11th Bipartite Charter of Demands

11th Bipartite Charter of Demands

The 11th Bipartite Charter of Demands submitted by AIBOC, AIBOA, INBOC and NOBO to Indian Bank Association

The Basic principle of our wage revision should be based on the Constitution of India which begins as,

“WE, THE PEOPLE OF INDIA, having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC and to secure to all its citizens:

JUSTICE, SOCIAL, ECONOMIC AND POLITICAL; LIBERTY of thought, expression, belief, faith and worship;

EQUALITY of status and of opportunity; and to promote among them all FRATERNITY assuring the dignity of the individual and the unity and integrity of the Nation;

IN OUR CONSTITUENT ASSEMBLY this twenty-sixth day of November, 1949, do HEREBY ADOPT, ENACT AND GIVE TO OURSELVES THIS CONSTITUTION.”

SALARY AND ALLOWANCES

The remuneration package of the Bank officers needs to be framed in such a manner that officers would feel that they are valued and fairly paid considering their work load and undertaking of enormous risks and responsibilities.

They should be treated at par with Government officials and PSU officers. As stated in the 7 Pay Commission Report the status of an officer in the society should also be taken into account while fixing the salary.

Remuneration of officers is an important element of proactive functioning in Banks in this era of competitive scrimmage and their commitment, dedication and hard labour towards the progress of the economy of the country.

In general, the level and structure of salary / remuneration / compensation should aim to achieve four objectives as under:

(i) Salary Structure should be sufficient to attract and retain quality officers.

(ii) Salary Structure should motivate officers to work hard.

(iii) Remuneration should induce other human resource management reforms.

(iv) Salary should be set at a level to ensure relativity with minimum salary in Banks and officers’ initial pay in line with compression ratio, as shown below, of Central Government Group A officers’ initial pay and their minimum pay of Group D employees.

(v) Salary should take into account the Risk, Responsibility, Accountability and also the Transfer ability of Officers.

(vi) The Bank Officers have a status similar to the Govt Officials and to maintain that status the salary should be adequate, by offering additional cushion.

(vii) As promotions depend only on vacancies which depends on the presence and business of the individual banks nobody should be allowed to stagnate and running scale should be introduced.

(viii) The anguish, agony and the aspirations of lady officers should be taken into account

(ix) Superannuation benefits should help one to live a respectable life after retirement

(x) The hardwork and contribution of the bankers for the development of the economy should be acknowledged through decent salary hike and allowances.

Table: 1
Compression ratio of minimum Basic Pay of Group D employees and Group A officers under different Pay Commissions of Central Government

A*=Central Pay Commission, B*=Minimum Basic Pay (Group D) Rs. , C*=Minimum Basic Pay of Officer Grade (Group A) Rs. D*=Compression Ratio

Table: 2
Compression ratio of minimum Basic Pay of Sub-Staff and Officer Grade under different bipartite Settlements in Banks

A*=Bi-partite Settlements, B*=Minimum Basic Pay (Sub-Staff) Rs. C*=Minimum Basic Pay of Officer Grade Rs., D*=Compression Ratio

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