Business Standard
Friday, Jun 01, 2012
Sponsored by  
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Commodities
 

UFBU blames IBA for failure of talks on wage rise
Press Trust of India / Vadodra Jun 08, 2009, 14:49 IST

The United Forum of Bank Unions (UFBU) has blamed Indian Banks Association (IBA) for failure of talks on their demand of wage revision for about 9 lakhs bank employees and officers across the country.     

UFBU convener C H Venkatachalam told PTI today that wage revision is due since November 2007 and UFBU consisting of nine bank unions representing the banks employees and officers across the country, has been adopting positive approach on their demands .     

Instead of appreciating it, the IBA wants to attach preconditions before negotiations for arriving final settlement which is not acceptable to UFBU, Venkatachalam asserted.     

Chief Labour Commissioner (CLC) had called for a conciliation meeting between IBA and UFBU on Thursday, following latter's' call for a strike on June 12.     

UFBU in the meeting explained their demands and the compulsive need for the strike call to CLC.     

IBA informed that while they have already made an offer of 15 percent increase in the wage bill, they are also willing to extend another option to the PF optees to join the pension scheme and were also willing to work out a mutually acceptable formula for sharing the cost of the identified additional liability.

Vekentachalam insisted on a new contributory pension for the future employees citing IBA's statement that looking to the increasing cost of pension, it would be difficult for banks to continue toe increase was inadequate and needs to be substantially improved."     

They (UFBU) also said that while the unions would be willing to discuss any reasonable demand of the managements to find amicable solutions, the present demand to give managements a free hand to outsource all permanent and perennial jobs is not acceptable to us.     

While pointing out the UFBU has already made a reasonable offer to share the additional cost of pension option, they, however, clarified that IBA's pre-condition that unions should agree for introduction of new pension scheme for the future employees is unfair and not acceptable, UFBU leaders said.     

After hearing both the sides, CLC advised that both IBA and UFBU should sit across the table within seven days for a meaningful dialogue to sort out the issues.     

UFBU agreeing with the advice, expressed its willingness to have further talks to explore the possibilities of an amicable settlement.     

However, IBA insisted that unless the UFBU withdrew the strike, they would not be willing to hold talks.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets post worst May performace since 2006
- US jobs data points to recovery losing momentum
- FII-TO-FII TRADES: PNB traded at 5% premium
- Sugar output up at 25.5 million tonne this year surpasses govt estimate
- CoalMin identifies 54 blocks for allocation through auction
  Read Business news in 
- Help a Child Achieve her. Click to know more
- Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol.
- Watch The Film Here. Click here to know more..
- 1 billion in saving for Unilever without any tangles.
- One Partnership Endless Possibilities. Click here to know more
- Which is the best plan for your daughter
- Check out the TRUE COLOURS of your Stocks, Now for FREE!
- One of the leading business schools in the world.Know More
Sorry, comments to this story are closed
Latest Messages
Posted by: sandeep
For past many wage negotiations, we have placed various types of demands, but why is that we do not demand for running scale, why is it that after putting in 16-18 years of service & thereby gaining experience of that much years, why is it that we stop getting increments. we should wholeheartedly strive for running scale;
Posted by: SHYAM
It is very strang to see that a class IV employee of govt of india get Rs.12000 a month while the clerk in a bank get only Rs.7000 a month. The nature of work is quiet different between the two. The risk factor is more
    Posted by: AJMERBEHL
stepmotherely treatment with bank empolyees should be stopped immediately.Bank employees shoul be treated at par with other PSU employees.working conditiones in banks have changed a lot now full of tension & resposibilities.settlement should not be less than %.
Posted by: Neeraj
I appeal to the Central Government to direct the Public Sector Banks to revise the pay of the bankers at par with the officers and employees of similar length of service in the central government. Moreover , the so called " negotiations " hovering around the base level of 15 to 20 percent hike are wastages of everybody's time and energy and deserve to be scrapped.
    Posted by: rlk
At least 30 percent hike in scales and wages to be increased for looking to the risk and responsibilities are faced by the bankmens. All the departments are agreed their demands towards revision of salary but for the bankmen, talks are unnecessarily lingering by the iba and increasing frustration amongst bankmen. Hence, fruitful negotiations to be made with ufbu and issues to be sorted out immediately.
Posted by: Sandeep
I really feel disappointed towards the step motherly treatment meted out to Bankers, even though the amount of tensions heaped upon us are escalating day by day, on top of that, the Govt. is offering a measly increase of 15%, whereas it has offered nearly more than 60-80% inc. to some organizations without their asking. Govt. should offer decent increase in our salaries and also abolish Banking Ombudsman and give us power to kick any customer who misbehaves with us.
Posted by: raktim
The employees of central govt. are getting near about 40% hkie in their pay scale .Why is such disparity continued even though jobs in banks are even more risky than most other jobs.
    Posted by: SHASHIPRAKASH
The central government employees work for five day in a week with regulated working hours generally from 10 am to 5.00 pm However I have not seen a banker comming back from office before 7.00 pm and the banks are working for six days. I request Govt to consider the wage negotiation at par with profit making PSU's as early as possible.
    Posted by: rampratapgodara
yes i am fully agree with this comment .
Posted by: sathyanarayana
Dear sir, I think that we are almost about to reach a settlement on all the points raised by UFBU. We are going to see the end of the struggle in respect of this settlement very shortly(GOD WILLING). All the best to everybody.
Table for Two
  Now available at Special price
  Rs.280/- Only

  Buy Now
BS POLL
UPA 2 has completed three years. How do you rate its performance?  Read the story
  Good
  Average
  Bad
Submit
Most Popular
Read
E-Mailed
Commented
   
- Slowdown gets worse, GDP growth sinks to 9-year low
- India Inc ready to shift to other side of the dot on www
- M&M has a Rs 7,500-cr spending plan over three years
- India to be $2-trn economy by FY13-end?
- IIT alumni to move court on changes in JEE
 
 More  
New Ipad Application
 Business Standard's all new IPad  App
 Click here to download for free
  Hot Searches  
 
Apalya |  Air India |  GAAR |  Agni  |  Solar eclipse |  Satyamev Jayate |  SRK |  Aamir Khan |  IPL |  Ertiga |  Sarfaesi Act |  Vodafone |  JP Morgan |  Transfer pricing |  Rupee |  Kingfisher Airlines |  Silver |  Provident Fund |  income tax refund |  iPhone |  Reliance Industries |  SEBI |  BSNL |  BSE |  NSE |  Mukesh Ambani |  Anil Ambani |  Infosys |  Pranab Mukherjee |  Sonia Gandhi |  Rahul Gandhi |  New Pension Scheme |  Reliance |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  B-School |  Sensex |  Tax calculator |  Home Loan |  Personal Finance |  inflation |  oil prices |  Barack Obama |   
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World | General News
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us