AIBOC’s 13th Triennial General Council Resolves to Tackle Key Issues in Public Sector Banking

The 13th Triennial General Council of the All India Bank Officers’ Confederation (AIBOC) took place at Comrade Santha Raju Mancha, Srimanta Sankaradeva International Auditorium, Guwahati, from 7 to 9 July 2024. The general council attended by around 1200 delegates from across the country, concluded with significant resolutions aimed at fortifying the public sector banking in India.

(AIBOC triennial general council commenced with flag hoisting.) 

Resolutions on Extra-Hours Work and Transfer Policy Reform

AIBOC has urged the Indian Banks' Association (IBA), respective bank managements, the Department of Financial Services (DFS), and other regulatory authorities to recognise the necessity of regulated working hours for bank officers. The council emphasised the need for strict instructions against calling officers to work on holidays.

The council also demanded a codified transfer posting guideline to minimise discomfort for officers by ensuring postings within their linguistic zones. The policy should prevent the use of transfers as a demotivating tool.

Mis-Selling of Third-Party Products and Threat of Privatisation

The general council addressed the issue of mis-selling third-party products(TPPs). It called upon the IBA, bank management, DFS, and regulatory bodies to stop this practice and implement immediate corrective measures.

AIBOC strongly opposed the privatisation of public sector banks, urging the Government of India, IBA, DFS, and other authorities to consider the potential compromise of economic sovereignty that privatisation could bring.

(Cultural events as part of AIBOC General Council.)

Call for Recruitment, No to Outsourcing

AIBOC called for an end to outsourcing core activities to private agencies and emphasised the need for regular recruitment to ensure adequate human resources in banks.

Highlighting the disparity in staff between public and private sector banks, the council resolved to mobilise efforts to increase recruitment in public sector banks. As of March 2024, public sector banks employed significantly fewer staff compared to private banks. AIBOC also urged the government and bank management to appoint non-workmen (officers) as directors on the boards of banks, enhancing representation and governance.

(A moment of felicitation from the general council meeting.)

Pension Reforms

The 13th Triennial General Council of AIBOC resolved to spearhead a unified struggle for the restoration of the old defined pension scheme by bringing together banking trade unions and unions from other Public Sector Undertakings and financial institutions. Additionally, AIBOC aims to form a joint committee with trade unions across various sectors, including government and public services, to collectively demand the reinstatement of the old pension scheme. The council also strongly demanded the resolution of the long-pending issue of pension updation within a specified timeframe.

Merger of Regional Rural Banks (RRBs)

The AIBOC General Council reiterated their demand for the merger of RRBs with their respective sponsor banks to ‘enhance efficiency and viability within the banking sector’.  

(The solidarity march led by AIBOC President P M Balachandra.)

The General Council saw the reelection of P M Balachandra as President and Rupam Roy as General Secretary. Both will serve a three-year term, along with the newly elected Executive Committee, effective from 9 July, 2024. The open session on the evening of 7 July featured a large solidarity march, showcasing the cultural diversity of the North-Eastern Region with performances by the troupe of ‘Purbaranga’. Prominent figures from the banking trade union movement, including C H Venkatachalam, General Secretary of AIBEA, participated in the march led by President P M Balachandra.