Talks with IBA on Bank Wage Revision – UFBU Circular

Talks with IBA on Bank Wage Revision – UFBU Circular

IBA’s increased offer:

Picking up the thread from the discussions of the last round of discussions wherein we had urged upon the IBA to improve their offer of 6% hike in the cost of payslip components, IBA revised their offer and increased their offer to 8% instead of 6% offered earlier. IBA also reiterated their formula of further wage increase based on their proposal linked to annual increase in Operating Profit and on Return on Assets of the Banks.

While welcoming their improved offer, we stated that differential wage increase based profits of each Bank is not acceptable to us and that the wage revision in the Banks should be uniform as has been hitherto. We also further stated that their revised offer is far below our expectations.

Hence, we urged upon the IBA to further revise their offer substantially to an acceptable level. We further stated that the issue of full mandate i.e.wage revision for Officers to cover all Officers upto Scale-VII should also be resolved. IBA expressed their limitations in this regard but we insisted them to find an amicable solution to this important issue.

Talks with IBA on Bank Wage Revision – UFBU Circular

Talks with IBA on wage revision (1)

Talks with IBA on wage revision (1)

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