10th Bipartite Settlement -
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Meeting WAGE REVISION:
Representatives of United Forum of Bank Unions, comprising mainly of PSU bank employees, today (on 27.06.2014) met Finance Minister Arun Jaitley and sought his intervention for early settlement of wage revision negotiations.
General Secretaries of nine employee unions under the UFBU umbrella were present, along with CPI member of Parliament D Raja, at the meeting with the Finance Minster.
UFBU Convener M V Murali said after meeting ---- UFBU submitted representation to the Finance Minister and apprised him of developments with regard to wage negotiations with Indian Banks' Association (IBA),
He said the Finance Minister assured the delegation that the Financial Services Secretary would look into the matter and the settlement process would be expedited.
The delegation informed that more than 10 rounds of discussions have taken place between bank management and UFBU so far on the issue but IBA is delaying the settlement.
The spiralling cost of living and the high rate of inflation in the last few years has made the life of common man miserable, he said, adding that as against the reasonable demand of 25 per cent increase in the pay slip components, the IBA has offered a very meagre 11 per cent increase
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00nd week August-2014...
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FB NEWS...
the finance ministry has unshackled public sector banks from decades-old practice of uniform wage increases for nearly 10 lakh staff and permitted 26 lenders to provide salary raises based on performance, two bank chairmen said. But it is the trade unions that will decide whether the move succeeds. Rajiv Takru, secretary (financial services), told bank chiefs at a meeting on Wednesday that they are free to provide increases provided they have been performing well. But weak banks have been ordered to limit increments to about 10% as the pile of bad loans may not justify asteeper increase, said bank chairmen who attended the meet but did not want to be identified.