11th Bipartite Wage Revision - Minutes of Bank's Union Meeting at DFS on –2nd May 2018 - 11th Bipartite Wage Settlement - Latest News

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Thursday, 3 May 2018

11th Bipartite Wage Revision - Minutes of Bank's Union Meeting at DFS on –2nd May 2018

11th Bipartite Wage Settlement - Latest Updates

Department of Financial Services (DFS), Ministry of Finance, Government of India invited Banker's Union based on the memorandum, they had submitted to them & RBI. This was the first meeting called by official of Finance Ministry for discussion.

Meeting was took place at the office of Mr. Ravi Mittal, Additional Secretary finance. Mr. Amit Agarwal, Joint Secretary, DFS was also the member in the meeting.

Discussion were held on the following issues :

1. Wage Revision

The talks have resumed but the issue of Mandate and Quantum has to be settled.Lady Officers issues were to be taken care.

DFS Response  - The response was positive.The addl. Secretary said “Your arguments are well
taken.We will see what best can be done.

2. Appointment of Officer Director/Employee Director:

DFS Response  - The response was that steps have been taken.

3. Implementation of the recommendation of Parliament Standing Committee
on NPA:

DFS Response  - The response was that the Standing Committee is going to come up with fresh recommendations soon.

4. Levy for Tax on Net Profit: 

DFS Response  - The response was that it will be explored with the concerned ministries.

5. Tax on CRR: 

DFS Response - The response was that it is an issue RBI has to decide.

6. Reimbursement of Expenditure on Govt Schemes:

DFS Response -  No response from their side

7. Cross Selling

DFS Response - The response was very positive.The officials are also of the opinion that the income should be credited to the Banks commission account.

8. Review of RBI Policies;PCA,NCLT etc:

DFS Response - Now no proposal for Bad Bank.The issues are to be taken up with RBI

9. Service Tax on Banks for on Services Charges waived:

DFS Response - The response was that efforts are on to solve the issue.

10. Superannuation Benefits:

DFS Response - We have submitted detailed memorandum related to various issues concerning superannuation benefits.

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