Bank Wage Revision Settlement Letter to IBA by Union-Main Points

Bank Wage Revision Settlement Letter

  • It is true that so many meetings, rounds of discussions and negotiations have taken place but our core demand i.e. adequate wage increase has not been resolved by the IBA so far.
  • The bipartite talks were commenced by IBA on 2-5-2017 but only on 5.5.2018 i.e. after a period of 12 months, the IBA came forward with their initial offer of 2%. This is proof enough that the delay has been on the part of IBA.
  • Having regard to unabated inflation,increasing workload on the workforce, relativity issues, etc. we have been demanding and expecting a fair and reasonable offer from the IBA so that the issue can be clinched amicably.
  • But IBA had its own plan and had improved the offer to 6% in July 2018 and to 8% in November, 2018, to 10% in February, 2019, to 12% in September, 2019 and now to 12.25% in January, 2020.
  • It took 20 months for IBA to improve their offer to this level knowing fully well that when last time the settlement was at 15% and such lesser offers would not be agreed by the Unions.
  • Hence unless IBA can offer some reasonable and acceptable increase, the issue cannot be clinched so easily as IBA expects.
  • Regarding Performance Linked Incentive, we have repeatedly clarified and IBA too has confirmed that the same would be over and above the wage revision increase agreed at a common level for all the Banks. Now linking it along with the offer on wage revision and giving an impression that the waged revision would be at 12.25% + 2.74% i.e. 14.99% is unfair and hence not proper.
  • Further we have been repeatedly reiterating our demands like adequate additional loading instead of limiting it to 2%, merger of Special Allowance with Basic Pay, 5 Day Banking, defined working hours for officers, updation of pension, etc.,but IBA’s standpoint on these issues is totally negative as observed in the recent meeting held on 13-1-2020 also.
  • Even though we are equally eager to resolve the issues and arrive at a mutually acceptable settlement at the earliest, the IBA’s rigid standpoints does not leave any room to do so.
  • Hence, left with no other option, UFBU had to decide to launch agitational programmes and strike action to highlight our just demands. If there is adequate improvement in the offer and change in the approach of the IBA,we shall certainly consider to review our agitational programmes.

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