20/12/2016
ALL INDIA BANK OFFICERS’ CONFEDERATION
(Registered under the Trade Unions Act 1926, Registration No.:3427/Delhi)
C/o Bank of India, Parliament Street Branch
PTI Building, 4, Parliament Street, New Delhi:110001
Phone:011-23730096 Tel/Fax 23719431
E-Mail: [email protected]
Letter No. 2016/180 Date: 25/11/2016
The Chairman,
Indian Banks’ Association,
Mumbai.
Respected Sir,
DECISION OF DEMONETIZATION – THE EXEMPLARY JOB DONE BY
BANK OFFICERS AND EMPLOYEES
NEED TO REVIEW THE ISSUE OF COMPENSATION
At the outset, we convey our sincere thanks and gratitude to IBA, the
representative body of Banks, for recognition of hardships and inconveniences
faced by the Bank Officers and Employees and appreciations showered on them
for the excellent performance in the operational work aftermath of the decision of
the Government to demonetize the high denomination currency notes. It is a
known fact that the entire work force, including those working in Administrative
Offices, was shifted to branches for successful implementation of the decision.
Our Officers wholeheartedly came up to the expectations by toiling hard, even
overnight for many days including working on 12th and 13th November, 2016
which were otherwise holidays. In some States, even the notified holidays were
also cancelled. The position of Officers working in Currency Chests and Branches
attached to them has been the worst.
Though we draw the satisfaction that our Officers worked beyond their capacities
without making any pre-condition for due compensation, it is in the fitness of
things that Management considers to compensate the extra ordinary burden
shouldered by the supervisory cadre so amicably. Award Staff has been paid
200% of the wages as overtime as per the Settlement not only for coming on
holidays but also for late sitting. Many bank managements decided to pay
compensation of Rs.3000/- to Officers for coming on holidays, whereas State
Bank of India and its Associates are paying Rs.6000/- for the same. SBI
management even decided to pay Rs.3000/- per day for late sitting on working
days also. Some other banks also decided to compensate Officers for late sitting
in their banks. We really appreciate the goodwill gesture of the Managements of
these Banks. But the variance in compensation to Officers of other banks is not
only against the principles of ‘equal work equal pay’ but is leading to
dissatisfaction amongst the Officers working in the member banks of IBA.
We would also like to submit that Officers, who are supervisory staff, should
under no situation, be treated as inferior to the workmen working under them
and their compensation amount should not be less than 200% of overtime being
paid to the senior most clerical staff. We, therefore, request you to review your
earlier stand with regard to compensation for late sitting and working on Sundays
and Holidays and advise all the member banks to compensate Officers on the
basis of request made as above. We strongly feel that your kind view on the issue
will enhance the morale of the Officers who have worked hard despite all
constraints even at the cost of their health. Your favourable decision in this regard
will also go a long way in increasing the productivity in the banking industry
needed for continuity of the process of demonetization and steps required to be
taken by the banking industry with regard to deployment of funds etc. Needless
to say that removing discrimination should be the primary objective of any
Management for creating healthy working environment for the precious human
assets of any organisation.
Looking forward for a prompt and justified action in this regard.
With regards,
Faithfully yours,
(HARVINDER SINGH)
GENERAL SECRETARY
