Wage Revision Talks update / 10th Bipartite Settlement Talks update

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    C. Updates of Wage Revision Talks

    1. Department of Financial Services, Ministry of Finance, Government of India, assured UFBU to advise IBA to resume talks on wage negotiations.
    2. UFBU met on 15th July 2014 in Mumbai and decided to demand from IBA to expedite wage negotiations by calling for meeting immediately and also decided to chalk out strategies for an early wage revisions.

    3. UFBU is meeting on 15th July 2014 in Mumbai to discuss/decide further course of action regarding wage negotiations

    4. Bank Unions Meeting Dated 27.06.2014 With Arun Jaitley Finance Mininster Press For Early Bank 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.

    UFBU Convener M V Murali said -

    "Despite a lapse of 20 months since the start of negotiations, no significant improvement has been made towards expeditious conclusion of settlement. Moreover, IBA is offering the least increase quoting non-affordability of banks in paying higher wages partly because of increase in Non-Performing Assets (NPAs),"

    Ashwini Rana General Secretary National Organisation of Bank Workers (NOBW) said

    "We are still waiting for our 'ache din' (good days) under Modi Sarkar"

    The wage revision of public sector bank employees has been due since November, 2012.

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