In today's meeting, we demanded that there should be a time bound programme to complete the negotiations without much delay to arrive at the wage revision settlement at the earliest. IBA also agreed with our views and informed that the same can be worked out by mutual discussions. Today we also demanded that the wage revision should be effective from 1st November 2012 and that the new pay scale should be constructed by merging the DA at 4876 points i.e. the DA applicable to July- September 2012 quarter. We also insisted that the IBA should make their offer on the percentage of wage load acceptable to them. For this, the IBA informed us that they would consult the higher authorities in the Government and inform us in the next round of discussions. The IBA suggested that the pay scales could be constructed by merging the DA applicable upto 2009. We did not agree to this proposal. This issue will be discussed further.
In today's meeting the IBA also explained their issues like introduction of Cost to Company, Performance related wage, restricting the wage revision, increased mobility to award staff, rationalisation of Special Pay etc. While expressing our reservations and viewpoints, we suggested that these issues can be reverted during subsequent discussions.
From the UFBU we also submitted that in the proposed wage revision, the hike in wage load should be exclusive of the cost on pension and other superannuation benefits and also the cost of hospitalisation expenses reimbursement. The IBA informed that this would be kept in mind by them. The IBA informed that they will shortly inform us the date for the next round of negotiations. Further developments will be informed in due course.