Why it's sunset time for bilateral wage talks for state-run banks

What's dawning on all concerned is there is simply no way that state-run banks can dole out equal hikes to their staffers as has been the practice through the decades

There is nothing more unequal than the equal treatment of unequal people”, said Thomas Jefferson. It has taken state-run banks, and the Indian Banks’ Association (IBA) more than half-a-century to realise this – it’s the reason why the industry-wide wage pacts known as “bilateral agreements” – in effect since April 1, 1966 – are now in tatters. The brotherhood of workmen and officers’ unions – the United Forum of Bank Unions (UFBU) – is no more; separate agreements with the IBA are on the cards.
 
It is a new formula under which state-run banks will be given the flexibility