The most mysterious thing for a PSU Banker is their "Wage Revision Talks" which sometimes looks like a Super Secret Deal btwn 2 Parties (IBA & UFBU) that has nothing to do with Bankers in particular.

A thread to understand role of IBA in Misery of Bankers;

#BankNirbharBharat
IBA(Indian Banks Assosiation) which in a voluntary Org (As stated by them) depends upon Banks for their day to Day expenses. Banks who r custodian of Public money r feeding IBA from Tax payers money still IBA claims that it doesn& #39;t come under RTI, WHY???
#928Days
1/n
In repoinse to RTIs, various Banks informed that IBA has taken a Huge sum of amount from Banks every year as Membership Fee
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✔" title="Heavy check mark" aria-label="Emoji: Heavy check mark">Its just 1 Bank figure
2010-11-6 Lakh
2011-12-6 Lkh
2012-13-6.74
2014-15-12.35
2015-16-20.22
2016-17-21.98
2017-18-22.08
2018-19-22.65
#928Days
2/n
In 2018-19 alone IBA took 110.95 Lakh from 5 Banks as Annual Subscription to meet its Expenses, Revealed in RTIs filed to Banks
(Other Banks Data not available nw)
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✔" title="Heavy check mark" aria-label="Emoji: Heavy check mark">S Bank-11.32 Lakh
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✔" title="Heavy check mark" aria-label="Emoji: Heavy check mark">C bank-39.32 Lakh
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✔" title="Heavy check mark" aria-label="Emoji: Heavy check mark">S Bank-22.65 Lakh
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✔" title="Heavy check mark" aria-label="Emoji: Heavy check mark">C Bank-18.88 Lakh
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✔" title="Heavy check mark" aria-label="Emoji: Heavy check mark">I Bank-18.88 Lakh
#928Days
3/n
Not even that, Banks incurring huge expenses for meetings done for Wage Negotiation talks held for Bankers.
A CMD of a reputed bank paid 7.55 Lakh from Tax Payers Money, as travel expenses for Wage negotiations talks held for 11th BPS in 2 Years
#BankNirbharBharat
4/n
The Mandate (Base Document) for Wage Negotiations of Bankers Btwn IBA & UFBU is that secret document that even Banks didn& #39;t allowed to divulged anything for it. The Appeal was rejected by Banks citing reason that it doesn& #39;t attract public interest, how come??
#928 Days
5/n
Right after those RTIs, IBA issued an advisory stating clearly that it is Voluntary in nature, its not Regulator of Banks, neither a Govt/Quasi Govt Body of any kind. It also states that IBA as no authority on Banks or other Financial service Players, HOW??
#BankNirbharBharat
6/n
Apart from Wage Revision, IBA also facilitates Transport & Health facilities for Bankers. During transfer No Banker is allowed to move their belongings frm non IBA approved operator! Man they charge very hefty & for Non IBA operator Bank only pass Half Expenses, WHY?
7/n
#928Days
Health insurance is a Major obligation for an employer towards its Employees. Banks here too depends upon IBA for Health Insurance. The coverage which is easily available in market for 20-21k, IBA asks Members banks to pay 34-35 K for d same. Refer Attachments plz
8/n
#928Days
Health insurance is a Major obligation for an employer towards its Employees. Banks here too depends upon IBA for Health Insurance. The coverage which is easily available in market for 20-21k, IBA asks Members banks to pay 34-35 K for d same. Refer Attachments plz8/n #928Days
Health insurance is a Major obligation for an employer towards its Employees. Banks here too depends upon IBA for Health Insurance. The coverage which is easily available in market for 20-21k, IBA asks Members banks to pay 34-35 K for d same. Refer Attachments plz8/n #928Days
There r more than enough evidences which r also available in Public domain to expose Nexus of Mgmt & IBA but Bank Unions never bothered to look into or perhaps they know it but kept silent for d sake of their filled pockets?
After all its them who signed those DEALS!
9/n
#928Days
As per the Reply received from banks abt Mandate given to IBA by Banks to hold Wage Negotiations tasks we can say that all PSBs r bound to implement IBA& #39;s decision but as per affidavit filed by IBA in honourable Delhi HC, says that they only hav 9 PSU Bank Member??
10/n
#928Days
Quote, "241 Members & ONLY 9 Members r Public Sector Banks". IBA responded that in a case filed against CIC& #39;s order of Declaring IBA a "Public Authority" under RTI Act 2005.
Case is still in hearing at Delhi HC so we have to wait for d final verdict, so No Comments.
11/n
#928Days
Million $ Qns is Bankers(PSBs In Particular) on whom whole Country& #39;s eyes r to provide relief in COVID19 pandemic r being cheated by very Org which supposed to take care of Them???
Lies/Hidden Mandates/Dubious Circulars & many factors indicating otherwise
12/n
#BankNirbharBharat
All the information we shared here r in Public Domain & we just summarized it here to make u understand what is wrong with the present Banking System so Bankers may ask their respective Union leaders why they r helpless in front of IBA!!
#BankNirbharBharat
13/n
Evidences clearly indicates that IBA is not playing fair, neither to Bankers nor to Tax Payers.
To Make IBA more accountable, we request @rtiindia @DFS_India @FinMinIndia to declare IBA a Public Org to Protect Tax Payer& #39;s Money!
#BankNirbharBharat
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