Money & Banking

Need to change pattern of wage revision talks: bank unions

L N Revathy Coimbatore | Updated on January 22, 2018




The basic pattern of wage revision negotiations (in banks) has to change from a mere exercise to get monetary benefits to that of job security and safety. The All India Bank Employees Association would take the lead in this initiative, CH Venkatachalam, General Secretary, AIBEA, said.

Stating that the association would start consultations with base level suggestions well ahead of time, and as early as next year, he said ‘this time our target would be to quicken the process, put forth our demands well in advance and have the wage settlement talks begin on the dot. Generally, it takes about 24 to 30 months to reach a settlement.

“It need not be such a prolonged issue for the bank managements know our problem and we know theirs. There is a need to radicalise the process, logicalise wage revision, rationalise the demand and expedite the whole thing,” the AIBEA General Secretary added.

Published on September 25, 2015

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