Bank Unions

Over the years, the workforce in PSBs has dwindled significantly, creating an unsustainable work environment and compromising the efficiency and reach of these institutions

Bank officers' union AIBOC on Thursday threatened to go on a nationwide strike on February 24-25 to press for their various demands, including a 5-day work week and adequate recruitment in all cadres. Besides, the union has demanded immediate withdrawal of the recent directives of the Department of Financial Services (DFS) on performance review and PLI, which threaten job security and create division amongst employees. It further pitched to fill the post of workmen/officer directors in public sector banks and resolution of pending residual issues with IBA. In a statement, All India Bank Officers' Confederation (AIBOC) said it has been proposed by the executive committee to go for a two-day nationwide strike, tentatively scheduled for February 24-25, 2025. If required, more stringent actions may follow. Agitation programmes will start soon after the notice of the strike is served this month. The union alleged that micro-management of PSBs on policy matters by the DFS undermining th

Additionally, some beneficiaries with defaulted accounts face restrictions that prevent them from accessing benefits, resulting in unrest and even violence at branches

"IBA was positive to our demand and agreed to work out an amicable resolution of this issue at the earliest", AIBEA claimed

Last week, the Reserve Bank of India (RBI) released a framework for lenders governing technical write-offs and compromise settlements, including those classified as fraud or wilful defaulters

If the proposal gets IBA's nod, it will be sent to the finance ministry and subsequently to the Reserve Bank of India's (RBI) for approval

Another round of talks is scheduled to be held on January 31 between the Indian Banks Association (IBA) and the bank unions to iron out the issues

The decision was taken at a meeting of UFBU held in Mumbai on Thursday

Banks notices say normal services could get affected but they are taking action to keep work going

The All India Bank Officers' Confederation (AIBOC) has alleged violation of HR practices by foreign lender Standard Chartered Bank and submitted a detailed memorandum requesting the bank's CEO for immediate remedial measures. The union also alleged that the bank is delaying in recognising Association of Standard Chartered Bank Officers (Kolkata) ASCBO despite several reminders. The right to form association/union is a fundamental right enshrined under Article 19 (1) (C) of the Constitution of India, and any attempt to disavow and thwart the fundamental rights of members of ASCBO will not be condoned by AIBOC, the memorandum said. "The obsolete pay scales and the unsettled service conditions beckons for an overhaul...it is imperative to approve fair and appropriate service conditions for the officers, in consonance with the industrial norms and practices," it said. AIBOC general secretary Soumya Datta urged the management of Standard Chartered Bank to initiate dialogue with the ASCB

Submit charter of demand for wage revision as part of 12th bipartite settlement

The Maharashtra State Bank Employees Federation (MSBEF) on Monday opposed 'loan melas' organised by state-owned banks, saying that credit granted without much diligence at such events lead to pile-up of non-performing assets. Such 'melas' add to the retail Non-Performing Assets (NPAs) for the lenders as the loans are granted without much diligence, MSBEF said in a statement. The statement comes on a day when Union minister of state for finance Bhagwat Karad is attending one such mela in Maharashtra's Aurangabad, where public sector lenders are targeting to distribute Rs 2,900 crore of loans. Stating that past experience suggests borrowers stop repayments for such loans, the MSBEF said, no political party helps in the loan recovery process. "The same political parties demand for waiver of those loans so as to appease voters" during elections, it said, adding that such events vitiate the recovery atmosphere. Public sector banks are put into crisis through NPAs, and the same is used

They say no benefits were seen from previous rounds

As per the agreement with IBA, the negotiation talks on various pending issues would begin on July 1

United Forum of Bank Unions convener Mahesh Mishra on Thursday said the government wants to pass the Banking Reforms Bill in the current session of Parliament, paving the way for privatisation

The All India Bank Officers' Confederation (AlBOC) on Wednesday extended its support to the 'Bharat Bandh' called by Samyukta Kisan Morcha on September 27

Bank unions have asked the finance ministry to initiate measures such as reducing banking days and allowing branches to work with minimum staff to protect employees from coronavirus infection.

The measure was first announced during February policy meet of RBI, but the guidelines were to be issued by March

The finance ministry, in a statement, said all private sector banks can now participate in government-related businesses like collection of taxes, pension payments and small savings schemes

Bank unions on Friday staged protest in all the state capitals