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BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first*** DA FOR BANKER FROM FEBRUARY 2023 SEE DETAILS CHART FOR OFFICER AND WORKMAN***Outcome of Today’s meeting with IBA - 31.01.2023***All India Bank Strike 27.06.2022******PLEASE VISIT INDIAN TOURISM CULTURE & HERITAGE *****NITI Aayog finalised names of Two public sector banks and one general Insurance Co. for privatisation****No economic reason to privatise PSU banks---post date 24.05.2021******Mobile users may soon be able to switch from postpaid to prepaid and vice versa using OTP*****India May Privatise or Shut 46 PSUs in First 100 Days, Says NITI Aayog's Rajiv Kumar----We should start with the banks*****Expected DA for Bank Employee from August 2019 is 24 slab to 29 slab*****RTGS time window from 4:30 pm to 6:00 pm. with effect from June 01.06.2019******WITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI***** Salient features of Sukanya Samriddhi Account---Who can open and how?******OBC posts 39% rise in Q4 profit, OBC readt tWITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI o take another Bank--MD MUkesh Jain*******DA FOR BANKER FROM NOV 2018 IS INCREASE 66 SLAB I.E 6.60%****40,000 STANDARD DEDUCTION IN YOUR TAX - IS A GREAT DRAM/BLUFF BY JAITLY SEE DETAILS+++++++Cabinet approves plans to merge PSU banks-The final scheme will be notified by the central government in consultation with the Reserve Bank. post date 23.08.2017****IBA to restrict the negotiations on Charter of Demands of Officers' Associations up to Scale-III only post dated 07.07.2017*****

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BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Sunday, May 14, 2017

11th BPS Wage Settlement : Expected New Basic Pay for clerk Rs 26550/- see details below

We are all aware that the Department of Financial Services, Ministry of Finance has set the ball rolling for commencement of 11th BPS Wage Settlement and they have issued a notification to all the banks that are part of the process, advising them to complete the whole process well before the due date i.e. 1st November, 2017.
Before going on further, we must keep in mind that the implementation of new pay scales for central government employees under 7th CPC is already under way. Their new pay scales are expected to be implemented with effect from 1st January, 2016.
Let us now continue to arrive at the new Basic Pay to be fixed in 11th BPS.
Assumptions:
  1. The average All India Consumer Price Index for Industrial workers (Base: 1960=100) is expected to be at 6500 around  for the quarter ending 30th September, 2017 (assuming that the annualinflationwill be 6% for the next 2 years).
  2. Accordingly, the DA as on 31-10-2017 on the exiting basic pay will be at 50%.
  3. Unlike last time, it is expected that the full amount of D.A. outstanding as on 31.10.2017 will be merged, as is being done in the case of Central Government Employees.
  4. So, the whole D.A. at 100% will be merged with the existing basic pay, at the time of next wage revision.
  5. Then, the Special Allowance with applicable D.A. thereon (introduced in 10th BPS) is also to be merged with the existing basic pay.
  6. Then, on this amount, an increase of 40% (additionalload factor) is given and fixed as the revised Basic Pay. It is then rounded off to the next higher 100.e
  7. We want  main increase in basic pay 
  8. We want old medical facilities instead of mediclaim facilities
Before going to negotiation we request to retired leader remember above all point.

Now, let us see how much it translates to, so as to arrive at the revised Basic Pay for each staff, depending on his cadre/grade. Variation occurs here, only because of the difference in the rates of Special Allowance fixed for officers in different grades and scales.
(Amount in Rupees)
S NoComponents of Revised Basic PaySub-staff to Officer MMGS IIIOfficer SMGS IV & SMGS VOfficer TEGS VI & TEGS VII
1Present Basic Pay (Notional)100.00100.00100.00
2Special Allowance as per 10thBPS (excluding D.A. thereon)7.7510.0011.00
3Total of (1) and (2) above107.75110.00111.00
4D.A. as on 31.10.2017 (Projected) calculated on (3) above now 45.50%505050
5Total of (3) and (4) above161.25165 166.50
6Revised Basic Pay, after adding 40% additional loadon (5) above225.75 231 233.10

Sr.NoRank/GradeExisting Basic Pay (Rupees)Revised Basic Pay (Rupees)Annual Increment –New (Rupees)
StartingClosingStartingClosing
1Sub-staff9560185452158241865900/8  – 1100/8 – 1400/3
2Clerk117653154026554711861500/3 – 1900/8 – 2400/8
3Officer – JMGS I237004202053491948402400/7 – 2900/2 – 3500/7
4Officer – MMGS II3170545950716591037102900/2 – 3500/9
5Officer – MMGS III4202051490948401162143500/5 – 4200/2
6Officer – SMGS IV50030591701115501366824200/4 – 5000/2
7Officer – SMGS V59170660701366821526215000/2 – 6000/2
8Top Executive – TEG VI6868076520160093 1783686000/2 – 7200/2
9Top Executive – TEG VII7652085000178368 1981357200/2 – 8400/2
Note:
1. The new Basic Pay is arrived, by multiplying the present Basic Pay by the factor as stated above.
2. Then, the new basic pay so arrived at is raised to the next higher 100 Rupees.
3. This figure will be the new Basic Pay.
4. The Basic Pay mentioned above is exclusive of the Stagnation Increments, wherever applicable.
5. Amount of new increment is slightly lower than 4% of the revised Basic Pay at each stage.
6. It must be noted that even the revised Basic Pay at this level is far below the proposed Basic Pay of the Central Government staff, as per 7th CPC.
7. Since the entire D.A. outstanding as on 31.10.2017 is to be merged with the existing Basic Pay, the new D.A. as on 01.11.2017 will be ‘Nil’.
8. Therefore, we are fully justified in demanding the revised Basic Pay at this level and we need not feel guilty that our demand may sound unreasonable, impractical and excessive.
9. Unless we convince ourselves regarding the justification in our demands, we cannot go the bargaining table with total confidence. This we must remember.
Some Points to Remember 
1. Already we are far behind the central government employees in pay and perks and if we fail to bridge the gap between them and us at the time of 11th BPS, the gap will keep on widening further and further, with each wage revision.
2. Already the bank jobs have lost their charm, for the highly qualified and meritorious candidates and the attrition rate is also very high as compared to any other sector or industry.
3. Moreover, we must remember that nearly 40% of the existing staff in the banking industry retire in the normal course (on attaining the age of superannuation), in the next 4 years. The exodus will be like a deluge between 2018 and 2020.
4. With the recruitment not taking place at the desired levels, the staff position will only deteriorate, with the indiscriminate branch expansion by all banks in general and public sector banks in particular. With the introduction of new products every now and then, the situation will turn precarious.
5. Therefore, unless we make the bank job a more lucrative and interesting profession, banks especially in the public sector cannot attract good talent and retain it.
6. If the revised basic pay is not at the level projected hereinabove, it will only reflect upon our weak bargaining power and the inability of our union leaders to feel the pulse of the staff especially those in the public sector banks.

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