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Bank wage talks begin; managements yet to make offer

Banking union sources said there was a meeting on 11th bipartite wage revision

Indian bank, PSB,
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Indian bank branch

Abhijit Lele Mumbai
Wage negotiations between bank employees and managements got off the ground with an aim to finalise the package by October-end.

United Forum of Bank Unions (Ufbu) is representing officers, employees, and staff organisations. Indian Banks’ Association (IBA) is representing bank managements.

Banking union sources said there was a meeting on 11th bipartite wage revision. While unions have already submitted a summary of demands, IBA may place its offer in 7-10 days.   

Sanjeev K Bandlish, convenor, Ufbu, will lead the team from workers’ side. From bank managements’ side, a panel of bankers headed by R K Takkar, managing director and chief executive officer