Indian Banks’ Association, representing the managements of banks in the country, will soon take up with the Finance Minister the demands set forth by the United Forum of Bank Unions.

IBA functionaries and UFBU leaders held talks on the ticklish issue of wage hike in Mumbai on Monday. The union leaders were told that the issues raised by them would be taken up with top Finance Ministry officials on Wednesday. Based on the Government’s stand, the next round of bilateral talks would be held “within the next 10 days”. UFBU leaders told Business Line that they had strongly pushed for a five-day banking week (instead of six now), which is the norm in many countries. They have also demanded regulation of working hours, a return to the old pension scheme for bank employees, and better medical care and housing benefits.

Several rounds of talks have already been held between the IBA and the unions over the demands, but the talks were deadlocked on the crucial issue of wage hike.

(This article was published on March 3, 2014)
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