During the discussions held today, after protracted negotiations, IBA finally agreed to improve their earlier initial offer of 5% on cost of Pay slip components (which amounted to Rs. 1575 crores ) to 9.5 % (amounting to around Rs. 3000 crores) which is exclusive of retirement benefits and other costs. The IBA also reiterated that they would expedite the negotiations and conclude the Settlement by June, 2014. IBA further informed that the next round of negotiations will be held on 27th January, 2014.
From our side, while explaining the rationale behind our charter of demands, we pointed out that their offer needs to be further enhanced before we can reach any finality. However, looking to their improved offer and assurance to expedite the settlement, it was decided to defer our agitational programmes and proposed strike action on 20th and 21st January, 2014.
We congratulate all our unions and members all over the country for their enthusiastic preparation for the strike which has resulted in the above outcome.
BEFI circular says......
During the talks IBA while reiterating their issues like CTC, Mediclaim scheme etc, suggested that before any revised offer is given them, UFBU has to assure that they will not be going on strike on 20-21st January. This stance of IBA was not acceptable to UFBU and its representatives said IBA should first come out with their revised offer and only then UFBU will be able to say something new on its strike decision.
This position taken by UFBU mounted pressure on IBA and they gave their revised offer of 8% increase on pay slip components. Responding to this UFBU said that with this increase it is not possible for them to rethink on their strike call.
Arguments and counter arguments with some break in the discussion continued for some time and ultimately IBA went up for 9.5% increase of pay slip components (which was Rs 31,105 crores as on 31.03.2012) that includes, BP. DA, Special Pay, CCA, HRA, Conveyance Allowance paid with salary, FPP, Annual Medical Aid.
Responding to this UFBU said that this can be the basis of further negotiation and for that immediate date for next talks should also be fixed by IBA today itself. IBA agreed to hold next talks on 27th January, 2014.
In this backdrop UFBU decided to defer the strike call on 20-21 January, 2014.
Comrades, there is some progress in the process of negotiation due to our agitational programme including strike action.