Wage Revision Negotiations details from INBEF

Indian National Bank Employees’ Federation

(A Banking Wing of INTUC)

C.O. : 2202 9887

M.M.O.: 2265 2688 FAX : 2288 4783 E-mail:

cbeu1950@gmail.com Bajaj Bhawan, 1st Floor, Nariman Point, Mumbai

CIR/INBEF/GS/SSS/2014/13 18th September, 2014

Dear Friends,

WAGE REVISION NEGOTIATIONS- 17.09.2014.

The representatives of UFBU met at 11.00 a.m. to discuss and decide the strategies to be adopted in the negotiations with IBA. It was decided that along with the percentage increase in its offer, other important issues like regulated working hours, 5-day week, and improvements in pension related matters should be raised simultaneously.

In the IBA meeting, Sri Bhasin, who was the Negotiating Committee Chairman till the last meeting and now elected as Chairman of IBA introduced the newly constituted Negotiating Team of IBA under the leadership of Sri Rajeev Rishi, the newly appointed Chairman of Negotiating Committee. Subsequent to brief introduction and completion of formalities, before commencement of negotiations on wage revision, UFBU raised the following issues:

Compassionate Appointment Scheme: While thanking the IBA for its efforts and being instrumental in getting clearance of the Government for introduction of Compassionate Appointment Scheme on the lines available to Central Government employees, UFBU sought clarifications on issues like eligibility, applicability with regard to death cases prior to 05.08.2014, etc., to which IBA conveyed that the matter would be referred to Government and necessary clarifications will be issued on receipt of their advices;

Accounts to be opened under Jan Dhan Yojana: While appreciating and extending the support of UFBU to the initiatives taken by the Government towards extension of banking facility to all the people in the Country, UFBU expressed the following apprehensions:

The compromises on KYC norms may lead to opening of fraudulent accounts for which employees should not be held accountable;

The pressure due to the targets stipulated for opening of accounts are greatly affecting the regular banking activities and services to existing customers; Due to the stipulation on timings for opening of accounts from 8.00 a.m. to 8.00 p.m., employees are forced to work beyond their working hours and are also under severe stress to achieve the stipulated target.

During the negotiations, IBA informed that the UFBU’s demand of 25% increase in pay slip components is on high side and beyond the paying capacity of banks and insisted that UFBU should review its demand, to which UFBU responded as under:

IBA should substantially revise its offer of increase in pay slip components;

The other important issues like regulated working hours, 5-day banking, improvements in pension related matters, etc. should be discussed simultaneously and in a time-bound manner;

The meetings on negotiation have to be held regularly at frequent intervals ensuring expeditious settlement;

UFBU will have flexibility in its demand depending upon the response of IBA on all the above matters.

IBA assured us to schedule the next round of meeting within one week to discuss comprehensively on all the issues. Comrades – every effort is being made by UFBU not only for expeditious conclusion but also for a respectable Tenth Bipartite Wage Settlement. Let us continue to maintain our unity which would strengthen us in achieving our goals.

Further developments will be advised in due course.

Thanking you,

Yours sincerely

Subhash S.Sawant

General Secretary

Source: INBEF