IDBI Bank officers threaten strike on November 28 over wage revision issue

Officers of IDBI Bank are planning to hold a token strike on November 28 to push their charter of demands, including wage revision.

Vithal Koteswara Rao, General Secretary of the All-India IDBI Officers’ Association, said the current wage structure has become overdue for revision.

Rao, in a letter to the MD and CEO of the bank, said that the wage structure was declared unilaterally by the management in July 2009 and the same had expired on October 31, 2012.

He said it was a matter of great concern that even after the last round of wage negotiations on August 12, 2016, the officers’ association had not been called for further discussions. “By the end of next week, four long years will have been completed without wage revision for the officers,” Rao said in the letter.

Among the other demands is the re-introduction of special increments after a pass in the JAIIB and CAIIB examinations conducted by the Indian Institute of Banking and Finance, Mumbai.

This used to be the norm in the bank till December 31, 2009, but was later discontinued without the consent of the officers’ association.

This benefit is available across the banking industry, including the old-generation private and foreign banks. A favourable decision in this regard would benefit more than 12,000 officers.

The association also wants that the New Pension Scheme (NPS), as announced in a circular dated April 18, 2012, be implemented prospectively and not retrospectively from April 1, 2008.

In the rest of the banking industry, the NPS was introduced in April, 2010, prospectively after signing a joint note between the Indian Banks’ Association and the United Forum of Bank Unions. IDBI Bank is not a party to this settlement, though.

In September 2012, the IDBI Officers’ Association had moved the Mumbai High Court against the unilateral implementation of NPS retrospectively, which is still pending.

The association is now willing to settle for an out-of-court settlement with the management as and when the wage negotiations take place. More than 8,500 officers stand to benefit from a settlement of the issue.

Another demand is with respect to one more pension option for provident fund optees along the lines of that announced for the banking sector in April 2010 for in-service and retired officers. At least 2,000 persons will benefit from the new option, if announced.

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