Thursday, June 13, 2013

Bank unions want "adequate increase" in salary, hope negotiation be over within 6 months

Bank unions want ‘adequate increase in salary’ as part of their demands to the management of all banks, represented by the Indian Banks Association (IBA). The 10th bipartite talks between bank unions and IBA are on currently to decide the quantum of wage increase for bank employees for the period covering November 2012 to October 2017. Each settlement is valid for a period of five years. The earlier settlement expired in October 2012.


C.H. Venkatachalam, General Secretary, All India Bank Employees Association, while laying out the case for an ‘adequate increase’, refused to quantify it. He said that employees should be paid more in view of the alarming price increase, increased job profile, wages in comparable sectors and the profitability of banks.
The 8th wage talks covering the period 2002-07 provided bank employees a 13.25 per cent increase in wages on the average while the 9th wage talks (covering 2007-12) gave them a 17.5 per cent increase on the average.
Venkatachalam said that the priority for unions in this settlement was to improve the dearness allowance (given to compensate inflation). He said that unions wanted DA to be credited on a monthly basis rather than on a quarterly basis as was the case now. He also said that unions wanted housing for all employees, improved transport, medical allowances and better post-retirement benefits such as family pension/ gratuity.


Responding to the criticism that wage talks tended to meander for a long while, Venkatachalam said that unions were in favour of conducting them in a time-bound, expedited way. IBA had also agreed with this view and he hoped that negotiations would be over within six months.
When asked if unions were agreeable to the proposal of variable pay linked to productivity, Venkatachalam said that they were open to proposals that offer incentives for performance or motivate employees. However, he clarified, that these could not be in lieu of the increase in basic emoluments that they were demanding. He also debunked the ‘cost-to-company’ concept that was floated by the IBA during the talks held last week.
He said that the concept wouldn’t work and the industry was not ripe enough for it. Elaborating he said that cost of establishment was not decided at the industry level but at the level of individual banks and their negotiations couldn’t cover this aspect.


Anonymous said...

Union leaders have to ensure that pension should be updated this time.

Shridhar said...

While negotiating wage revision unions must take into consider the upgradation of pension as it is done in state and central givt and press the IBA for implementation

Sanjay Bhatt said...

What a Joke ???

Nobody can believe that 10th BPS will over within next 6 months.
At least I can't believe this and I have no trust on this type of rumors.
Its only tactics of unions.


Anonymous said...

It will take 32 to 34 month to settle 10 th BPS.I am waiting for days when the strikes will be called by the union at least three days and mandatory wage cut for three days.

sudhakar said...

UFBU should also look into the wage increase in other sectors also. Most of the new recuites are not continuing in the Bank jobs because of not getting adequate compensation for the risk they carry and also not comparable to other sectors. l consider this aspect before finalization of X bipartite and also updated pension at par with Government employees.

Contact Us

Viewers may share any information with the administrator in this email
Any news, if approved, may be published in this blog under his /her name.
Related Posts with Thumbnails

Blog Archive

Bookmark This Page

Bookmark and Share
All the information published in this webpage is submitted by users or free to download on the internet. I make no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this page and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. All the other pages you visit through the hyper links may have different privacy policies. If anybody feels that his/her data has been illegally put in this webpage, or if you are the rightful owner of any material and want it removed please email me at "" and I will remove it immediately on demand. All the other standard disclaimers also apply.