In this regard, the labour department will hold conciliatory talks with the Indian Banks Association and union representatives on June 5, 2009.
CH Venkatachalam, convenor, UFBU, told Business Standard that on May 11, 2009, IBA had agreed to take an additional wage load of 15 per cent over the existing wage bill, which would cost the public sector banks an additional expenditure of around Rs 4,125 crore. “However the forum has rejected the offer and expects the IBA to improve the offer keeping in mind the increased work load in the branches,” he said.
He said the unions are open to the New Pension System for new recruits, but this cannot be set as a pre-condition for giving existing employees another chance for pension.
IBA while agreeing to conserve the demands insists that henceforth those who join banks will be compulsory governed by the new pension scheme
Dear Banker,
Why are you wasting time and energy in waiting for wage hike and comparing yourselves with PSUs and Govt Employees.
Your Union Leaders are starting the negotiation with " Pension " and ending with " tension ". Wage revision was never a primary issue for them. It was always a secondary issue. Even the chief of the UFBU in their latest meeting with media after meeting the CLC on 4th June 2009 has informed that " Apart form Pension issue, other issues are ..............................................wage revision etc "
Almost all the meeting scheduled for discussions on wage revision were ended without talking about Wage.
SO enjoy the pension, avoid tension and forget wage revision.
Happy Banking with UFBU
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