OPEN LETTER SENT TO MR. VENKATACHALAM REGARDING WAGE SETTLEMENT AND DA CALCULATION

Open letter written by some Aggrieved Bank Officers, has been published in one of the websites. We are publishing here the same for our readers.

"Dear sir ,
Kindly share what is right and be transparent so that members have confidence in the UFBU, .besides pension, kindly look in to the aspect of Base Year 1960=100 for calculation of DA for employees. The consumer behavior has gone sea change during this period. Consumption Basket do not have many essentials i.e.Petrol, Potato, Cooking Gas etc. All other employees are getting their DA based on 2001=100 series whereas Bankemployees are kept in Dark and they get DA on primitive base year.  We are not intelligent enough in keeping the base year at 1960. This do not compensate for price rise properly and as per expert the base year should not be more than 5-10 year old. This is the reason why there is so much gap in compensation of Bank employees vis-a-vis Central Government / PSUs etc. If we would have awakened earlier the problem could have been arrested at the beginning. Our leadership has been sleeping all these years since 1988.
Please take care of youngsters in Banking and they have been given peanuts in all the settlement. The settlement should not be biased towards old/ retired.  The compensation package prevailing currently is a gross violation of the promise made to youngsters at the time of joining the Bank. No body from the union should advise youngsters to leave the Bank for better prospects as our leaders are unable to get a decent settlement for the staff.
Kindly do not call for strike for non-sense reason which are other than wage revision, regulated working hours, parity of pay /allowances across all PSBs.
As regards UFBU will take care .UFBU do not have mandate for 17.50 % wage revision and if it has then put it to vote for members as is being done in Brazil reported by AIBEA on website.
All youngsters in banking "
Source: http://www.allbankingsolutions.com/Wage-revision-open-letter-venkatachalam.HTM