Bank unions seek government intervention to settle wage revision

The central government's intervention in early settlement of wage revision, timely appointment of workmen directors, and merger of regional rural banks (RRB) with their sponsors were some of the demands submitted by two bank unions to Finance Minister Arun Jaitley Thursday.

Representatives of two major unions - All India Bank Employees' Association (AIBEA) and All India Bank Officers Association (AIBOA)- met Jaitley in New Delhi and submitted a memorandum listing their various demands.

According to the memorandum, a copy of which was shared with the media, the two unions urged Jaitley's intervention on the long-pending issue of wage revision.

The two unions urged Jaitley to advise the Indian Banks' Association (IBA) to adopt a reasonable and fair approach.

"We assure that we would not lag behind in reciprocating the same os that an amicable solution is worked out immediately," the unions said.

Unions in the banking industry have called for a nationwide four day strike from Feb 25 followed by an indefinite strike mid March onwards demanding wage revision.

Citing the non-appointment of employee directors in Canara Bank, Union Bank of India and Corporation Bank, the unions sought Jaitley's intervention to expedite such appointments.

According to AIBEA and AIBOA, the central government should merge the various RRBs with their sponsor banks which in turn would expand the network and reach.

The unions also urged Jaitley to allow all cooperative banks to open accounts under the Jan Dhan Yojana instead of restricting to only those having the core banking solution.