Bank mergers cast shadow on wage negotiations between IBA and unions

Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike

The terms of the ongoing negotiations between the Indian Banks’ Association (IBA) and bank unions over the 11th bipartite settlement may have to be reworked, following the announcement of big bank mergers of state-run banks.

The IBA has formed a sub-committee on performance-linked incentives. The matter will be discussed at its first meeting in New Delhi on September 11.

The sub-committee, headed by State Bank of India’s (SBI’s) Deputy Managing Director Prashant Kumar, was set up after the last meeting between the bankers’ lobby and the United Forum of Bank Unions (UFBU) in Mumbai on August 29.

“Talks on the