Bank staff should wait for definition of pay slip hike, it is a new term----wait for what union leaders explain and enlighten on this issue----There may be some hidden meaning--- after all union leaders cannot withdraw strike for such low hike of 9.5 % when their demand was 30%---- Either there may be some hidden understanding or some threat or some broader meaning of 9.5% pay slip hike---- wait for details whether union leaders have achieved some big thing or they want to fool members.
Bank strike deferred-Business Line 17.01.2014
K. R. SRIVATS
NEW DELHI, JAN 17:
The bank strike called by the United Forum of Bank Unions (UFBU) for January 20 and 21 has been deferred.
This follows Indian Banks' Association (IBA) improving their initial offer from 5 per cent to 9.5 per cent on the payslip cost, AIBEA General Secretary, C.H. Venkatachalam, told Business Line.
"We are satisfied with the IBA offer made at today's meeting. So we have deffered the strike,” Venkatachalam said.
The next round of talks between IBA and UFBU, representative body of nine bank unions, will now happen on January 27.
http://www.thehindubusinessline.com/industry-and-economy/banking/bank-strike-deferred/article5586386.ece
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Wage revision talks: Bank unions may demand 30% pay hike-Business Line 16.01.2014
KOCHI, JAN. 16:
As the Indian Banks’ Association and the United Forum of Bank Unions return to the negotiating table on Friday at the directive of the Chief Labour Commissioner, the bank unions are likely to demand a 30 per cent rise in gross pay.
Though a wage-revision settlement, to be in force for five years, might still be far away, the outcome at Friday’s bilateral talks will determine if the January 20-21 all-India bank strike will take place.
“If the IBA takes a positive and reasonable approach to our demands, we will call off the 48-hour strike,” UFBU convenor M.V. Murali told Business Line. “But if they keep harping on the old stand, we will go ahead with the strike.”
The bilateral talks are being held at the instance of the Central Chief Labour Commissioner, who held a round of conciliation talks with the two sides on January 13 in New Delhi. The talks on the wage-revision pact were held in view of the unions’ decision to go on with the strike.
The CLC, B.K. Sanwariya, had asked the IBA to advance the bilateral talks, scheduled for January 29, to January. 17. There was an agreement at the tri-partite talks not to drag the wage negotiations on for long and wrap up the process by June.
Asked about the quantum of pay hike the unions would press for at the negotiations, Murali said: “We are asking for a 30 per cent increase in the gross pay received by bank employees and officers.”
He said this was very reasonable in view of the double-digit price rise in the country and increasing workload of the bank staff.
The IBA, which represents the managements of nationalised, private and foreign banks in the country, had offered only a 5 per cent rise in the ‘payslip component’ of salary. “Actually, this will mean about 3 per cent of the gross pay,” Murali rued.
http://www.thehindubusinessline.com/industry-and-economy/banking/wage-revision-talks-bank-unions-may-demand-30-pay-hike/article5583155.ece
SAIL wage revision soon; annual outgo to rise by Rs 1,000 cBusiness Line 12.01.2014
NEW DELHI, JAN 12:
Annual wage outgo of SAIL will go up by at least Rs 1,000 crore with the PSU set to sign a pact with its 85,000 non-executives for a 16 per cent hike in basic and dearness allowances and six per cent rise in perks.
Wage revision in SAIL, done every five years, is pending since January 2012 due to differences on the extent of hike between the company management and its unions’ umbrella body, National Joint Committee for Steel (NJCS).
“The management and the unions have nearly reached an accord at the last meeting held in December. It will be given a final shape in the form of an agreement in the next meeting slated later this month,” a source involved in the discussions told PTI.
At the last meeting, the management conveyed to the union representatives that given the current scenario of the steel industry, it would not be able to shell out more than 16 per cent hike in basic and dearness allowances apart from a 6 per cent rise in perks and pensions each.
Union representatives involved in wage talks were demanding between 17 and 18 per cent hike, the source said, adding the management has asked them to come back with a consensus in next meeting.
Initially, the union had asked for a 21.6 per cent hike, similar to the rise in 2007, in basic and dearness allowances.
However, the management said given the current market condition of steel in which consumption grew by just 0.5 per cent during the April-December period, an encore of 2007 is just not possible.
“Even if the unions agree with management’s proposal, it will add at least Rs 1,000 crore burden on wage front for SAIL each year. Since the revision has been pending for two years, the immediate outgo will be over Rs 2,100 crore,” the source said.
SAIL has already made the required provisions for paying out majority of the arrears and the disbursement would be made soon after the wage revision pact is signed.
The company’s net profit more than doubled to Rs 1,180 crore in the July-September quarter, although realisation fell by 6.5 per cent on subdued prices. Its employee expenses, however, went up to Rs 2,495 crore during the quarter from Rs 2,090 crore in the same period a year ago.
I do not think that the UFBU is going to achieve a respectable and reasonable wage revision at this juncture. The IBA with a hidden agenda, has offered 9.5% on pay slip cost, which will fetch only less than 6% on gross pay. The decision to defer the strike based on this offer now kicks doubts about the UFBUs plans. We also do not understand what is PLAY SLIP COST and only IBA and UFBU knows. However, I feel that we have to eat the dust.
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