UFBU CIRCULAR NO. 7 dated 22-4-2013:
A round of discussion was held today in Mumbai between IBA and UFBU on our charter of demands for revision of wages and service conditions. The IBA was represented by the negotiating team headed by Mr. T M Bhasin (CMD Indian Bank and Senior Vice President, IBA). UFBU was represented by the constituent unions. NOBW could not be present due to their pre-fixed agitational programme in Delhi.
During this meeting, IBA provided the detailed data relating to establishment expenses of the banks as on March 31st 2012, which will be taken as the basis for calculations in the ensuing wage revision exercise. According to the data, the total establishment expenditure/wage bill of the public sector banks as on 31-03-2012 comes to Rs.56,292 crores for workmen and officers put together.
The IBA also submitted the following Management issues for discussions by UFBU.
- Introduction of Cost to Company.