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The long-term wage-settlement negotiations between the trade unions in the banking sector and the Indian Banks Association, which got stalled during the last lap of the Manmohan Singh Government, have resumed.
On Friday, the IBA functionaries held talks with the leaders of the United Forum of Bank Unions, representing a large number of trade unions in public sector and private sector banks. The last round of talks between the UFBU and the IBA, along with Finance Ministry officials, was held on March 14.
However, Friday’s talks ended inclusively, UFBU leaders told Business Line . At the talks, held in Mumbai, the IBA upped its offer of wage rise from the earlier 10 per cent to 11.
But, the UFBU insisted that there should at least be 25 per cent increase in the ‘pay slip component’ of the bank staff. The IBA rejected the demand outright and the talks ended inconclusively without setting a date for the next round of talks.
Leaders said this was the first time that the UFBU had put figure to figure their demand for wage rise. But, the IBA functionaries’ offer had not come anywhere near the unions’ demand.
However, union leaders feel that now that a new Government is in place at the Centre, the IBA will substantially improve its offer in the next round of talks. The IBA needs the Finance Ministry’s nod for making an improved offer.
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