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Bank unions revise demands, to seek pay rise of 20% at IBA talks

The key reason behind UBFA's revised demand from the 15 per cent earlier is that the gap between what bank employees earn when compared to those in the government's equivalent grade has widened

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The United Forum of Bank Unions (UBFA) has said it will seek a 20 per cent pay hike when talks resume with the Indian Banks’ Association (IBA) on August 29 to seal the 11th bipartite wage settlement.  The key reason behind UBFA’s revised demand from the 15 per cent earlier is that the gap between what bank employees earn when compared to those in the government’s equivalent grade has widened. It was pointed that even after a 20 per cent pay hike, this difference will stand reduced only at the beginning of the scale, but it will still be at about half of the ...