:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

SRI A.R. SAIFULLA, PRESIDENT, A.I.C.B.O.F.

SRI A.R. SAIFULLA, PRESIDENT, A.I.C.B.O.F.

SRI A.R. SAIFULLA, PRESIDENT, A.I.C.B.O.F.

SRI D.V. KRISHNA RAO, SR. VICE PRESIDENT, CBOA, AP PROPOSING VOTE OF THANKS

Sri D.V. Krishna Rao, Sr. Vice President, CBOA, AP proposing vote of thanks

SRI A.R. SAIFULLA IS PRESENTED WITH MEMENTO BY A.P. UNIT

Sri K. Kumaraswamy, President, CBOA, AP and Sri C.A. Mallikarjuna Rao, General Secretary, CBOA, AP presenting the Memento to Sri A.R. Saifulla

SRI A.R. SAIFULLA IS FELICITATED BY HYDERABAD UNIT

Sri M. Siva Sankara Rao, Regional Secretary, Hyderabad and Sri Gururaj Joshi, Regional President, Hyderabad felicitating Sri A.R. Saifulla, President, AICBOF

SRI A.R. SAIFULLA IS FELICITATED BY VIJAYAWADA UNIT

Sri D.V. Krishna Rao, Regional Secretary, Vijayawada and Sri M. Koteswara Rao,Organising Secretary, AP Unit felicitating Sri A.R. Saifulla, President, AICBOF

SRI A.R. SAIFULLA ADDRESSING THE GATHERING

A VIEW OF GATHERING

A VIEW OF HUGE GATHERING

A VIEW OF GATHERING

A VIEW OF THE ATTENDANCE

SRI C.A. MALLIKARJUNA RAO, GENERAL SECRETARY, CBOA ADDRESSING THE GATHERING

Sri C.A. Mallikarjuna Rao, General Secretary, CBOA, Andhra Pradesh addressing the gathering

LEADERS ON THE DAIS


From left to right: Sri James Xavier, Chairman, Sri C.A. Mallikarjuna Rao, General Secretary, Sri A.R. Saifulla, President, AICBOF, Sri K. Kumaraswamy, President and Sri L. Prabhakara Rao, Treasurer

SRI A.R. SAIFULLA VISITED HYDERABAD

The meeting, which was arranged at Hyderabad, on the visit of Sri A.R. Saifulla, President, All India Central Bank Officers' Federation, has been turned out as a grand success. We are placing the photographs taken on the  occasion for our readers.

CBOA, AP CIRCULAR NO. 002 DATED 04.01.2011

CBOA, AP issued its circular No. 002 dated 04.01.2011 on the general meeting arranged at Hyderabad on 08th January on the eve of the visit of Mr. A.R. Saifullah, President, All India Central Bank Officers’ Federation (A.I.C.B.O.F.). We are placing the same here for our readers.

CIRCULAR NO.: GS: 2011: 002                                Date: 04.01.2011

TO ALL MEMBERS

Dear Friends,

MR. A.R. SAIFULLAH, PRESIDENT, A.I.C.B.O.F. VISITS HYDERABAD
A GENERAL MEETING IS ARRANGED ON 8TH JANUARY 2011

You are aware that Mr. A.R. Saifullah, Sr. Vice-President, All India Central Bank Officers’ Federation has been co-opted as President, after the retirement of Mr. N.K. Pareek from the services of our Bank. You are also aware that Mr. Saifullah has been leading the Officers’ movement in our Bank as General Secretary, Central Bank Officers’ Association, Tamil Nadu since long.

We are glad to inform you that Mr. Saifullah will be visiting Hyderabad on 08th January 2011, for the first time after becoming the President of our Federation. On our request, he has agreed to take part in the Office Bearers’ meeting proposed to be held at 02.30 p.m. at our Association Office on Saturday. Since Mr. Saifullah will be visiting Hyderabad as President of our Federation for the first time, it has also been decided to felicitate him on this occasion in a befitting manner.

We would also like to inform you that our Federation has been invited by the Central Office Management during the last of week of December to have full fledged discussions on long pending issues of the Officers – Fitment Formula, Transfer Policy and Promotion Policy. During the meeting, we have raised several important issues and put forth various suggestions for the benefit of Officers. Final outcome of the discussions is expected to come out shortly.

As Mr. Saifullah will be visiting Hyderabad in the backdrop of our above discussions with the management at Central Office and he being one of the key participants of the discussions, a general meeting for the Officers has been arranged to enable the officers to have first hand information on Fitment Formula, Transfer Policy, Promotion Policy etc. and also to get ourselves enlightened with the latest developments in the Bank as well as the Industry.

Accordingly, the meeting is arranged at 05.00 p.m. on Saturday at Hotel Mandakini Jaya International, Abids, Hyderabad, which will be followed by a dinner.

We request all of you to make it convenient to attend the meeting as well as the felicitation programme in large numbers and make it a grand success.

Yours sincerely,
Sd/-
(C.A. MALLIKARJUNA RAO)
GENERAL SECRETARY

BANKS TO ALLOW SINGLE ATM TRANSACTION FOR ONE PIN ENTRY

Next time you go to a bank ATM, be ready to re-enter your PIN afresh for every transaction you wish to conduct, such as money withdrawal, balance enquiry and checking account details.

In order to check misuse of ATM cards by unauthorised people, RBI has asked banks to allow only one transaction at ATM machines for one entry of PIN (Personal Identification Number which acts like a password for ATM transactions).

The transactions that a bank customer can conduct through the ATMs (Automated Teller Machines), by inserting or swiping the card and entering the PIN, include withdrawal of money, deposits, fund transfer, bill payments, checking account details etc.

Previously, customers were allowed to conduct multiple transactions through the ATM by punching in their PIN only once in a single session.

However, the practice was vulnerable to misuse by unauthorised people, especially in case authorised customers forgot to collect their ATM card after conducting the transaction.

There have also been cases when some people tamper with the ATM machines in a way that a customer cannot collect the ATM card after conducting the transaction. Once the customer moves out of the ATM machine thinking that the withheld card needed to be collected from the bank, the fraudster goes into the ATM and withdraws money as previous session remains active with the PIN already punched in.

Having received several complaints about the vulnerabilities of the existing practice, RBI has asked the banks to make changes in their systems to allow only one transaction for every entry of the PIN.

Although, RBI had asked all banks to follow these guidelines with effect from January 1, 2011, some of the banks are still in the process of updating their systems with the required changes. In the meantime, the banks have started communicating to their customers about the changes in the way ATM transactions are conducted.

ATMs have become a preferred mode of banking transactions for both customers and banks, due to the convenience and cost-saving factors. The volume of ATM transactions increased from 17,797 lakh aggregating to Rs 4,38,151 crore during 2007-08 to 23,530 lakh aggregating to Rs 6,16,456 crore during 2008-09, as per RBI.

NH BANK SEES RATES GOING UP; REALITY SET TO CORRECT

According to Mr. R.V. Verma, Chairman and Managing Director, National Housing Bank expects lending rates to go up further and reality prices to correct because of the current tight liquidity situation and higher provisioning for realty loans.

CASH-STRAPPED BANKS UNLEASH FD RATE WAR

The good old days of high FD rates are back. As banks—hard-pressed for funds—raise fixed deposit rates, risk-averse investors, who prefer the safety of bank deposits that earn them a fixed amount at regular intervals, are all set to reap rich dividends.

This is great news for senior citizens, mainly the retired people, who have most of their life’s savings in bank FDs and depend on interest income they earn on these. What is more, market players believe the FD rates have not yet peaked and expected to go up further from here.

Consider this: On Tuesday, IDBI Bank said it will pay an interest rate of 10% to senior citizens for FDs of 1,100-day maturity. For regular customers, the applicable rate of interest for the same maturity is 9.25%. The icing on the cake is that the bank will not charge any penal rate in case any of its customers, across all maturities, decides to break an FD before maturity.

Compared to IDBI Bank’s rates, SBI is paying senior citizens 9.5% for FDs of 555 days and 1,000 days, and 9% to regular customers. And HDFC Bank will pay 9.50% to senior citizens and 9% to regular customers for FDs of 2-yearand-16-day maturity. The case is the same for most other banks, including foreign banks, which have hiked FD rates several times in the last few months.

Not only in one, two and three-year brackets, even for shorter duration FDs, rates have been increased. For example , IDBI Bank is paying 8% for FDs of 279-day to 1-year maturity, SBI is paying 7.75% for FDs of 181 days to 1 year and HDFC Bank is paying 7.75% for the 9-monthand-16-day scheme, all to regular customers. For senior citizens, the rates are higher by 50-75 basis points.

There are at least three reasons why banks are competing for FD funds and the fight could continue for some more months. For one, the loan growth of banks is higher than deposit growth in the economy. Recently, in its policy review meeting, Reserve bank of India (RBI) pointed out that while loan growth rate was at nearly 23%, the corresponding number for deposit growth was about 15%. This means loan offtake from banks had a much higher rate than the rate at which people were keeping money with banks, an undesirable situation for the banking system.

On its part, to tackle inflation , RBI has tightened the liquidity situation. The latest WPI figure was 7.4% while the food inflation rate was 14.4% with expectations that both these rates would again rise. “Unless inflation is brought under control, RBI will not ease the liquidity situation in a big way,” said a bond dealer. “And there is no indication that inflation will come down anytime soon,” he added. Recently, RBI has announced open market operations (OMOs) and cut down on the size of government borrowing to ease the extremely tight liquidity situation to some extent. The net repo outstanding has now come down to about Rs 69,000 crore from a high of Rs 1.7 lakh crore on December 22.

The Rate Card

State Bank of India

555 days and 1,000 days: 9% for regular customers, 9.50% for senior citizens

ICICI Bank

990 days: 8.50% for regular customers, 9.25% for senior citizens

HDFC Bank

2 years, 16 days: 9% for regular customers; 9.50% for senior citizens

IDBI Bank*
 
1,100 days: 9.25% for regular customers, 10% for senior citizens

Bank of India

1-2 yrs: 8.50% for regular customers, 9% for senior citizens

*No penalty on pre-mature breaking of FDs, unlike other banks

C.B.O.A., A.P. CIRCULAR NO. 1 DATED 03.01.2001

CBOA, AP issued its circular No. 1 dated 03.01.2011 reproducing the circular received from AIBOC. The same is placed here for our readers.

CIRCULAR NO.: GS: 2011: 001                    Date: 03.01.2011

TO ALL OFFICERS                                       PLEASE CIRCULATE

Dear Friends,

We reproduce hereunder the CIRCULAR No. 1 dated 01-01-2011 received from A.I.B.O.C. for your information.

With best regards                                                                     

Yours sincerely
Sd/-
(C.A. MALLIKARJUNA RAO)
GENERAL SECRETARY

“WELCOME, THE NEW YEAR 2011

We are yet again on the threshold of a new year 2011, which holds new hopes, new challenges and exciting new opportunities for all of us in the Banking Industry. In the backdrop of the country achieving 9% growth in GDP, the country has a daunting challenge of sustaining the growth and move forward to achieve new horizons on the economic front. With a robust financial market, our country has been in a position to attract FDI, in a substantial size, giving fillip to the economic activities, spurring growth in employment opportunities, thereby generating income to the vast mass of the country. The Government’s efforts to alleviate the problems of the poor, through generation of employment and massive literacy programmes, need to be augmented on a massive scale. Otherwise, attainment of 9+%  of GDP will be a hollow concept, meaning nothing for more than 45% of  poor people of the country who are below the poverty line struggling for a square meal.  The Government, which is scam ridden, should come out with people oriented programmes, with clean and corrupt free administration. The lopsided policies of the Government, rampant corruption in Government Departments, glaring inequalities, yawning gap between the haves and have-nots, need to be addressed with a human heart added with strong political will.

The country’s quest for a permanent seat in the U.N. Security Council is on the anvil and is likely to be reality before soon. There is also an urgent need to strengthen our relationship with the neighboring countries, to achieve sustainable peace in the subcontinent.

The Banking Industry which showed a robust growth achieved spectacular results, achieving all time high profitability. The growth trajectory is expected to move northward in the coming year.

All India Bank Officers’ Confederation occupied the centre stage in the struggle for achieving a satisfactory salary revision and another option for pension, a long cherished dream come true, bringing joy to the PF optees. The saga of struggle to achieve the best of facilities, allowances, perquisites will continue, without any let up. Having achieved the best salary revision in the Banking Industry, it is AIBOC’s single minded pursuit and campaign to achieve the wholesome good of the officers’ community. We are yet to traverse a bumpy road to achieve the following residual issues.

               I)    Pension shall be upgraded /updated on revision of scales. There shall be higher pension for older pensioners, as available to Central Government Employees.
             II)    Commercial Bank allowance of Rs.5000/- p.m. is paid to all officers as available in RBI
          III)    Pension at 50% of last drawn Basic Pay without linking to number of years of service
          IV)    Improvement in commutation formula at 40% of Basic Pay
            V)    Introduction of separate Consumer Price Index (CPI) for Bank Employees
          VI)    Payment of Family Pension at enhanced rate for first 10 years
       VII)    Five day week for Bank Employees/Officers
     VIII)    Child care leave to women officers to be extended to two years as is being done in case of Central Government Women Employees
          IX)    Insurance covering the lending risks
             X)    Provision of 15 days lodging facility on transfer
          XI)    Setting –up of an exclusive Central Administrative Tribunal and Central Vigilance Commission for Bank Officers
        XII)    Pension option to officers who retired under VRS scheme of the Banks, retired on account of imposition of punishment of compulsory retirement, discharge, termination etc
     XIII)    Improvements in Housing and Conveyance loan facilities etc
     XIV)    Review of Service Rules and disciplinary proceedings etc.

The list is illustrative and not exhaustive. The AIBOC will be on a campaign trail from now onwards. We are aware of the aspirations and expectations of our Members across the country and our New Year resolution will be to achieve the above issues expeditiously.

Now that, we have achieved Salary Revision and Pension Option for the PF Optees, we cannot bask in the past glory and it is time for all of us to sweat more and more during peace time, so that there is less bleeding during war time.

With hopes of a bright and better future for all of us, we will move forward to achieve the goals set before us. Our unity and solidarity will be further fortified during the New Year. Let us march together hand in hand, with fusion of our hearts and minds to realize our dreams, hopes and aspirations.

Year’s end is neither an end nor a beginning, but a continued march on, with all the wisdom that experience can instill in us.

WISHING ALL OUR AFFILIATES AND MEMBERS
A VERY HAPPY, SUCCESSFUL NEW YEAR 2011”

With seasons greetings
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
                                                            OFFICERS’ COMMUNITY   ……     ZINDABAD
                                                            A.I.B.O.C.                               ……     ZINDABAD
                                                            A.I.C.B.O.F                             ……     ZINDABAD
                                                            C.B.O.A.                                 ……     ZINDABAD

BANK OF INDIA INCREASES DEPOSIT RATES BY UP TO 0.75 PC

Bank of India increased interest rates on a few fixed deposit schemes by up to 0.75 per cent.


The announcement by the bank follows similar moves by its peers, including State Bank of India , IDBI Bank , Kotak Mahindra Bank and Dena Bank among others, which have hiked their respective interest rates in line with the higher interest rate scenario.

Bank of India's revised rates are effective from 03.01.11 and the minimum size of a deposit has to be Rs 1 lakh.

Revisions have been done across deposit sizes, starting from those under Rs 15 lakh to Rs 5 crore and above.

Under the revised interest rates, a 180-269 days deposit under Rs 15 lakh will fetch an interest of 7.25 per cent as against 6.50 per cent earlier while one for 270-364 days will earn the depositor 7.50 per cent per annum compared to 6.75 per cent earlier.

In another move, for deposits of Rs 1-crore and above, the daily rate of interest will be quoted by the bank's treasury department on the core banking system ( CBS )) ticker after taking into account liquidity position and the market conditions for 1 year and above but less than 2 years bucket.


IDBI BANK HIKES RETAIL TERM DEPOSIT RATES BY UP TO 75 BPS

IDBI Bank announced an increase in the interest rate on certain retail term deposit schemes by up to 75 basis points, in line with similar steps by its peers.

The interest rates were hiked for deposits of both less than Rs 15 lakh as well as those of between Rs 15 lakh and up to Rs 1 crore.

In an additional offering to woo customers in the current stage when interest rates are on an upswing, IDBI Bank has decided to do away with penalties on premature withdrawals of fixed deposits. Currently, the bank levies a premature withdrawal penalty of 1 per cent.

In a rising interest rate scenario, customers prefer shifting their deposits to a bank offering higher interest rates and withdrawal of the penalty will help the bank attract more deposits.

Fresh deposits and renewals made after January 1, 2011 will not be charged a withdrawal penalty, the bank said.

The rate hike announced is from immediate effect and with the revision, the highest interest on retail term deposits would be 9.25 per cent.

For deposits of up to Rs 15 lakh, the maximum hike is of 75 basis points.

The interest rate on deposits with a maturity period of 270 days and above, but less than one year, has been increased by 75 basis points to 8 per cent.

Furthermore, the rates for deposits with a tenor of between one year plus one day and 499 days have been hiked by 35 basis points to 8.50 per cent.

For retail term deposits with a maturity period of 500 days, the bank has revised the interest rate to 9 per cent, up 50 basis points from the prevailing rate.

Another major hike will be effected on deposits with a tenor between 500 days and 1,099. The rate of interest on such retail term deposits has been increased by 75 basis points to 9 per cent.

Besides, for deposits with a maturity of 1,100 days, the new rate will be 9.25 per cent, up 50 basis points.

For deposits of up to Rs 15 lakh with a duration of seven year to ten years, the rates have been revised upward by 25 basis points to 8.75 per cent.

Other lenders such as Dena Bank, Kotak Mahindra Bank, State Bank of India and HDFC Bank among others have already hiked their retail term-deposit rates.

PNB RAISES FIXED DEPOSIT RATES FOR NON-RESIDENTS

In line with increasing interest rates, Punjab National Bank announced hike in fixed deposits rates for non-residents denominated in rupee and foreign currencies by up to 10 basis points.

Interest rates on non-resident external rupee term deposit for two years to less than three years has been upped from 2.51 per cent to 2.60 per cent and for three years to five years from 2.79 per cent to 3.09 per cent.

Similarly for foriegn currency non-resident (B) deposits hike has been made for deposits in US dollar, pound sterling, euro, Australian dollar and Canadian dollar.

The hike in deposit rates for non-residents by PNB came in the wake of major lenders announcing increase in deposit rates.

Major lenders, including State Bank of India (SBI), ICICI Bank and HDFC Bank, had raised their deposit rates by up to one percentage point.

With inflation at 7.48 per cent in November and food inflation expected to increase it further in December, deposit rates in India are in fact not giving much returns adjusted for the rate of price rise.

In fact, RBI has been asking banks to raise deposit rates, to more people in parking their funds with banks.

AIBOC CIRCULAR NO. 168 DATED 31.12.2010

AIBOC issued its circular No. 168 dated 31.12.2010 on the year 2010. We are reproducing the same here for our readers.

CIRCULAR NO.168                                            DATE: 31.12.2010

TO AFFILAITES/MEMBERS

                                     GOODBYE- 2010

We are at the end of the year 2010, which witnessed many epoch making events as well as disasters of very high magnitude. The year was designated as the “International year of Bio-diversity” and the “International year of Youth”. The concerns on Bio-diversity and ecological issues including global warming dominated the debates in the International Conference on preservation of the global bio-diversity and ecological balance at Cancun, Mexico. With advancement in healthcare and medicine, the number of young people is increasing and in our own country the percentage of young people below the age of 30 years being almost 30% of the total population.

The beginning of the year saw the dark shadow of global recession, still gripping the European and American continents. Greece’s sovereign rating was down graded sending shock waves throughout Europe. The financial markets across the globe saw their worst ever low. Amidst a pal of gloom, the Indian Financial Market continued to grow steadily with stability.

The Wikileaks expose sent shock waves through out the world and the hypocrisy; double standards followed by many world leaders were exposed. The expose showed the true colour of many political figures across the globe.

The year saw many African countries entering golden jubilee year of their liberation from colonial rule.

The year had its share of natural disasters. The Chilean mining employees’ trapping in the mines for 69 days and their miraculous escape, stand out as a  testimony to the indomitable spirit of human endeavour. Their miraculous escape was received with rejoicing all over the world. 

A devastating earthquake in Haiti, Chile, Qinghai, China, heavy flooding in Pakistan, led to loss of lakhs of lives and displacement of millions. The volcanic ash in Iceland posed a big threat to air traffic. There were darker moments of air crash in the Mediterranean sea, Libya, Cuba and Mangalore.

The 2010 FIFA World Cup was held in South Africa, with Spain emerging as champion. In India the big XIX Commonwealth Games held in Delhi, showed to the world our ability to hold events of such colossal nature. India emerged as the second in medal tally with 38 golds and overall 101.

In Asian Games held in China, Indian Athletes, Tennis, Badminton Players, Kabaddi, Boxing, Archery Teams and shooters made the country proud by their extraordinary performance.

The Cricket legend Sri. Sachin Tendulkar, slammed the 50th Test hundred to emerge as the only player to achieve this feat, in the history of Cricket.

Our country once again received  the global attention with the visit of Prince Charles of UK, Mr. David Cameroon, Prime Minister of England,  Mr. Barrack Obama, President of USA, Mr. Nicholas Sarkojy,  President of France, Mr. Dimitri Medvedev, President of Russia and  Prime Minister of China Mr. Wen Jiabao.

Our neighbour, Myanmar was in the spotlight, when the pro- democracy icon Aungsan Suukyi, was released from the house arrest by the military Junta.

The year continues to haunt the conscience of the honest Indians who have been a witness to the huge scams and frauds, reports on corruption by the politicians and people in power. Blocking the Parliamentary sessions for almost 17 days without any transaction, remains a black spot on our democracy. The year held the promise of a more matured democracy when the people of Bihar dislodged sectarian, communal politicians and voted in favour of development and progress of the state.

The following are few of achievements of Confederation during the year:

a.         The struggle for Salary Revision with highest ever increase of 17.5% of wage bill and realizing the dream of achieving another option for Pension to CPF optees  fructified with the signing of the 9th Bipartite settlement/Joint Note on 27. 04.2010, bringing joy, happiness and cheers to a large number of employees /officers in the Banking Industry.

b.         As a result of our concerted efforts with the Labour /Finance Ministry, the ceiling of gratuity was enhanced from Rs. 3.50 lac to Rs.10.00 lac  w.e.f. 24.05.2010. under the payment of Gratuity (Amendment) Act 2010.

c.         A brain storming conclave of the General Secretaries of the affiliates of the Confederation was held at Vagamon on 15th & 16th, May 2010, during which “Vision, Mission and Value” statements were adopted.

d.         Following a decision taken during Vagamon conclave, two “AI- Power” programmes were conducted by “NATURE” a wing of AISBOF, for three days each during August 2010 to motivate and guide second line of leadership.

e.         Consequent upon introducing 2nd Option on pension, in order to educate office bearers regarding fixation of pension, family pension, two workshops programmes were concluded by “NATURE” during September-2010.

f.          Conclave of Presidents of the affiliates of AIBOC was conducted  on 5th & 6th October, 2010 at Sehore.

g.         The  NATURE celebrated its 100th programme in Bangalore on 12th and 13th December -2010 in a grand manner. It was a high profile programme and the participants have appreciated the function in very high words as it was a unique programme of its kind.

h.         Two days’ seminar on the “Role of Officer Directors”, was held at Mumbai on 22nd and 23rd November-2010. A futuristic agenda for our representatives was set during the seminar.

i.          The Silver Jubilee Celebrations of AIBOC were held in a very meaningful manner, by undertaking many social activities to commemorate the occasion. We expressed our concerns to the problems of the society, the poor, the underprivileged, deprived through our social activities. The National Seminar on “The Impact of globalization on Trade Union Movement” showed to the world our concern for the contemporary social and economic problems. AIBOC’s emergence as a force to reckon with in the Trade Union movement in the country remains the hallmark.

Time has come for all of us to introspect on our achievements and look forward to future which unfolds many challenges, opportunities and threats to all of us in the Banking Industry, and to work out strategies to encounter the same with courage of conviction. These developments have strengthened our belief in the best things that are yet to be. The past will be the lodestone to our hearts and lodestar to our eyes and the future unfolds with many achievements, successes when all of us move together, with common purpose, with bonds of unity and  solidarity.

Goodbye 2010 and Welcome 2011.  We wish all our Affiliates, Members, Well wishers, a Happy and Prosperous New Year.

With Warm Greetings
Sd/-
(G.D. NADAF)
GENERAL SECRETARY

AIBOC CIRCULAR NO. 167 DATED 30th DECEMBER 2010

AIBOC issued its circular No. 167 dated 30th December 2010 on 2nd option on pension to Exit Option Retirees in Associate Banks of SBI. We are reproducing the same here for our readers.

CIRCULAR NO:167                                     30TH DECEMBER, 2010

TO ALL AFFILIATES/MEMBERS:

2ND OPTION ON PENSION -  “EXIT OPTION” – RETIREES IN ASSOCIATE BANKS OF SBI

The 2nd Option on Pension is not made available to the retirees in Assoicate Banks, who retired under “Exit Option” during 2006 – 2007. The facility is denied, although the “exit” scheme was approved by Govt. of India and which was similar to the special VRS – 2001 extended in the Banking Industry. 

We have today sent a communication to IBA, urging upon them to reconsider the matter and extend the 2nd Option on Pension to the retirees under the said “Exit” scheme, if otherwise they are eligible for the same.  Text of the communication is appended. We will keep you posted of the developments in the matter.

With seasons greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY

No./1452/484/10                                              29.12.2010

To,
The Chairman,
The Indian Banks’ Association,
World Trade Centre Complex,
Centre 1, 6th Floor, Cuffe Parade,
MUMBAI – 400 005.


Dear Sir,
2ND OPTION ON PENSION

One of the terms and conditions of MoU dated 27.04.2010 on 2nd Option on Pension is to offer the Pension Scheme to the existing CPF Optees in Nationalised Banks and Associate Banks, and also those retired after 1995/96. It also covers, CPF Optees under voluntary retirement special scheme of Govt. of India.

In case of Associate Banks, during 2006, State Bank Management, came out with another Special Scheme “Exit Option” with exgratia amount linked to the remaining service of officers with a maximum 36 months salary. This Scheme is in addition to existing voluntary retirement provision under Associate Banks Officers Services Regulations. The Scheme was offered to officers between the age group of 45 and 58 years. The Pension Optees, with 20 years of pensioable service were eligible for pension.  The ‘exit’ scheme was approved by the Govt. of India.

We understand that, for want of clarification from the IBA, 2nd Option on Pension to CPF Optees in Associate Banks, retired under the Special Retirement Scheme “Exit Option” are not extended the offer.  The “Exit Option in Associate Banks is similar to that of Special Voluntary Retirement Scheme of 2001.

The retirees under the said, “Exit Option” who had put in 20 years of pensionable service will be eligible to opt for Pension, under the 2nd Option on Pension.  Hence, we request you to please arrange to issue necessary clarifications to the Associate Banks to extend 2nd Option on Pension to CPF Optees retired under “Exit” Scheme.

With greetings,

Yours sincerely,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY

AIBOC CIRCULAR NO. 166 DATED 28th DECEMBER 2010

AIBOC issued its circular No. 166 on AIBOC Silver Jubilee Celebrations. We are reproducing the same here for our readers.

CIRCULAR NO:166                        28th DECEMBER, 2010

TO ALL AFFILIATES/MEMBERS:

AIBOC SILVER JUBILEE CELEBRATIONS – SOCIAL SERVICE ACTIVITY BY AIBOC, KARNATAKA STATE UNIT
                                                        TEXT

Tumkur is a growing town, seventy kilometers from Bangalore. As we pass through the Picturusque six lane highways, we see rows of rocky hills on either side. We take a deviation at Kyatsandra Village, go into the hills through a winding narrow road and bump into a sleepy hamlet called ‘Kondanayakana Halli”.  Further down is a very small remote village called ‘Ramadevara Betta’. At the foothill is the ‘Shri Shiva Shaikshanika Seva Ashram’ and within the one-acre campus is the Annapoorneshwari School.  It is an Orphanage and a School run on the ancient Gurukul Style, which houses 88 poor students of all ages.

As we enter this screne campus we pass through the positive vibrations created by the environment and the pious nature of Shri. Lepakshappa and his wife Lakshmi Devi who run the Orphanage cum School.

Sri.Lepakshappa.E, who himself was as a boy, a bonded labourer, brought up by good-natured people. He worked as a coolie, doing odd jobs and did his graduation in the evening college. He was a disciple in a religious mutt and served the Guru and the devotees. Later he got the job as a forest guard in the Forest Dept.  He went on to become the General Secretary of the Karnataka State Forest guards Association. Instead of staying in a Bunglow amidst the high echelons of power politics, he chose to buy land and build the Ashram with his own funds. He did not have children. He prayed God blessed him with three. Today in his Ashram, he has eighty-eight Children.  His wife cooks for all the Children. His entire family has dedicated themselves for this orphanage cum school.  It was a pleasure to watch small children, playing happily, brought in a Cultural, religious and disciplined environment.

It was here that the AIBOC, Karnataka State Unit decided to conduct its Silver Jubilee activity.  The entire flooring of the girls dormetory room was redone with granite. The girls and the boys toilet which was in a very bad shape was renovated with granite. The entire cost was more than eighty thousand, which was met by AIBOC, Karnataka State Unit, Central Office AIBOC, and contributions made by the State Affiliates.

Inspired by this, the OMR’s of SBI, Karnataka, (Officers Marketing and Recovery) who wanted to express  their gratitude to the SBIOA(K) and the AISBOF on account of their absorption on a permanent basis, donated 100 steel plates, tumblers and 2 steel push carts to carry the plates, costing around Rs. 40,000/-.

Com.Shankar.N.Joshi, the Zonal Secretary of SBIOA(K) Tumkuar Zone who was instrumental in planning executing the activity welcomed the gathering. Com.B.S.Ravindra, Secretary AIBOC who identified the project and inspired his team in his preliminary remarks congratulated all the comrades who strived to make this programme a success.  He said that this was a pious activity and a god given opportunity for the officers of ‘Banks to give back to the society what they got from it’. 

Later Com.G.D.Nadaf, the General Secretary of AIBOC and AISBOF spoke about the year long Silver Jubilee Celebratons and said that it is in such places that we intend to conduct Social Service activities, as they are the real temples of humanity.  He said that, the child will remember for life, what it has learnt in the formative years of Childhood.  Therefore, these values, which have been imparted by Shri. Lepakshappa will make the Children good citizen and they will give back to the Society in abundance he said. He also said that many amongst these could be great Scientists, Leaders, Doctors and serve the country in the years to come. This activity is wonder gift for Christmas that we can give to the Society he said.

Later Shri.Lepakshappa spoke about the difficulties he faced in bringing the Ashram to this shape and sought help from all the like-minded people in the Society. In a very fluent style, quoting from scriptures and slokas he mesmerised the entire audience, highlighting what a man could do single handedly, if he is determined.

“I asked god for a Child’.  He gave me hundred,” he said amidst tears of joy. Later Shri. Lepakshappa and his wife Lakshmi Devi were honoured for their yeomen service to the society. The function ended with vote of thanks by Smt.Anita Lakshmi SBI, LHO.

The State Unit arranged a sumptuous lunch for the invitees and inmates.

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The programme was ably compered by Shri.Nagaraj Shastry, Treasurer of AIBOC(Karnataka State Unit). Lunch was arranged for all the guests and the Children.  ‘Children are the greatest assets of the Nation’. ‘True education converts a normal child into a Vishwa Manava’. There are many people who work silently, not for name, fame or money, but dedicate themselves and all that they have for the welfare of humanity. Shri.Lepakshappa and his wife belong to that tribe.                                          meaning Anatha or orphans are protected by god. True, God come in the form of a human to serve mankind. His life and tale should inspire all our affiliates to conduct more and more such activities. 

Kudos to the Karnataka State Unit of AIBOC, the Tumkur Unit of SBIOA (K), the OMR’s of SBI, Bangalore Circle and the entire team who made the event a memorable one.

With greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY