Hope On Wage Talk

Wage Revision 12th Meeting between IBA and UFBU on 13.06.2014

IBA initiated for next wage talk on 13.06.2014 in response to UFBU major constituent AIBOC request as report received. The meeting will be held in Mumbai at 12 Noon. Before scheduled meeting UFBU constituent will meet at 10 am.

The AIBOC General Secretary Mr Harvinder Singh, General Secretary, AIBOC has written a letter to IBA requesting them to reinitiate and expedite the process for wage revision, vide their letter dated 30.05.2014.

As Sri Harvinder Singh statated in their letter “One year and seven months have passed since Officers and Workmen Organizations in the Banking Industry submitted their Charter of Demand for 10th Bipartite Settlement. The slow pace with which the negotiations are taking place cannot be appreciated by any one of us, whatever may be the reason. No meeting has taken place on the issue for the last three months. The situation is alarming and causing lot of anxiety and frustration amongst the officers and workmen in the Banking Industry which is bound to affect their productivity and efficiency. The growing disparity in the pay structure of the staff of Banking industry vis-a vis the Govt. employees and the apathy shown so far by the earlier Govt., to give a fair deal in the Xth Bipartite Settlement is really agonizing. With the new Government taking over, hopes have been raised as all sectors of the economy have already started looking up. In view of this scenario, the attrition rate in the Banking Industry, which is already starving with the competent and experienced staff, will go further high with opportunities opening out in other sectors.

The AIBOC reminded new govt that the Prime Minister of India, Sh. Narendra Modi has set out a hundred day agenda for governance. One of the main action points desired in this agenda is improving the delivery by decision making. We request you to kindly take immediate steps and initiatives to initiate the discussions on the Salary Revision, so that we in the Banking Industry also contribute towards the new goal set by our Prime Minister and set an example of good governance.

As mentioned in the letter, “We are confident that this agenda of ours will be written in the golden letters as contribution of the Banking Industry. We once again assure you to rededicate ourselves in extending our full cooperation in achievement of the agenda of social developments set forth by the Government / Bank Managements”.

It is memorable that AIBOC GS Sri Harvinder Sigh all-ready met with Sri Narendra Modi and Sri Arun Jaitely during election campaign and got positive response of both at that time.

Now it is reported by banking industry sources that in response to AIBOC letter IBA came into activity and then fixed next talk of 13.06.2014.

As per our sources IBA is thinking over addition in constituent of negotiating committee members with formation of new govt. It is expected that some more govt like minded unions may be added in UFBU then final negotiation will take place.

The news of wage talk spread over bank employees as govt positive initiative. This meeting will surely not provide any result but it will be a re-start of pending talk. The wage talk was pending after 14.03.2014.