Money & Banking

Banks’ wage talks set to resume on July 30

KR Srivats New Delhi | Updated on August 17, 2018 Published on July 27, 2018

Setting aside their differences, the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA) have returned to the negotiation table to discuss the issue of wage hike.

The discussions with IBA for the 11th bipartite settlement will take place in Mumbai on July 30, CH Venkatachalam, General Secretary, All India Bank Employees Association, told BusinessLine.

It may be recalled that bank unions had gone on strike on May 30 and May 31 after the conciliatory meeting held before the Chief Labour Commissioner failed.

Venkatachalam said that UFBU, a representative body of nine bank unions, had again approached IBA explaining the reasons for the strike call, and how the 2 per cent increase in wages did not meet the expectations of bank unions.

“We wanted IBA to understand our position and agree to take things forward. They (IBA) have now agreed for resumption of talks. Let us see what is offered on July 30,” he said.

Wage revision for bank employees is due from November 2017 under the 11th bipartite settlement, which would span five years till 2022. Nearly 8.8 lakh employees would benefit if the 11th bipartite settlement is agreed and accepted.

It may be recalled that the strike call for May 30 and 31 was given by the UFBU in the wake of the government’s casual approach to wage revision for bank employees/officers; IBA’s meagre offer of 2 per cent hike in the wage bill towards wage increase; and IBA’s delay in resolving the charter of demands.

Meanwhile, the wage accord between IDBI Bank and its employees and officers was reached on July 18 and 19, respectively, and has been sent to the government for approval, sources said.

Published on July 27, 2018
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