Bank unions to meet IBA over wage revision

A crucial meeting between the representatives of the United Forum of Bank Unions (UFBU) and the Indian Banks Association (IBA), slated for tomorrow, is likely to discuss wage revision and other demands of about 10.5 lakh bank employees and officers in the country.

Talking to PTI over phone today, UFBU Convener C H Venkatachalam said the offer to discuss the long-pending issues was made by the IBA, the apex body of bank managements, following the nationwide strike by employees on August 6-7.

After the "success" of the two-day strike, the IBA informed them that they have finalised a package that envisages 17.5 per cent increase in wages and New Pension Scheme (NPS) for new entrants from April 2010, among other things, he said.

Compassionate appointment issue would be discussed separately, Venkatachalam said.

The UFBU, at a meeting on September 7, discussed the IBA package and decided to pursue it with the association in tomorrow's meeting in Mumbai, he added.