[sbinews] Wage revision Circular from AISBOF site

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CIRCULAR NO.116
TO ALL AFFILIATES/MEMBERS:             24th November, 2004
SALARY REVISION
SETTLEMENT REACHED
WAGE HIKE BY 13.25% - MOU SIGNED
 We furnish below the text of  Circular No.83 dtd. 24-11-04 issued by AIBOC,
the contents of which are self-explicit.
 With greetings,
Sd/-
 ( SHANTHA RAJU )
 GENERAL SECRETARY


CIRCULAR NO. 83
TO ALL AFFILIATES/MEMBERS:        24TH November 2004
SALARY REVISION
SETTLEMENT REACHED
WAGE HIKE BY 13.25% - MOU SIGNED
The wage negotiations meeting held between the Officers' Organisations and
the IBA have  borne fruits at last.  After a considerable lapse of time, and
the possible threat of agitation due to delays in negotiations, the IBA
convened a meeting on 23.11.2004 to work out a solution to the long pending
issue of salary revision.  Our meeting commenced around 4.00 p.m. since the
meeting with workmen organizations was convened in the forenoon. The major
issue of mobility as far as the workmen was concerned being sorted out, the
IBA had to come out with a final offer on financial package.  The unanimous
view of the constituents of UFBU was that the IBA should be asked to come
out with their improved offer as agreed by them before the conciliation
meeting.
2. Accordingly, the negotiations resumed with IBA improving their offer from
Rupees 1800/- crores to 1900/- crores which was not acceptable to both the
Officers as well as the Workmen Unions.  Thereafter, the constituents of
UFBU met and decided not to accept the offer of IBA and to insist for a
reasonable increase in their offer or to proceed with the earlier decision
on agitation. After  prolonged discussions which extended upto late evening,
a final deal was struck at  Rupees 2200/- Crores. In terms of Officers share
it comes to Rupees 912/-  crores  working out to 13.25%.  Thus the first
stage of deciding the load factor was concluded.
3. Comrades, in the backdrop of the prolonged negotiations and the IBA's
insistence that the management issues should be resolved, the final
conclusion is the best one when compared to the last revision.  In terms of
percentage, it is a substantial gain for the Employees and Officers.  The
other details will be worked  out in a couple of days and in any case the
final agreement comprehensively covering all the aspects of wage settlement
should be possible in a month's time.  The  settlement has  come at an
opportune time  and we are confident that the conclusion of wage settlement
will be an added feather in the cap of  the Confederation  when we are
meeting in our historic  7th Triennial  Conference at Mumbai.  The important
features of the agreement are as follows:
Officers:
The total quantumn of increase is Rupees 912/- crores.
The percentage increase is 13.25%
The percapita comes to Rupees  3625/-
The merger of index is at 2288 points
Date of effect of revision is 1.11.2002
Future D.A. neutralisation shall be 100%.
4. Comrades, we are confident that the final settlement will take care of
our other requirements such as  reasonable level scales etc.
5. Copies of MoU  signed between IBA and the 4 Officers'  Associations as
well as UFBU Circular are enclosed.
We convey our greetings to our members who have rallied round our
organization as well as UFBU with exemplary commitment enabling us to clinch
a fair deal.
With greetings.
Sd/-
(SHANTHA  RAJU)
GENERAL SECRETARY

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