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Despite a lapse of 21 months since the start of wage negotiation, there has been no significant improvement towards expeditious conclusion of settlement, say bank union sources.
Stating that the traditional 'round table negotiations' is possibly going into history, retired bank unionist S Srinivasan observed that this is replaced by 'correspondences' after the last meeting on June 13.
'At the last round held in June, IBA inched, relented to a one per cent increase from its earlier stand of 10 per cent. Thereafter negotiations talks across the table have come to a standstill and replaced with exchange of 3 letters between the parties, causing displeasure among bank employees,' he said.
Public sector banks are the major foundation of Indian economy. With changing times, these entities would need to rejuvenate themselves like the private or foreign counterparts. A healthy wage structure and service condition would inspire and motivate the workforce, he added.
Meanwhile M A Srinivasan, General Secretary, Canara Bank Oficers' Union told Business Line that the Central Committee of the All India Bank Officers Association would be meeting on September 16 and 17 at Kolkata to discuss wage revision issues, growing problem of NPA in the banking industry and issues concerning banking reforms such as payment banks among others.
The AIBOA demand includes a 25 per cent hike in the pay-slip component, 5-day week and proper disciplinary guidelines.
Justifying the hike, he said 'the cost of living has gone up considerably, national income under five-year plans has increased and prevailing wage rates in other industries including government employees has also risen significantly.'
'Notwithstanding such comparison, the nature of work in the banking industry today requires greater skill, involves risks accuracy, responsibility and hard labour.'
On NPA, union sources contend that NPA is not the creation of the workforce and dismissed IBA's contention on bank's capacity to relent to the unions demand of 25 per cent wage hike as 'shallow and unfounded'.
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