been implemented.
AIBOC alleges that despite the lapse of six months and several reminders, no steps have been taken by the IBA to resolve them. There is no move either to start negotiations or restart discussions. The IBA has not extended even the normal courtesy of acknowledging AIBOC communications.
They are also opposing the recommendations of PJ Nayak Committee that among others called for diluting stake in public sector banks; privatise them through denial of capital; put up a Banking Bureau Board; deliberately delay appointment of officer-directors on boards; pick private entrepreneurs as MDs and chairmen in Banks; and permit FDI.
An RBI-constituted committee led by PJ Nayak last year submitted its recommendations to improve the governance structure of state-owned banks and also to help private sector banks attract more capital. The panel recommended to reduce government stake in PSU banks to less than 50 percent. It also suggested that the government should transfer its stake in PSU banks to a holding company termed Bank Investment Company.
They are also demanding to re-look at the 10th bipartite settlement in view of the recommendations of 7th Pay Commission and salary settlement of LIC employees.
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