Bank officers plan wage stir

The All India Bank Officers' Confederation (AIBOC) has decided to go in for a nation-wide strike and other forms of agitation if the Indian Bankers's Association does not agree to its demand for 20 per cent hike in salary.

A 20 per cent hike in wage bill would impose a Rs 3,000 crore additional burden on banks. The banks have offered a 8.8 per cent hike with effect from October 2002 when the earlier wage agreement expired.

"We had asked for a 30 per cent hike and have scaled it down to 20 per cent, which if not agreed to by the bank managements would result in wide-spread protests from the officers which will also involve strikes," explained, Santha Raju, general secretary, AIBOC while addressing the press in town today.

"The next meeting for salary negotiation was due in July and if the management does not agree to our demand we would initiate protests," he added.

Referring to performance of the banks he said that bank officers deserve a fair and equitable revision in the background of excellent performance of the banks.

"All banks in both public and private sector have recorded substantial profit growth, a portion of which should trickle down to employees in the form of a 20 per cent hike in their salary," said the general secretary.