ECONOMIC DEVELOPMENTS

1. Economic Indicators

India's economy has emerged from the global crisis remarkably unscathed and much stronger than many other countries. From 6.7 per cent in 2008-09, India's final real GDP growth for 2009-10 may settle between 7.2 and 7.5 per cent -rates well above those seen in the developed world, reflecting the underlying strengths of Indian economy. Clocking 7 per cent plus growth in these difficult times and despite the worst south-west monsoon since 1972, is no mean achievement.

As per the Reserve Bank, the total flow of financial resources from banks, domestic non-bank and external sources to the commercial sector during 2009-10 at `9,71,000 crore was 16 percent higher than in the previous year ( `8,34,000 crore).

2. Some recent RBI's policy guidelines for Banks

• Payment of interest on savings bank accounts has to be made by banks on a daily product basis with effect from April 1, 2010.
• Banks are now permitted to offer mobile banking transactions to their customers subject to a daily cap of `50.000/- per customer for both funds transfer and transactions involving purchase of goods/services.
• With a view to enhance the soundness of individual banks, as also the stability of the financial sector, it has been decided that banks should augment their provisioning cushions consisting of specific provisions against NPAs as well as floating provisions. They should ensure that their total provisioning coverage ratio, including floating provisions, is not less than 70 per cent not later than end-September 2010.
• From July 1, 2010 the existing benchmark prime lending regime was replaced with base rate below which no bank can lend. Banks will have the freedom to decide the methodology to arrive at their respective base rates provided it was consistent and was made available for supervisory review/scrutiny, as and when required. Banks have been given leeway up to December-end to change and fine tune the benchmark and methodology for computing the base rate.

3. RBI   Projections in the Annual Policy Statement for 2010-11

• Money supply (M3) growth for 2010-11 placed at 17.0 per cent.
• Aggregate deposits of scheduled commercial banks(SCBs) projected to grow by 18.0 percent.
• The growth in non-food credit of SCBs is placed at 20.0 per cent.

4. Steps announced by RBI in its Annual Policy Statement for the Year 2010-11

• Repo Rate raised from 5 % to 5.25% and Reverse Repo Rate raised from 3.50% to 3.75 %. Bank rate retained at 6.0%.
• CRR raised by 25 bps from 5.75 to 6.00 percent w.e.f. 24.04.2010. This will suck out `12,500 crore liquidity.

5. Union Budget for 2010-11

The Union Budget for 2010-11 has laid down a roadmap for fiscal consolidation by budgeting lower fiscal deficit (5.5 per cent of GDP in 2010-11 as compared with 6.7 per cent in 2009-10) and revenue deficit (4.0 per cent of GDP in 2010-11 as compared with 5.3 per cent in 2009-10). Among other things it included an explicit statement on reduction of Government debt, timelines for implementation of Direct Tax Code (DTC) and Goods and Services Tax (GST).

(i)  Proposals relating to Banking Sector
In the Union Budget for 2010-11, important proposals relating to the Banking sector are:

• RBI to consider giving some additional banking licences to Private Sector Players. Non Banking Financial Companies could also be considered if they meet RBI's eligibility criteria.
• Govt. to provide `16,500 crore to recapitalise select Public Sector Banks to help them attain 8% Tier-I capital by 31.3.2011.
• Govt. to provide additional capital to RRBs to support increased lending to the rural sector.
• Setting up of Apex level Financial Stability & Development Council to strengthen Regulatory framework for the Financial Sector.
• Increase in interest subvention from 1% to 2% for timely repayment of crop loans by farmers.
• Extension of debt waiver and debt relief scheme for farmers by six months to June 30, 2010.
• Providing appropriate banking facilities to habitations having population in excess of 2,000 by March 2012.

(ii)  Proposal relating to Income Tax 
Income up to ` 1.6 lakh - nil
Income above ` 1.6 lakh and up to ` 5 lakh - 10 per cent
Income above ` 5 lakh and up to ` 8 lakh - 20 per cent
Income above ` 8 lakh - 30 per cent.
Income Tax department ready with two-page Saral-2 return forms for individual salaried assesses.
New tax rates would offer relief to 60 per cent of tax-payers.

6. Direct Tax Code

The cabinet has cleared the Direct Tax Code bill and it is likely to be tabled during the monsoon / winter session of Parliament.

The new provisions under the Direct Tax Code are reportedly as follows:

• Tax for income between ` 2 lakh – ` 5 lakh: 10%
• Tax for income between ` 5 lakh – ` 10 lakh: 20%
• Tax for income over ` 10 lakh: 30%
• Corporate tax has been kept at 30%.

The limit for exemptions for salaried people is ` 2 lakh, while that for senior citizens is ` 2.5 lakh.

The new Direct Tax Code comes into effect from April, 2011.
As of now, it is proposed to provide the EEE (Exempt-Exempt-Exempt) method of taxation for Government Provident Fund (GPF), Public Provident Fund (PPF) and Recognised Provident Funds (RPF).

7. Inflation

Apart from the deficient south-west monsoon putting pressure on food prices, the firming up of global commodity prices and incipient demand side pressures, led to acceleration in the overall inflation rate-both of the WPI and the CPIs. Some of the major factors that contributed to WPI inflation were : (a) enhancement of excise duty and restoration of the basic customs duty on crude petroleum and petroleum products, and (b) the increase in prices of iron ore and coal. Inflation in non-food manufactured products which were -0.4 per cent in November 2009 turned positive and reached 4.7 per cent in March 2010.
The three main challenges before RBI are: (1) managing inflation; (2) management of large government borrowings in FY 10-11; and (3) modulating the pace of exit of government stimuli while remaining supportive of growth impulses.  

8. New Symbol for Indian Rupee

The Indian rupee has got a unique symbol based on the tricolour, with two lines at the top and white space in between a blend of the Devanagri 'Ra' and Roman 'R'  - joining elite currencies like the US dollar, euro, British pound and Japanese yen in having a distinct identity.

Though the symbol will not be printed or embossed on currency notes or coins as in case of pound sterling, it would be included in the 'Unicode Standard' and major scripts of the world to ensure that it is easily displayed and printed in the electronic and print media. Along with reflecting the Indian ethos and culture, it would help distinguish the currency from the rupee or rupiah of other countries like Pakistan, Nepal, Sri Lanka and Indonesia.

9. Khandelwal Committee Recommendations

Government of India constituted a Committee on HR issues in Public Sector Banks comprising    Shri A K Khandelwal, former Chairman and MD, Bank of Baroda, MV Nair, Chairman and MD, Union Bank of India, Deepak B Phatak of IIT Bombay and T V Rao of IIM Ahmedabad. The Committee has submitted its report to the Government. Although the report is not available in public domain, but the Committee has reportedly made the following recommendations.

• To outsource all non-core jobs
• Qualification for recruitment : Clerks : Graduation/For Sub-staff: 10th Std.
• Fresh recruitments to be only in Rural and Semi-urban areas
• Bank wise wage revision based on capacity to pay, profitability, productivity etc.
• Introduction of variable pay as a major component of wages
• Introduction of cost to company concept
• Review of all internal settlements on mobility and transfer of employees
• HR Professionals to be recruited at senior/junior level
• HR administration to be automated through web based system

• Appoint 3rd ED for HRD in Banks with business over `3 lakh crore and 30,000 staff.
• Have HR audit in Banks every two years.
• Performance appraisal for Chief Managers and above (Scale-IV and above)
• Separate post of Chairman and Managing Director.
• Mandatory rural service for Officers to continue.
• No change proposed to retirement age for Bank staff
• 3 percent of net profit to be allocated for staff welfare; 25 percent of welfare should go to the retired.
• Committee approach for sanctioning large credits
• 50 percent direct recruitment for officers cadre.
• Maharatna for SBI: introduce Maharatna, Navratna and Mini-ratna scheme for Banks.
• Award ESOPs to 15% top performers.

Both UFBU and AIBOC have opposed the recommendations of Khandelwal Committee.

FEDERATION NEWS

7th Triennial Conference of Federation

The 7th Triennial Conference of All India UCO Bank Officers’ Federation was held at Hyderabad on 14th, 15th & 16th November, 2009. Under the backdrop of current global meltdown, 4-decades of bank nationalisation & contribution of public sector banks to nation building as well as efforts of the government to push through its reforms agenda, this Conference could assume a serious dimension and magnitude.

1. The Inaugural Session

The Inaugural Session was held in Hotel Select Manohar, Hyderabad on 14th November 2009. Among other dignitaries and guests, Shri K Rosaiah, Hon’ble Chief Minister, Andhra Pradesh Shri S K Goel, Chairman & Managing Director, UCO Bank, Shri V K Dhingra, Executive Director, UCO Bank, Com. K D Khera, Chairman, AINBOF, Advisor, AIBOC & General Secretary, All India Punjab National Bank Officers’ Association and  Com. K S Shetty, General Secretary, AINBOF and President, AIBOC attended the Open Session. Other notables present in the Session were most of the Directors of UCO Bank’s Board, large number of Executives including the Field General Manager, Chennai, General Manager, PSD, General Manager, Flagship Corporate Department, Zonal Manager, Hyderabad, most of the retired functionaries of Federation and its affiliates, retired Executives and Officers of the Bank, leaders of the fraternal organisations, the Delegates & Observers from all over the country and members of Media. The Inaugural Session wore a festive look due to presence of large number of distinguished dignitaries and guests as stated above as well as large number of our members in jubilant and exhilarating mood.

Comrade P S Moorthy, Chairman, Reception Committee and former functionary of our Federation delivered the welcome address.

The students of “Prerna”, a school for mentally challenged children, recited the inaugural song in a fascinating manner. Com. S Roy Choudhury, General Secretary, AIUCBOF, on behalf of Federation, handed over a cheque of ` 30,000/- to the “Prerna” for the cause of Special Children.
 
Inspite of his very busy and tight schedule, Shri K Rosaiah, Hon’ble Chief Minister, Andhra Pradesh, inaugurated the Conference by lighting lamp. After formal inauguration of the Conference by Shri K Rosaiah and other distinguished dignitaries, Shri Rosaiah delivered his inaugural address in an immaculate and lucid manner. He appreciated the Federation for its role-play during last 45-years journey with special reference to social works undertaken by Federation. He also appreciated the performance of UCO Bank. It was really motivating and encouraging to see Shri Rosaiah remained present on the dais and singing the national anthem till conclusion of the Open Session.

Com. S Roy Choudhury, General Secretary, AIUCBOF, on behalf of our Andhra Pradesh Unit, handed over a cheque of Rs.2,00,000/- (Rupees Two Lacs) only to Shri Rosaiah for the relief and rehabilitation of flood victims of Andhra Pradesh. The amount was the contribution of our members of Andhra Pradesh Unit to Chief Minister’s Relief Fund.

Shri S K Goel, Chairman & Managing Director, UCO Bank and Chief Guest of the function, appreciated Federation for their pro-active role-play for the growth and development of the bank as AIUCBOF, time and again, issued circulars requesting members to plunge into action for mobilisation of CASA, NPA recovery etc. He requested the officers and employees of the bank to give special emphasise on mobilisation of CASA and NPA recovery. He stated that unless matching profit is earned by the bank, all demands of the officers and employees can not be met.

Shri V K Dhingra, Executive Director and Guest of Honour of the function, deliberated on various aspects of banking and exerted special stress on credit monitoring and customer service.

Comrade K D Khera, Chairman, AINBOF, Advisor, AIBOC & General Secretary, All India Punjab National Bank Officers’ Association and Guest of Honour of the function spoke in his usual cogent manner. He said that there is serious salary and perks discrimination between the officers of PSBs and private banks and glaring discriminations also amongst state sector banks. He spoke on certain important issues including 2nd option for pension and wage revision which have remained unresolved since long.

Com. K S Shetty, General Secretary, AINBOF and President, AIBOC and Key-Note speaker of the function, spoke in detail about wage revision, 2nd option for pension etc., the issues that are tormenting the employees and officers of public sector banks. He also stated the difficulties and constraints being faced by UFBU to clinch wage revision and 2nd option for pension. He assured the House that hopefully wage revision and 2nd option for pension shall be resolved soon.

Com. K Ramakotesar Rao, working President, AINBOF and General Secretary, All India Andhra Bank Officers’ Federation and Com. K Vijhyan, General Secretary, All India UCO bank Employees’ Federation conveyed their good wishes on this occasion.

Com. N Vinod Kumar, Senior Vice-President of Federation proposed vote of thanks.
 
Com. J C Shandil, President of our Federation presided over the Open Session.

2. The Delegate Session        
                                   
The Delegate Session of 7th Triennial Conference of AIUCBOF was held in Hotel Select Manohar, Hyderabad on 15th & 16th November 2009.

The General Secretary, AIUCBOF, placed his report before the House for the triennial period 2006-09 covering international, national and banking scenario; both industry and bank level. He also covered in detail the developments at Confederation, our Bank and our Federation level. He attached importance to the attacks on bank officers, their struggles, indifferent attitude of the bank management leading to conflicts and deterioration in bilateral relation. He presented changes  on the anvil in  detail  so  as  to  prepare  our  comrades  to  adapt  and  face  the  same.             
                                                                                                                                   
Regarding Task Ahead, he stressed the need for Trade Unions to become very strong and confident. He urged upon the Delegates and Observers to plunge into social welfare activities and utilise their official position as a weapon of poverty alleviation to enable us to win the confidence of the common people.
                                                                                                                         
43 Delegates & Observers deliberated on General Secretary’s report on various topics and put forth some useful suggestions for the incoming committee. Thereafter, the General Secretary’s report was adopted by the House unanimously.

Com. Alok Das, Treasurer, AIUCBOF placed audited statements of accounts for triennial period, which were also adopted unanimously.

The Amendments to the Constitution and 18 Resolutions were also adopted unanimously. Among the amendments adopted by the House, the important amendment was granting of affiliation to AIBOC affiliated Officers’ Associations of Regional Rural Banks sponsored by UCO Bank by Federation.

On second day of the Delegate Session, the Election Commission to elect Office Bearers of Federation for the term 2009-12 was constituted with Com. S K Jain of Madhya Pradesh, Com. U C Baruah of NER and Com. Chinmoy Mukherjee of West Bengal.

Com. N Srinivasan, a Delegate of Tamil Nadu proposed the following panel of Office Bearers seconded by Com. N L Bharti, a Delegate of Haryana. As there was no other panel or contestant, the entire panel as proposed by Com. Srinivasan and seconded by Com. Bharti was declared elected by the Election Commission for the term 2009-12.

3. S D Parelkar Memorial Lecture

For the first time in the history of Federation, a part of 16th November 2009 i.e. the 3rd day of the Conference was dedicated to the memory of Com. S D Parelkar, the former General Secretary and President of our Federation as well as first Officer Director nominated by our Federation on Bank’s Board who expired on 28.6.2009. Accordingly, “S D Parelkar Memorial Lecture on 4-Decades of Bank Nationalisation: Contribution to Nation Building” was held on November 16, 2009.

Com. K D Khera, Chairman, AINBOF and General Secretary, AIPNBOA and Professor V B Athreya, noted economist delivered lectures on the occasion.

Com. R Vaidyanathan, Joint General Secretary, AIUCBOF delivered the welcome address.

Com. Khera spoke in detail in his immaculate style about objectives of bank nationalisation and achievements made so far.

Professor Athreya delivered a mind blowing lecture, which could mesmerise the entire House. He covered global meltdown, its causes and impact, the importance of presence of strong state sector banks and other PSUs. The doctrine of dilution of equity of state owned banks and other organisations in the name of giving right to every citizen of the country to acquire share in such organisations is misleading. According to Dr. Athreya, every citizen of the country is the owner of any state owned organisation. He criticised giving of money to corporate houses in the name of incentives by government. Dr. Athreya highlighted the alarming feature of considerable reduction in rural lending after reforms were introduced in 1991. He emphasised the necessity of participation of officers’ organisations in credit policy and other policy making at national level. Thereafter, professor Athreya had an inter-active session with the participants.

Com. S Roy Choudhury, General Secretary, AIUCBOF also spoke on the occasion.

Comrade J C Shandil, President, AIUCBOF presided over the function.

Maiden Secretariat Meeting of Federation
at Ahmedabad ON 25.1.2010

The Maiden Meeting of the Secretariat of Federation was held at Ahmedabad on January 25, 2010. The Office Bearers discussed, among other matter, the formation of various committees of Federation and also allotment of functional areas under Office Bearers for smooth and effective functioning of Federation during the current term. After detailed discussion, the committees of Federation were formed and operational areas were allotted to Office Bearers as noted hereunder.

I. Committees of Federation
1. Committee for Preliminary Negotiation (Small Committee)

2. Committee for Negotiation

3. Committee on Perquisites

4. Committee on Disciplinary Matter

5. Committee on Manpower & Recruitment

6. Committee on Formation of Educational Institution

II. Allotment of Operational Areas

(i) Deputy General Secretaries

(ii) Organising Secretaries

7. Co-options to the Secretariat & Executive Committee of Federation

The following functionaries of state affiliates of Federation were co-opted to the Secretariat and Executive Committee of Federation due to vacancy arising and in terms of provisions of Constitution of Federation:

I. Co-option to the Secretariat of Federation   

Com. R K Nagpal, President of our Delhi Unit was co-opted as Assistant General Secretary in place of Com. R K Gupta, since relinquished his post.

II. Co-options to the Executive Committee of Federation

1. In terms of Article 6.6 (b) of the Constitution of Federation, the following comrades were    co-opted as Resource Persons to the Executive Committee of Federation:

Com. C R P Haran, Associate Member, West Bengal and Secretary, AIUCBOF Welfare & Benevolent Trust.
Com. D V Ashok, ex. Organising Secretary, AIUCBOF.
Com. Chinmoy Mukherjee, Vice-President of our West Bengal Unit.

2. In terms of Article 6.6 (c) of the Constitution of Federation, the following lady comrade was co-opted as Lady Representative to the Executive Committee of Federation:

Com. Anjelina Oriya, Deputy General Secretary of our Jharkhand Unit.

3. In terms of Article 6.6 (d) of the Constitution of Federation, the following comrades were    co-opted as Retired Associate Members to the Executive Committee of Federation:

Com. U C Baruah, President of our North Easter Region Unit and Com. P N Mehta, Chairman of our Gujarat Unit.

8. Organisational Action Programme

The Office Bearers of Federation who met in their maiden Secretariat Meeting at Ahmedabad on January 25, 2010 discussed at length the status of our IR issues vis-à-vis bank’s attitude to resolve our issues. They expressed anguish and resentment as our IR issues continue to remain unresolved due to abject neglect and indifferent attitude of bank towards our issues. It was observed that all efforts of Federation to resolve our issues through bilateral mechanism failed to yield positive result due to recalcitrant and apathetic mindset of bank to our issues. They also took note of the decision of our 7th Triennial Conference held at Hyderabad from November 14 to 16, 2009 i.e. “Federation should approach Chairman & Managing Director once more requesting for immediate resolution and implementation of our IR issues and thereafter, if the issues are not resolved and implemented within a reasonable time-frame, Federation should resort to organisational action programme, the consequences of which shall rest on the Bank only”. It was reported in the meeting that the General Secretary of Federation along with Com. J C Shandil, President met Chairman & Managing Director on January 14, 2010 in person and handed over a letter communicating the said decision of our 7th Triennial Conference.

After detailed deliberation on the subject, the Office Bearers felt that it has become a compulsive situation for Federation to resolve its IR issues through organisational action programmes as recourse to bilateral mechanism could not produce fruitful results. The Office Bearers authorised the Action Committee of Federation to finalise organisational action programmes.

The Action Committee of Federation, which met at Kolkata on February 3, 2010 finalised the following organisational action programmes for implementation by the Units

1. Units to hold EC Meetings, Cluster Meetings and branch visits  upto 15.2.2010 to
    prepare the members.

2. Executive Committee Level Deputation along with local members by the Units from
    8.2.2010 to 13.2.2010 before the Zonal Managers and submission of Memorandum on
    the following dates as mentioned against the names of Zones. (Memorandum to be sent
    to Units by Central Office and Units to print the same in their letter head)

3. From 15.2.2010 onwards:

1. No Late Sitting in Administrative Offices.
2. No work on Sundays & Holidays.
3. No clerical work to be performed by Members in all Branches and Offices.

4. Badge Wearing by all members from 1.3.2010 onwards : Sample Badge to be sent to
    Units by Central Office and Units to print Badges. 

5. Posters on Agitation : Sample Poster to be sent to Units by Central Office and Units
    shall print the same in adequate numbers for distribution.

6. Strike by Members from 3.3.2010 upto 25.3.2010 on different dates as mentioned
    below against the names of State Units.
 

7. Reporting, Supervision & Monitoring of Agitation : The Agitation shall be closely monitored by the Deputy General Secretary in-charge of State Units along with the Organising Secretary in-charge. The State Units shall submit reports on daily basis on organisational action programme to the Deputy General Secretary in-charge of their State Units. The Deputy General Secretary in-charge, in turn, shall submit reports on daily basis to the Central Office on organisational action programme for the State Units under their jurisdiction.

In case of any difficulty or assistance, the State units shall contact the Deputy General Secretary in-charge and Organising Secretary in-charge of their State Units.

The Units and members implemented meticulously all the organizational programmes of Federation.

8. Intervention of Deputy Chief Labour Commissioner (Central) : Conciliation Meeting

As a statutory requirement Federation served strike notice to Bank with copies to Labour Department. The Deputy Chief Labour Commissioner (Central) convened a Conciliation Meeting between Bank and our Federation at Kolkata on 15.2.2010. In the said meeting, Bank agreed to resolve our pending issues meaningfully and fixed a tentative date for IRM on 16th & 17th March 2010. Consequently, Federation kept its on-going organizational action programme in abeyance.

9. IRM on 16th & 17th March 2010

The IRM was held in a congenial atmosphere. Bank agreed to address our following issues having financial implications.

1. Festival Advance: The upper limit of Festival Advance increased from Rs.10,000/- to Rs.20,000/-.
2. Revision of scheme of Leasehold Accommodation to Officers : Rental Ceiling for Leasehold accommodation to officers increased by 15% on the rates applicable for 7 metropolitan centres, namely, Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata and Mumbai.
3. Restoration of pre-gulf war petrol limit : Monthly petrol limit increased by 15%.
4. Increase in ceiling of lumpsum reimbursement of conveyance expenses : Monthly ceiling of Lumpsum reimbursement increased by 25% under both Scheme “A” & “B”
5. Review of telephone Reimbursement Scheme: Monthly limit in telephone reimbursement for all Branch Heads in Scale-III, II & I and Officers in MMGS-III increased by 25%. LDMs were brought within the ambit of telephone reimbursement scheme.
6. Scheme for Furniture & Fixtures to be provided to the Officers : The monthly limit for furniture & fixtures increased by 25% over the existing ceiling.

Bank assured to discuss and negotiate other issues within a given time-frame.

Two more issues which Federation had taken up in the IRM of 16th & 17th March 2010 could be resolved partially after prolonged persuasion. These are:

1. Payment of regular salary & allowances as per OSR to the directly recruited officers of 2009 & 2010 batch instead of monthly stipendiary allowance : Bank agreed to pay them regular salary and allowances as per OSR w.e.f. 1.9.2010.
2. Payment of additional increments for passing Part I/II of CAIIB examination to the officers who were laterally recruited in Bank in Scale-II and above and who passed their CAIIB examination in their erstwhile employment : Bank agreed to grant additional increments to them w.e.f. 1.10.2010.

Bank issued necessary circulars for implementation of the above decisions.

Unfortunately, other than above issues, Bank did not adhere to its commitments.

10. IRM on 27th October 2010

Another IRM was held on 27th October 2010, which did not yield any result due to Management mindset and paucity of time.

11. Withdrawal of Check-off facility to Unregistered Unions/Associations

Another important development from organizational point of view that has taken place during the current term is withdrawal of check-off facility to unregistered Unions/Associations. After prolonged persuasion, Federation could impress upon Bank to implement directives of Government and IBA to the effect that unregistered Unions/Associations are not entitled to check-off facility. Bank’s Board approved implementation of Government & IBA directives. It took Bank more than 7 months time to implement it from the month of September 2010.

After implementation of Board’s directives, affiliates of AIBOA has lost check-off facility in 20 Zones, namely, Hyderabad, Bhagalpur, Begusarai, Chandigarh, New Delhi, Ranchi, Ahmedabad, Dharamsala, Shimla, Bangalore, Bhopal, Indore, Nagpur, Jalandhar, Lucknow, Head Office, Kolkata, Howrah, Suri and Salt Lake.

Affiliates of INBOC have lost check-off facility in Meerut and Varanasi.

All affiliated state units of Federation are registered and hence, directives of Board could not cause any destabilization in our Organization.

Secretariat Meeting of Federation at KOLKATA ON 19.4.2010

The Secretariat of Federation met at Kolkata on 19.4.2010. The following important decisions were taken in the meeting.

1. Office Bearers to send any suggestion/grievances/sentiments in regard to wage settlement for onward submission to AIBOC by Federation.

2. State Unit of Karnataka, Tamil Nadu, Maharastra, Delhi & West Bengal to collect information on IR Policy of the various Banks having Head Quarters under their jurisdiction and send the same to Federation immediately.  

3. Federation to write to Bank requesting to send the names of officers to Zones who have been identified for repatriation so that these officers can admit their children in school in their domicile/parent zones, vacate lease accommodation in time etc.

4. Fraudulent transaction in Federation Account : General Secretary empowered by the House to initiate necessary steps in this regard in consultation with President.

5. Strengthening of 3 weak Units viz. Delhi, Orissa & Bihar : Adoption of these Units by specific Office Bearers of Federation.

Allotment :

1. Delhi : Com. G N Srivasava, DGS
2. Orissa : To be decided by General Secretary
3. Bihar :  To be decided by General Secretary

6. Fixation of Levy on account of Wage Revision : Federation levy was fixed at Rs.700/- per member.

7. Formation of Representative Body of Pensioners at State Level and Apex Level : Federation and its affiliates to extend all support including financial help to such body.

1.   Election of our choice candidate as Shareholders’ Director on Bank’s Board : All out efforts should be made in this regard.

Federation has already acted on most of the action points as stated above.

Secretariat Meeting of Federation at KOLKATA ON 25.7.2010

The Secretariat of Federation met at Kolkata on 25.7.2010. The following important decisions were taken in the meeting.

1. Brain Storming Session for Office Bearers of Federation.
2. Raising of merger issue in AIBOC by our Federation as well as by Com. S Pal on behalf of RRBs.
3. Units to send suggestions on review of Transfer Policy within a time-frame of one month.
4. Holding of Zonal Level IRMs for the half-year July to December 2010. Units should send their issues to Federation and Federation shall identify some common issues for IRMs.
5. State Units to issue a comprehensive circular to be prepared by Central Office on continuance of retired Office Bearers.
6. Registration of Units vis-à-vis check off facility : Units to address suitable letter to Zonal Managers and Federation to address a letter to Head Office.
7. National Register of Officers: Units to submit 2 separate list of officers to Federation within one month. The first list should contain details of our members including disciplinary proceedings and second list should contain details of members of minority unions including disciplinary proceedings.
8. Federation to address a letter to CMD on extension of facilities available in sponsor bank to all sponsored RRBs.
9. Formation of Pensioners’ Association: Immediate action by Federation and Units.
10. Formation of Educational Trust : The Sub-committee to take immediate steps to form the Trust. The meeting of the Sub-committee in Kerala rescheduled in August 2010.
11. Issues of Units to be routed through the General Secretaries of State Units only.
12. Next EC Meeting of Federation scheduled on 27.9.2010: Notice already issued.
13. Collection of Levy and Remittance to Federation : All Units to complete the process by 15.8.2010.
14. Nomination of Officer Director on Bank’s Board : 3 names in order of preference 

      already sent to Bank.

Federation has already acted on most of the action points as stated above.

EXECUTIVE COMMITTEE Meeting of Federation at CHENNAI ON 27.9.2010

The Executive Committee of Federation met at Chennai on 27.9.2010. The following important decisions were taken in the meeting.

1. A Resolution adopted at the E C Meeting at Chennai concerning the feelings of the members on the issues of Kandelwal Committee report and opposing the report in totality.

1. In the line of AI-Power programme of AIBOC held at “Nature” of SBI Federation, our Federation will hold “Leadership Development Programme”.

1. Resolution adopted at the E C Meeting at Chennai concerning the feelings /grievances of the members on improvement of Family Pension & Revision of Regular Pension.

1. The Office Bearers who have not submitted their views/opinion on Branch Transformation should submit the same to Federation within next 15 days.

1.  On Preventive Vigilance and undue interference of Vigilance Department, Federation will issue necessary circular highlighting the Rule Book Financing. Federation will also write letter to Management on the subject.

1. The functionaries of the State Units should organize Managers’ Meeting immediately to sensitize our members for making advances vis-à-vis business development for reaching the bank’s target keeping in mind the possible danger on account of the undue interference of the Vigilance Dept as well as the higher Management in assessing the staff accountability.

1.  Regarding Manpower & Recruitment, the State Units should submit their consolidated views on the subject to within next 30 days.

1. All Units should complete the Zonal level IRMs for the current half-year. Concerned DGS and Organising Secretary will be in touch for such holding of IRM.

1. In order to arrest the desperate attempt of AIBOA for necessary registration for their check off facility in the States where they are having membership of less than 10% or 100 numbers, concerned  General Secretary should be in touch with the Registrar’s Office with the letter(Draft letter already with them), restraining necessary registration. Concerned DGS/Organising Secretary will be in touch for the purpose.

1. Undue interference in the officer matter by Mr. Ram Avatar Sharma, Award Staff Director in Rajasthan should be vividly opposed by our Rajasthan Unit within next 15 days.

1. Check off postion (BS-17) should be thoroughly followed up by the respective Regional Secretary with the Zonal Office before submission to HO and necessary report should reach with reconciliation with the actual strength within 20th Oct 2010. While reconciling, respective Regional Secretary should be cautious about the unions/members loosing their check off facility as per direction of HO, PSD.

1. EC authorized the Officer Bearers to select the Delegates Observers in the next OB meeting for participation the ensuing AIBOC Conference.

1. Federation will try to schedule the next IRM with Management before 14th Oct 2010.

1. Federation will issue necessary circular highlighting the settlement of pending IR issues advising launching of deputation at Zonal level and initiate some form of agitation.

1. Federation will issue necessary circular on the Password and its undue passing to other functionaries of Branch inviting danger. At the same time proper notice will be given to Management.

1. Formation of State level Pensioners’ Association by the State Unit as facilitator should be completed within 30th Oct’2010.

1. Mr. N. Vinod Kumar, Senior Vice-President will attend the Presidents’ Conclave of AIBOC scheduled to be held at Sehore, Bhopal on 4th & 5th October 2010.

1. For selection of Bank’s Holiday Home as per requirement of Staff Welfare Committee, the WB & HP Units are advised to provide particulars of Hotel at Gangtok & Shimla respectively.

1. Federation shall organize training programmes for Defense Counsels.

1. Federation’s Committee on Disciplinary matter shall meet shortly.

1. Federation’s Committee on formation of Educational Institutes shall meet shortly.

1. Units should send their suggestions/views on Transfer Policy within 30 days time.

1. Units should send their suggestions/views on Promotion Policy.

1. The Committee on Perquisites to obtain fresh data from peer banks and meet.

1. Federation to nominate its candidate to contest in the ensuing shareholder director’s election.

Federation has already acted on most of the action points as stated above.

SMALL COMMITTEE Meeting of Federation at mUMBAI ON 23.11.2010

The Small Committee of Federation met in an emergent meeting at Mumbai on 23rd November 2010. The following important decisions were taken in the meeting.

1. Immediate uploading of correct credit related information in CBS System by branches on emergent footing. The following are the action points to be implemented by Units and members in this regard:

1. Four Units viz. Himachal Pradesh, Tamil Nadu, West Bengal and Maharashtra shall take steps to complete documentation of all loan documents of all branches under their State Units as pilot projects with immediate effect.

2. The remaining Units shall start implementing the programme from 01.12.2010.

3. All loan documents of all branches of the Bank should be complete in all respect within 31.12.2010.

4. Since it is for the safety and interest of Bank and its officers, Federation shall request Bank to extend necessary support for successful implementation and completion of the programme within 31.12.2010.

5. Respective State General Secretaries shall send branch-wise compliance report on day-to-day basis to their respective Organising Secretaries-in-charges and Deputy General Secretaries-in-charges, who would, in turn, report to the Central Office.

1. The Organising Secretaries and Deputy General Secretaries would closely monitor implementation of the programme in the states under their jurisdiction.

II.  Allotment of Area of Operation among Joint General Secretaries of AIUCBOF

The Small Committee allotted the following area of operation among the Joint General Secretaries of Federation for effective control and monitoring with a view to extend adequate support to the General Secretary, AIUCBOF.

1. Com. R Vaidyanathan, Joint General Secretary

1. Com. Dipankar Mitra, Joint General Secretary

Next Secretariat Meeting of Federation

It has been decided to hold the next Secretariat Meeting of Federation at Kolkata on 9th January, 2011.

CONVENTION OF ALL INDIA UCO BANK PENSIONERS’ FEDERATION AT KOLKATA ON 8TH JANUARY, 2011

With the introduction of 2nd option for pension in the banking industry, Federation advised its Units to extend all sorts of help including financial help to the existing pensioners and future optees for formation of UCO Bank Pensioners’ Federation in all States as true representative body of pensioners of UCO Bank. Federation could foresee that in near future, employees and officers of Public Sector Banks shall be required to launch sustained struggle to resolve various issues of pensioners; especially two very important issues, namely, revision of pension with every wage revision as is being done in case of government employees and payment of family pension at par with government employees. Hence, there is urgent necessity to form vibrant and militant State Associations of Pensioners of our Bank as well as matching All India UCO Bank Pensioners’ Federation.

We are extremely happy to know that UCO Bank Pensioners’ Associations have been formed in most of the States and there is tremendous enthusiasm and urge on the part of the existing pensioners and future optees to enroll as members of newly formed UCO Bank Pensioners’ Associations.

Now, UCO Bank Pensioners’ Association, West Bengal has taken the initiatives, in consultation with other State Pensioners’ Associations, to form Al All India UCO Bank Pensioners’ Federation through a Convention scheduled to be held at Kolkata on 8th January 2011. We are confident that the efforts of pensioners of our Bank to from their true representative State Associations and their All India Federation shall be adequately rewarded in days to come and remain as a milestone in the struggle of pensioners to achieve their mission and fulfill their dreams. Federation takes this opportunity to wish them all success in their endeavour.