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Wage Revision: 10 lakh bank employees to go on two-day strike against 2% hike

Bank strike

Hyderabad: In view of failure of talks held between United Forum of Bank Unions (UFBU) and Indian Banks’ Association (IBA) on the wage revision at Mumbai on Saturday, about 10 lakh bank employees will go on a continuous two-day strike by end of this month.

UFBU, which consists of all the 9 bank unions (AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, and NOBO), took part in the talks.

The strike call is given against the meagre offer of wage increase for Bank Employees.

All India Bank Employees’ Association (AIBEA) General Secretary Ch Venkatachalam told reporters that Bank employees and officers’ wage revision is due from November 1, 2017.

The Finance Ministry had advised Bank managements and IBA to complete the discussions well in advance and release the revised wages w.e.f. 1-11-2017.

Even though the discussions between Indian Banks’ Association and Bank Unions started in May, 2017 and several rounds of discussions have taken place, IBA was not coming forward to make any offer of wage revision.

Hence Unions gave the call for strike on March 15, 2018.

Since IBA offered to re-commence the talks, the strike was deferred.

In this background another round of discussions between IBA and Bank Unions took place at Mumbai on Saturday, he said.

Mr Venkatachalam said during the discussions, the IBA offered an increase of 2 per cent over the total wage bill of the Banks as on 31-3-2017.

Under the last 10th Bipartite Wage Settlement that was made effective from 1-11-2012, IBA had agreed for a hike of 15 per cent increase over the total wage Bill.

Hence the Unions felt that this offer of IBA was too meager and did not make any basis for further negotiations.

In view of this, it has been decided to take up the issue with Union Finance Ministry immediately for their intervention.

The Unions have given a call to organise massive demonstrations by bank employees all over the country on May 9, 2018, Mr Venkatachalam said, adding that if the Finance Ministry fails to intervene to advice the IBA to make their improved offer, it has been decided to call for a 48 hours continuous strike by end of this month.

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