Bank strike deferred: Employees get 15% wage hike; Offs on second, fourth Saturdays

Moneylife Digital Team 23 February 2015

Trade unions finally managed to get a good deal -- a 15% hike in wages coupled with second and fourth Saturday off -- from bank managements after protracted negotiations

Bank unions across the country have decided to defer their 25th February strike following negotiations with the Indian Banks' Association (IBA). As per the settlement, bank employees would get a 15% hike in wages from 1 November 2012 as well as holidays on every second and fourth Saturdays. Following the settlement, the four-day strike of employees from nationalised banks scheduled to start from 25th February has been deferred, said CH Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA).

Though bank employees would have second and fourth Saturday off, they will have to work for full day on the first and third Saturdays.

In a statement, IBA said, "Both sides agreed to work out detailed Bipartite Settlement/ Joint Note within 90 days. UFBU representing five workmen unions and four officers associations, NUBE and BKSM were parties to today's agreement."

The wage hike will be applicable to nearly 10 lakh employees in public sector banks, old generation private sector banks and some foreign banks, Mr Venkatachalam said.

The strike call was given by United Forum of Bank Unions (UBFU), which has more than 10 lakh employees and officers of banking Industry under its umbrella. The UFBU is an umbrella organisation comprising of nine bank staff unions. According to earlier reports, there are 27 public sector banks in the country.

Public sector bank employees have been calling for a wage revision from November 2012 and various talks with the IBA were not successful even though the Unions have been conducting strikes over the years.

Comments

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Radhakrishnan Subramanian

8 years ago

Any reason why the Unions are observing this tight silence on what is in store, if at all any, for the pensioners in general and pensioners who retired prior to 2002, in particular. Though Bank pension is also as per rules and regulations of Central Pension Scheme, no revision is considered so far though Central Govt. employees and State Govt. Pensioners are benefitted upon implementation of the pay Commission report. Why this anomoly. Acchhe dhin aayega kya nahi.

Sushil Jain

8 years ago

Sir,why not at this time of wage revision negotiation , the leaders have NOT discussed the matter of REVISION OF PENSION,which should be LINK WITH THE EVERY REVISION OF WAGE, REASON ,[Though it is NOT in Bank Employee's pension regulation] IS BEST KNOWN TO them [leaders]ALL RELATED,leaders the EMPLOYEE, The day will come soon when today's leader shall come in the same line of Retired employees. HENCE THEY MUST HAVE TAKEN UTMOST CARE OF OLD / AGED persons for medical benefits . Further NO consideration of every retired bank senior citizen,to get the Medical Treatment .one more thing , why an officer is getting the HRA ,150% on capital cost basis,it should be stopped with immediate effect,why not a normal HRA is to be paid , in this Xth BPS , PLEASE CONSIDER IT OTHERWISE. It is understand that in a bank on retired bank employee , some banks are giving medical benefits to retired employees that too is little amount, Bank as a whole should take / ask the retired employee to join mediclaim policy and the premium be born by the BANK.

Ravi Patnaik

8 years ago

No respite for Bank Pensioners from penury.

Gurudutt Mundkur

8 years ago

Glad that the "poor guys" are getting relief. Or else they would have been starving and begging on the streets within the next three or four months!