Money & Banking

IBA sets up separate sub-committees to discuss wage revision with UFBU

Vinson Kurian Thiruvananthapuram | Updated on January 11, 2018 Published on July 24, 2017

CH Venkatachalam, General Secretary, All India Bank Employees Association. (file photo)

Negotiating Committee will discuss the common demands and issues of employees and officers having direct financial implications

The Indian Banks’ Association (IBA) has set up separate sub-committees to discuss the next round of wage revision with the United Forum of Bank Unions (UFBU).

This was decided at a meeting between the Negotiating Committee of the IBA led by RK Thakkar and the UFBU leaders on Thursday last, according to CH Venkatachalam, General Secretary, All India Bank Employees Association.

Separate panels

Rakesh Sharma, MD & CEO, Canara Bank, will chair the sub-committee for workmen employees. Its members are HC Sati (Allahabad Bank); Mrityunja Kumar Gupta (Bank of India); Punit Jain (Punjab National Bank); TS Seshadri, (Indian Bank); and Ajay Kumar Singh (SBI).

Prashant Kumar, Deputy Managing Director, SBI, will head the sub-committe for officers. Its members are Ujwal Kumar (Uco Bank); CP Giri (Canara Bank); B Ashok (Central Bank of India) and MK Biswal (Bank of Maharashtra), and SK Chowdhary, (Bank of Baroda).

The Negotiating Committee will discuss the common demands and issues of employees and officers having direct financial implications. The sub-committees will take up other demands relating to service conditions which are of non-financial in nature.

Five-day week

UFBU has welcomed the formation of the sub-committees but reiterated that the IBA should review its stand to restrict the discussions up to Scale-III officers.

IBA was of the view that this needs to be taken up with the banks concerned since its decision is based on the mandates given by them.

IBA has agreed to the demand that the ensuing wage revision for the employees and officers should be made with effect from November 1,2017.

It has also agreed to hold a round of discussions to follow up the issues covered by the Record Note signed on 25-5-2015 on demands such as periodical updation of pension, improvement in family pension, 100 per cent DA on pension to past retirees.

It was also clarified that introduction of five-day banking declaring the remaining Saturdays also as holidays would need wider consultation at different levels.

Published on July 24, 2017
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