Rift between RBI and Central Government - BEFI

Rift between RBI and Central Government - BEFI

RIFT BETWEEN RBI AND THE CENTRAL GOVERNMENT
BANK EMPLOYEES FEDERATION OF INDIA

NARESH PAUL CENTRE
53 Radha Bazar Lane, (1st Floor), Kolkata - 700 001
e-mail: pradipbefi@yahoo.co.in Website: www.befi.in
(Ph):033- 2225-4414/2236-5108 (M) 9433144271 Fax: 033-2236-5109/2242-0690

Press Statement issued on 30th October 2018 by Shri Pradip Biswas,
General Secretary, Bank Employees Federation of India, at Kolkata,

ON THE RIFT BETWEEN RBI AND THE CENTRAL GOVERNMENT

We are disgusted, rather alarmed, at the public show of rift between the Reserve Bank of India (RBI) and the Central Government in recent months.

Based on the recommendation of the Royal Commission on Indian Currency and Finance (1926), as conceptualised by Dr. B.R.Ambedkar in his famous book, "The problem of the Rupee - its origin and its solution", RBI was established in 1935 to take care of the financial troubles in the aftermath of the First World War. Since then it has been in charge of managing and regulating the currency and credit system, the monetary policy and foreign exchange reserves of the country; it also acts as the Banker to the Central and State Governments and exercises supervisory
and regulatory controls over the Banking System.

True to its policy of decimating all constitutional and other public institutions to suit its political agenda, the present dispensation at the centre has been out to undermining the autonomy and authority of RBI in all conceivable ways. It all started with the formation of the Monetary Policy Committee, in 2016, with three members nominated by the Centre, so as to gag the RBI's absolute say in the matter of deciding interest rates. Then came the most ill-conceived demonetisation which, the RBI claimed to have been handed out to it by the Centre, a clear case of usurpation of authority of RBI in the matter of currency management.

To make RBI fall in line, Sri Nachiket Mor, a Director on the Board of RBI, was then removed more than two years before his term was to expire; at the same time, Sri S. Gurumurthy and Sri S. Marathe, having RSS-links, were inducted into the Board much to the displeasure of the Govornor. Then it has been flexing its muscles on the issues of management of Bad Loans (called NPA) of Banks and Prompt Corrective Action (PCA) thereagainst.

There are tussle, also, over Special Window for Dollar Sales to Oil Companies, over funding of Non-Banking Financial Companies, over formation of a separate Payment Regulator etc. To top it all, the Centre wants the RBI to transfer its reserves to the central exchequer; while RBI has made a pay-out of a whopping Rs.30,000/- crore this fiscal, the Centre demands at least Rs.66,000/- Crore which the RBI has declined. The list is almost unending but having one single objective of decimating the Reserve Bank of India, the Central Bank of the country.

While we do not subscribe to all the decisions of RBI at all times, there is no denying that the firm intervention by RBI has saved our economy from many a crisis, the latest being the global financial meltdown of 2008; we firmly believe that undermining RBI would, in its wake, bring about a costly disaster for our economy.

We, therefore, demand that the authority, autonomy and independence of RBI be further strengthened so as to enable it exercise more and stringent supervisory and regulatory control over the banking and monetary system in the best interest of our country.

For favour of circulation/broadcasting/telecasting through your esteemed media.

(Joydeb Dasgupta)
Secretary

Source: BEFI

Read More

Bank Wage Revision – Discussions with IBA on 14.11.2017

Bank Wage Revision – Discussions with IBA on 14.11.2017

DISCUSSIONS WITH IBA ON 14.11.2017

ALL INDIA BANK EMPLOYEES’ ASSOCIATION – AIBEA

NATIONAL CONFEDERATION OF BANK EMPLOYEES – NCBE

BANK EMPLOYEES FEDERATION OF INDIA – BEFI

INDIAN NATIONAL BANK EMPLOYEES FEDERATION – INBEF

NATIONAL ORGANISATION OF BANK WORKERS – NOBW

CIRCULAR TO UNITS

15.11.2017

Dear Comrades,

DISCUSSIONS WITH IBA ON 14.11.2017

One more round of discussions took place between IBA and our Workmen Unions yesterday i.e.14.11.2017 in IBA Office ain Mumbai.

IBA’s Sub-Committee was represented by Mr. Rakesh Sharma (MD, Canara Bank and Chairman of the Sub-Committee), Mr. V.G. Kannan(Chief Executive, IBA), Mr. B. Raj Kumar(Dy. Chief Executive, IBA), Mr. M.K Gupta(GM, Bank of India), Mr. Punit Jain(GM, PNB), Mr. T.S Seshadri(GM, Indian Bank), Mr. S.K Kakkar(Sr. Advisor, HR&IR, IBA) and Mr. K.S Chauhan(Advisor, IBA).

Our team was represented by Com. C.H. Venkatachalam and Com. B.S. Rambabu(AIBEA), Com. S.K Bandlish and Com. Vinil Saxena(NCBE), Com. Pradip Biswas(BEFI), Com. Subhash Sawant(INBEF) and Com. Upendrakumar(NOBW),

During the meeting, the following issues discussed in the meeting held on 3.11.2017 in the Sub-Group on demands relating to Disciplinary Action and Procedure were informed and further discussion took place.

i. For claiming travelling expenses for defending an employee in the departmental action, existing restrictions of ‘within the state’ be removed.

ii. Subsistence Allowance to be improved upon.

iii. Indiscriminate usage of Clause 5(j) to be stopped through proper guidelines / definition.

iv. Clarification with regard to provision of Clause 6(e) i.e. bringing down by two stages in the scale of pay and applicability of the same to employees who have already reached maximum in the scale of pay.

v. Clarification to be given that minor misconducts clearly enumerated under Clause 7 of BPS dated 10.04.2002 should not be brought as major misconducted under Clause 5.

vi. Multiple charges for one incident should not be made out.

vii. Punishment order by the Disciplinary Authority not to be implemented till the final disposal of Appeal by the Appellate Authority.

viii. Issuance of charge sheet under Pension Regulation to Award Staff after retirement to be stopped since it is not provided in Bipartite Settlement.

ix. Awarding the punishment of stoppage of increments should be without affecting superannuation benefits, as in the case of Officers.

x. Provision for appeal against suspension.

xi. In case of punishment of dismissals, a provision for Review Authority after Appellate Authority.

xii. Deletion of Fine as a punishment.

It was decided that the conclusions on the discussion on these issues would be finalised in the next meeting.

Thereafter, the following issues were taken up for discussions:

– Simplified formula for calculation of overtime wages. Unions submitted their views and the issue would be discussed further.

– On the issue of introduction of Leave Bank providing for voluntary contribution of leave by the employees to a common pool and utilisation of the same for sanctioning leave to those employees who suffer from major diseases and prolonged illness and have not leave to their credit, Unions submitted their Note containing their views and explained their proposal. It was decided to discuss the issue further.

– On our demands like Child Care Leave for women employees, Sabbatical Leave, Study Leave, etc., it was agreed that Unions would submit a Note for further discussion.

We pointed out that considerable time has elapsed since commencement of the discussions in May, 2017 on our Charter of Demands, but so far IBA has not come forward with their offer on wage increase and hence demanded that the next meeting of the Full Negotiating Committee should be fixed up at the very earliest for this purpose.

With greetings,

Sd…
C.H. Venkatachalam/AIBEA
Sd…
S.K. Bandlish /NCBE
Sd…
Pradip Biswas/BEFI
Sd…
Subhash S.Sawant/INBEF
Sd…
Upendrakumar/NOBW

Source: www.befi.in

Read More