Indian Banks Association (IBA) has invited the nine-union United Forum of Bank Unions for bilateral talks on the contentious issue of long-term wage accord in the banking industry in the country.

The talks between the IBA’s negotiating team and the unions’ leaders will be held in Mumbai on March 3.

The IBA’s managing committee is scheduled to meet on February 28 to discuss the wage hike. The decision at the meeting would be presented to the government to secure the government’s approval for offering a higher percentage of wage hike. At the last round of talks, the IBA had offered 10 per cent increase in the monthly salaries of bank employees whose number is close to a million.

The UFBU had recently gone a two-day national strike which had forced the entire banking industry to shutter.

MV Murali, convenor of UFBU, told Business Line the unions’ executive committee, which had met in Mumbai on Wednesday to review the impact of the two-day strike, had decided to chalk out the next course of action after the March 3 talks.

(This article was published on February 19, 2014)
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