Bank Employees Wage Revision Talks with IBA

Bank Employees Wage Revision Talks with IBA




Dear Comrades,


Further to the ongoing discussions in the Sub-Committee on non-financial demands, today, a round of discussions with the Full Negotiating Committee of IBA was held in Mumbai.

From the side of IBA, Mr.R.K. Takkar(MD-UCO Bank and Chairman of the Negotiating Committee), Mr.V.G. Kannan(Chief Executive of IBA), Mrs.Usha Ananthasubramaniam(MD-Allahabad Bank), Mr.P.S. Jayakumar(MD-Bank of Baroda), Mr.Shyam Srinivasan(MD-Federal Bank), Mr.Prashant Kumar(DMD-SBI), Mr.B. Rajkumar(Dy.Chief Executive-IBA), Mr.S.K. Kakkar(Sr. Advisor-IBA) and Mr.K.S. Chauhan(Advisor-IBA) were present.

From the side of UFBU, the following representatives were present: Com.C.H. Venkatachalam and Com.Rajen Nagar(AIBEA), Com.D.T. Franco and Com.Dilip Saha(AIBOC), Com.Sanjeev K. Bandlish and Com.Vinil Saxena(NCBE), Com.S. Nagarajan(AIBOA), Com.C.J. Nandakumar(BEFI), Com.Subhash Sawant(INBEF), Com.K.K. Nair(INBOC), Com.Ramnath Kini(NOBW) and Com.Sunil Deshpande(NOBO).

We submitted the following main issues/points and wanted the response of IBA.

  • Wage revision process should be completed expeditiously
  • More frequent meetings/discussions to be held for this purpose
  • Data regarding establishment expenses, number of employees, etc to be provided
  • Negotiations must cover all Officers upto Scale-VII
  • IBA to make their initial offer on increase in wages
  • Fixing the Price Index upto which DA is to be merged with Basic Pay
  • Discussion on the issues pertaining to retirees viz.100% DA, pension updation, improvement in Family Pension, etc.
  • Introduction of 5 Day Banking i.e. remaining Saturdays also to be holidays.

IBA responded as under:

  • IBA will hold frequent meetings to expedite the process.
  • Data on Establishment Expenses as on 31.03.2017 was provided. Further data would be provided shortly.
  • On the issue of fractured mandate by some Banks, Unions have to take up with the concerned Banks.
  • For officers, Performance related Variable Pay method to be introduced.
  • DA as on 31.10.2016 can be merged with Basic Pay.
  • Issues like 100% DA and updation are subjudice due to litigation.
  • On improvement in Family Pension, the cost aspect is being worked out.
  • For introduction of 5 Day Banking, the matter needs to be taken up with various stake holders including customers and Government, etc. before any decision is taken.

There was a lot of discussion on these issues. From our side, we informed them as under:

  • IBA should commence the meaningful negotiations by making their initial offer on wage increase.
  • Entire exercise should be attempted to be completed before December, 2017.
  • While we shall meet the top management of the concerned Banks on mandate issue, IBA also should also take initiative to resolve the matter as majority of the Banks have given their mandate for negotiations upto Scale-VII Officers.
  • While we are for better performance, efficiency, more productivity, etc., any differentiated wage compensation will result in subjectivity, unilateralism, discrimination and may become demotivating and counter-productive.
  • On DA merger point, Unions will discuss and come back in the next round of talks.
  • On pension related issues, none of the Unions under UFBU have resorted to litigation.
  • On introduction of 5 Day Banking, IBA should take necessary steps from now on.

IBA took note of our views and it was decided to discuss the issues further in the next round of talks which will be held shortly.

With greetings,

Yours comradely,

P.S: It has been decided to hold a meeting of the UFBU at Mumbai on 13.11.2017 to take stock of the developments taking place in the banking sector and to further continue our struggle programmes as well as to work out our strategies to clinch an early and satisfactory wage revision.


Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top