Monday, January 1, 2018

Delay in wage talks irks bank unions

The United Forum of Bank Unions (UBFU) has voiced concern over the lag in negotiations for industry-level revision of wages and service conditions. The period of the 10th bipartite settlement and officers wage revision came to an end on October 31, 2017, the UBFU said in a letter to the Department of Financial Services, Ministry of Finance.


Revision of wages and service conditions bacame due on November 1, 2017, CH Venkatachalam, General Secretary, All India Bank Employees' Association, pointed out. The ministry had written to the individual banks and the India Banks’ Association (IBA) as early as in January 2016 advising them to initiate the process and conclude negotiations prior to November 1.

This was followed up with reminders on August 24, 2016; October 1, 2016; December 21, 2016; March 21, 2017, August 22, 2017 and December 13, 2017. In response, the IBA had invited the UFBU and commenced negotiations on May 2, 2017. It was assured that the entire negotiations would be expedited in order to complete the process before November 1, 2017.


During the last seven months since then, a number of meetings have been held and various non-financial issues discussed. But the IBA has not come out with any offer on the demand for wage revision. Despite repeated requests for an offer on which further negotiations can be held, the IBA has maintained a stoic silence.
The last meeting of the IBA’s Negotiating Committee was held on October 27, when the UBFU was assured that it would convene shortly and come up with an offer. The UBFU requested the Centre that the IBA be advised to resume negotiations on the quantum of wage revision without further delay so that efforts can be taken to conclude the settlement at the earliest.


Anonymous said...

As usual always it will take minimum 2 to 3 years to settle.. irrespective of government would not bothering about wage revisions of banking sector particularly... For making digital INDIA using banking staff like anything.. still they'll be looking at their nose straight. Keep on pressuring banking sector in all segments.. But why our union members are not calling continue strike at time MARCH when use to collect taxes.. Till that time they won't realise .

Anonymous said...

union leaders have no say they r taken for granted no hue and cry will have any effect on IBA/DFS/FM

Anonymous said...

as usual. leaders have no say. who cares neither DFS/IBA/FM is interested. u just watch the game.

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