Financial Daily from THE HINDU group of publications
Monday, Jun 28, 2004
Financial Daily from THE HINDU group of publications Monday, Jun 28, 2004 |
||
|
|
||
|
Industry & Economy
-
Trade & Labour Unions Stress on collective bargaining for settling disputes Our Bureau
Mangalore , June 27 THE Secretary, Union Ministry of Labour, Dr P.D. Shenoy, has said that collective bargaining is the best method of settling disputes in industry. He was delivering the 9th Balasubramaniam Memorial Lecture on "Labour-management collaboration: Means or hindrance to improve efficiency", organised by the Corporation Bank Officers' Organisation, in Mangalore on Saturday. Though collective bargaining has not been defined in the Industrial Disputes Act, it has come as an informal tool in settling disputes. Banking industry is known for settling disputes through collective bargaining. He said that the third party steps in when there is no other way to settle the disputes. But the mediator's role should be at the minimum level, and should enter only when required. Stressing the importance of human relationship, he said that 99 per cent of any settlement depends on this aspect. Dr Shenoy noted that union in Corporation Bank was set up only after 65 years of the existence of the bank, and 50 year after the enactment of Trade Union Act. Stating that the unions have provided confrontation and cooperation to the bank, he said, "We have to move from confrontation to cooperation in the era of globalisation." He said that suggestions and information provided by the unions are vital in the development of any institution. Describing globalisation as a tiger, he said that to ride it one should tame it. Globalisation should be tamed through cooperation. Dr Shenoy hoped that India would become economic superpower by 2015. It has already become the world leader in the area of information technology, and is exporting skilled workforce. He congratulated the management and labour force of the bank for maintaining cordial relationship between them. Because of the cordial relationship, the bank adopted prudential norms much earlier, he added. The Chairman and Managing Director of Corporation Bank, Mr Cherian Varghese, who presided over the function, said that stakeholders, including shareholders and customers, are the third and important element in the successful functioning of the organisation. "In labour-management relation our commitment is to the shareholders and customers," he said. Stating that liberalisation has put customers on the top, he said that their trust on bank has played important role in its growth. Because of the depositors' trust, the bank can borrow their money without any security. The labour and management should have mutual trust, he said, adding that their inter-dependence is vital for the bank's growth.
More Stories on : Trade & Labour Unions | Karnataka
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|