IBA has Invited the Bank Unions for Initiating the Negotiations for the Wage Settlement

The Indian Banks’ Association ( IBA) has invited the bank unions for initiating the negotiations for the next wage settlement in the banking industry. Talks between IBA and the bank unions under the banner of United Forum of Bank Unions (UFBU) are to be held at Mumbai on May 2, according to C H Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA).

Rajeev Rishi, Chairman of IBA, will head the talks from the management side.The talks are expected to lead to the 11th bipartite settlement on wage revision. Venkatachalam sees the May 2 meeting as a “formal introductory” exercise and noted that the actual negotiations would start thereafter.

“AIBEA would like to expedite the settlement on time. We deserve a good revision in our wages to catch up with the market as well as commensurate with the increased work load in banks of late,” Venkatachalam said.

So far, 10 industry level bipartite settlements have been signed by IBA with the bank unions since 1966. The 10th bipartite settlement on wage revision for 10 lakh bank employees and officers was signed in May 2015 covering the period from November 2012 to October 2017. The next wage revision is due from November 2017.

3 thoughts on “IBA has Invited the Bank Unions for Initiating the Negotiations for the Wage Settlement

  1. क्या महगाई की मार सिर्फ रिटायर्ड केंद्रीय कर्मचारियों पे ही पडती है,
    बैंक रिटायर्ड पे नही पड़ती क्या?
    आज भी बैंक के रिटायर्ड कर्मचारी पुराने वेतनमान पर ही पेंशन ले रहेहैं जबकि केंद्रीय कर्मचारी हर संशोधित वेतनमान पर। आज महगाई दुगनी हो गई है,पर रिटायर्ड बैंक कर्मचारियों की पेंशन अब तक अपडेट नही हुई, बैंक कर्मचारियों की पेंशन भी नए वेतनमान अनुसार iba अद्यतन करे।
    क्योंकि बैंक पेंशन का आधार ही केंद्रीय पेंशन अधिनियम है।

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