AIBOC CIRCULAR NO. 59 DATED 10.05.2010

AIBOC issued its circular No. 59 on 9^th Bipartite Settlement implementation. We are reproducing the same here for our readers.

CIRCULAR NO.59                     10.05.2010

TO ALL AFFILIATES/MEMBERS:

9^TH BIPARTITE SETTLEMENT – IMPLEMENTATION ETC

The 9^th Bipartite was signed on 27^th April 2010.  There have been a series of meetings and grand gala celebrations all over the country over the success of the bipartite which is one of the major mile stone in our bipartite relations with the Indian Banks association. It is also a historic achievement as far as securing the 2^nd Option on Pension. There have been a number of enquiries as to the implementation of the settlement and also expectations from the rank and file across the country that they would be able to draw the revised salary from the next month as such. The process of getting the agreement vetted by the Government for the purpose of amendments to our regulation was a long drawn procedure in the earlier days.  However, over a period of time we have been able to reduce the delay and see that the in principle clearance is available for the implementation pending the amendments to the regulation of our service rules. 

While appreciating the anxiety of the members across the country, we would only like to assure them that the implementation of the 9^th bipartite is not going to be delayed at all and it will take place within the next few days.   The leadership of the Confederation is in constant touch with the Indian Banks’ association and our information reveal that the officials of IBA are on their job of obtaining necessary instructions from the Government for the implementation of the salary revision and payment of acturial arrears on adhoc basis at the earliest possible.

The next task would be to commence the process of implementation of the 2^nd Option on Pension. Comprehensive instructions are being issued to all the banks to speed up the process of obtaining the option and giving effect to the scheme without further delay.

Comrades, we have covered a long distance and it is now only a matter of few days before the 9th bipartite along with the 2nd Option on Pension in the Banking Industry is implemented.  Let us look forward to cherish the historic moment.

With greetings,

Sd/-

(G.D. NADAF)

GENERAL SECRETARY