Bank unions concerned over slow progress of wage talks

The United Forum of Bank Unions (UBFU) has expressed concern over the slow progress of negotiations underway to settle the 10th bipartite wage revision accord.

In a letter to the Chief Executive of Indian Banks’ Association (IBA), which represents the management, the UBFU recalled the minutes of the discussions signed on February 23 between the two parties in this regard.

Terms agreed

The understanding was that the wage negotiations will be concluded within 90 days, which falls on May 22.

An important issue on which consensus was reached was that every second and fourth Saturday of every month will be a holiday and other Saturdays will be full working days.

It was decided that all issues of the managements and unions/associations discussed during the process of negotiations will be settled based on mutual satisfaction.

The parties will meet on mutually convenient dates to draw out a detailed bipartite settlement/joint note on various issues on which consensus has been reached.

“The parties will endeavour to finalise the bipartite settlement/joint note within a period of 90 days,” the minutes of the meeting of February 23 had said.

Peripheral issues

In the letter dated April 28, the UBFU pointed out that only peripheral and non-monetary issues had been discussed so far in the sub-group meetings held in the interregnum between its representatives and the IBA.

What was of immediate concern was that discussions on construction of pay-scales and settlement of other important monetary issues are yet to take place.

The UBFU letter sought to remind the IBA that the deadline for conclusion of negotiations, according to the minutes of the discussions signed on February 23, “is fast approaching.”

It requested that meetings with UBFU representatives be held at regular intervals in order to arrive at a settlement on wage revision and other service conditions well within the agreed time limit.

The United Forum also requested the IBA to keep it updated on the latest developments in the matter.


Source : Thehindubusinessline