Bank employees' 25 residual issues: From pension, gratuity to recruitment and working hours, AIBEA to begin talks

The bank strike may have been postponed, but several long-pending demands of bank employees are now moving to the discussion table.

Now, AIBEA’s latest circular dated September 30 says discussions on the long-pending “residual issues” will commence.

These are issues that remained unresolved when the 12th Bipartite Settlement / 9th Joint Note was signed on March 8, 2024.

And there are 25 of them.

They range from pension updation and gratuity to recruitment, medical insurance, working hours, staff welfare and promotion-related issues.

1. Improvement in PLI Scheme

2. Updation of Pension for past retirees

3. Provision to be made in the Pension Regulations to provide for periodical updation of pension along with wage revision settlement/s.

4. Improvements in Pension Scheme

5. Payment of Gratuity at one month Pay for each year of service without any restrictions.

6. Option to join the DA linked Defined Benefit Pension Scheme for employees covered by the Defined Contributory Pension Scheme

7. Extending Ex-gratia to pensioners of private Banks

8. Introduction of Leave Bank - finalization of the Scheme

9. Premium of medical Insurance Policy for retirees to be borne by Banks

10. Improvement in Group Medical Insurance Policy

11. Adequate recruitments of clerks and substaff in Banks

12. DA scheme for all pensioners to be at the uniform Index of 8088 points

13. Modifications in provisions on Disciplinary Action and Procedure

14. Inclusion of Special Allowance for superannuation benefits

15. Allocation of funds to Staff Welfare Fund based on Operating profits of Banks

16. Transport allowance to be paid to Physically challenged/differently-abled employees as applicable to Government employees.

17. Modifications in Compassionate Appointment Scheme

18. Regulated working hours for officers

19. Uniform Cash hours and business hours

20. North East Incentive on the lines of RBI/LIC

21. All contract/temporary employees to be regularized as permanent employees

22. LTC/LFC Monetization Scheme on the lines of scheme followed by a few Banks in the Industry

23. Officers in SMGS V who retired during period 1.11.2017 to 31.10.2020 shall be extended the benefit of notional first stagnation increment for the purpose of pension only, who were otherwise eligible, with monetary benefits from 1.4.2024.

24. Anomaly in fitment on promotion from Clerical to JMGS-I and from one scale to another.

25. Grid Holidays

For employees, some of these demands could have a direct bearing on pay, working conditions and career progression.

For retirees and pensioners, the focus is particularly on pension updation, DA, gratuity-related matters and medical insurance.

The latest AIBEA circular signals that these unresolved issues will now be taken up with the IBA.