11th Bipartite Wage Agreement for Bank Employees – 8% increase offered by IBA
11th Bipartite Bank Wage Settlement – Bank Unions share Talks with IBA on wage revision – 8% increase in Bank Employees Pay proposed by IBA, the managing body of all Nationalized Banks
CIRCULAR NO. 31
TO ALL AFFILIATES & MEMBERS
- Talks with IBA on wage revision – Offer increased to 8%
- UFBU meeting – Call given for All India Strike on 26th 2018 against amalgamation of Bank of Baroda, Dena Bank and Vijaya Bank.
We reproduce hereunder the Circular No. UFBU/2018/20 Dated the 30th November 2018 issued by Com. Sanjeev K. Bandlish, Convenor, United Forum of Bank Unions (UFBU), for information of all affiliates and members.
With revolutionary greetings,
(SANJEEV K. BANDLISH)
“After the last round of discussions held on 12-10-2018, there was another round of Bipartite Talks between IBA and UFBU today in Mumbai. IBA team was led by Shri Rajkiran Rai G. (MD & CEO of Union Bank of India) Chairman of the Negotiating Committee of IBA. UFBU was represented by leaders of all the nine constituent unions.
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 pay slip components, IBA today 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.
We have requested the IBA to hold further discussions at the earliest and also hold Sub Committee meeting to sort out other remaining issues raised by us in the Charter of Demands. IBA agreed to this suggestion.
UFBU MEETING: Thereafter, meeting of the UFBU was held at AIBEA Office. While taking note of the improved offer of IBA, the meeting expressed its disappointment that the revised offer is totally inadequate to meet our expectations and further noted with concern the attitude of the IBA in not coming forward to resolve the mandate issue. The meeting decided to pursue these issues vigorously.
WE OPPOSE MERGER AND AMALGAMATION OF THE 3 BANKS – ALL INDIA STRIKE ON 26-12-2018: Regarding the proposed amalgamation of Bank of Baroda, Dena Bank and Vijaya Bank, the meeting noted that the Government and the concerned Banks were moving ahead with their decision and hence it was decided to give the call for observing All India Strike on 26th December, 2018.
Separate circular with other preparatory programmes will be issued shortly. We call upon all our constituent unions and members to start preparations for this strike action.
Comrades, we are passing through challenging times and hence our unity and united approach will be highly imperative to face these challenges and attacks.”