Wage talks between bank employees unions and banks to start on July 28

Much awaited negotiations between the bank employees unions and banks on wage revision will commence on July 28.

All India Banks Employees’ Association (AIBEA) in a statement said there was a round of discussions between United Forum of Bank Unions (UBFU) and Indian Banks' Association (IBA). The talks were mainly to discuss the Group Medical Insurance Policy for the retirees.

C H Venkatachalam, General Secretary, AIBEA said after discussions, IBA informed that the negotiations on Charter of Demands will be held on July 28,2023.

Unions also raised the issue of introduction of five banking Days per week as per the understandings reached with the IBA earlier. IBA informed that the issue is under active consideration of the various stake-holders. “We asked the IBA to expedite the same so that five Banking Days per week is introduced without further delay”, AIBEA said.

During the course of discussions, Unions demanded that the issue of updation of pension should be resolved as early as possible. They pointed out that to bring all pensioners at par, 100 per cent Dearness Allowance should be extended to pre-November 2002 pensioners. This way the issue of updation can be addressed effectively.
 

“IBA was positive to our demand and agreed to work out an amicable resolution of this issue at the earliest”, AIBEA claimed.

On issue of Medical Insurance Policy for retirees, AIBEA said they agreed that a separate uniform Base Policy for Rs two lakh will be worked out for the retirees with certain ceilings and caps on bed charges and package treatments. This would reduce the burden of the premium on the same.

Over and above this uniform Base Policy, top-up scheme upto Rs 10 lakh will be made available on optional basis. Minutes have been signed between Unions and IBA. IBA can proceed with a Request for Proposal (RFP) based on this revised scheme, the Union body said.