NEGOTIATIONS WITH IBA HELD ON 03.03.2014

full text of Circular No. UFBU/2014/21, dated 03.03.2014,
issued by United Forum of Bank Unions
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“As informed in our earlier Circular No. 20 dated 19-02-2014, another round of
negotiations on our wage revision demands was held in Mumbai today between UFBU and
IBA. IBA’s team was led by its Negotiating Committee Chairman Mr. T M Bhasin while
UFBU was represented by all the constituent unions.
Opening up the discussions, Mr Bhasin said that looking to the present performance
and earnings of the Banks and the financial constraints faced by the Banks, it would not be
possible for them to further improve their earlier offer of 10% increase over the cost of
payslip components. From UFBU we stoutly contested their contention and pointed out that
Banks have adequate profitability and hence the offer of IBA needs to be substantially
increased upwards as their offer of 10% is totally unacceptable to the Unions and already
rejected as inadequate. We also drew their attention to the wage accords reached recently in
few other sectors as well as the Government’s mind as reflected in their reference to the 7th
Pay Commission.

The IBA stated that they would be able to negotiate further on our demands or
improve their offer only if the UFBU would specify its expectations or if any counter offer is
given by the UFBU in response to their offer of 10%. From the side of UFBU, we explained
that our expectations or counter offer can be spelt out only if we know the response of the
IBA to the various important issues raised by the UFBU viz. introduction of 5 Days Banking,
defined working hours for officers, improvements in pension scheme like periodical updation,
uniform DA rate for all pensioners, revision in Family Pension formula, switching over from
New Pension Scheme to Defined Benefit pension scheme for the new recruits from 2010,
100% reimbursement of entire hospitalisation expenses of the employees/ officers/ family
members, housing facilities for all employees and officers, etc.
The IBA informed us that they would be able to react or respond only after all these
issues are discussed by them internally and also in consultation with the Finance Ministry
whom they would be meeting on the 5th instant. Hence IBA stated that they would come back
to us on these issues in the next round of meeting which they would be convening shortly.
We have suggested that the next round of meeting should be held within the next 7/10 days
to which IBA has agreed.
During today’s meeting, we also urged upon the IBA to expedite the compassionate
appointment scheme and IBA informed us that they are very much seized of the issue and
would endeavor to speed up the issue with the Government.
Comrades, it would be seen that the negotiations are entering the crucial stage and
hence it is very much necessary to maintain our unity, cohesion and preparedness to respond
to the call of the UFBU as may be warranted.”
Sd/-
(M. V. MURALI)
CONVENOR

UNQUOTE:

1. Whether to accept highier percentage of increase in wages and compromising on other demands?
2. or Accept lower percentage on wages and get improvements in other demands?

This is the tone I hear from the circular.

General employees expect both type of demands should be achieved at a reasonable level.