Wage revision may come into effect from Nov ’07

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Kumud Das: Mumbai, Aug 12, Aug 13 2008, 01:23 IST
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If the Indian Banks’ Association (IBA), the trade body of banks, has its way, then the ninth bipartite settlement for bank employees is likely to come into effect from November 1, 2007.

The demand of the United Forum of Bank Unions (UFBU) to this effect has received positive response from the IBA during their first meeting on fresh wage revision held in Mumbai on Monday. The eighth bipartite settlement had ended in November 2007. However, on the UFBU’s demand that the revised pay scales should be constructed at the consumer price index of 3028 points, the IBA stated that this could be taken up during the further course of discussions.

However, the final date on wage revision will be decided by the government, which will soon be communicated about the outcome of the ninth bipartite negotiation.

The newly appointed CEO of IBA, K Ramakrishnan, was present during the meeting, while the UFBU was represented by its convenor, CH Venkatachalam and other Union leaders.

Attrition of the employees from the state-run and old generation private sector banks was thoroughly discussed during the meet.

Also, a core committee comprising the human resource heads of the few affected banks has been formed so as to reach at a possible solution as early as possible. Revealing the deliberations of the meeting to FE, MV Nair, chairman and managing director of Union Bank of India, who is also chairing the negotiating committee on wage revision of IBA, said, “Common interests relating to the bank employees as well as the bank

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Reader's Comments (84)| Post a Comment

Hi Dealers

Chatterjee J K | 17-Apr-2010Reply | Forward
you will find the word leader and dealer represents same letters. Yeah the leaders of officers' in Banking Industry are the dealers, who deals for their own benefit and for the benefit of old leaders. They are now either sincerely working for the management or are not capable to sit with IBA for negotiation. They always befooled the members with their ornamental words. When the majority of their members are from scale I - III, they have made a settlement where these section are getting the lowest benefit. Mr. Nadaf, you and your AIBOC leaders are befooling by saying we have arranged for 2 stagnation increment. We the scale III officers who were getting B.P. of Rs.23520 was one increament behind from scale IV officers and after your glorius (in your language)negotiation we will be placed at 3 increments behind i.e. 3 years behind to 9 years behind. Snatching 6 years isn't glorious. Ha Ha. On every call of Association (necessary or unnecessary, those who have faith on you or not), we made it a grand success. We suffered financial loss and we have been treated like a beggar under your dealership because you have one point, work for the benefit of management and benefit for SBI. I hope, the spineless members will again support you because for last few decades your organisation has produced only such members, who can't think independently and you have a rich tradition of befooling your members. God save them from you and your association. Ha, Ha.

wage settlement in banks anamolies in revision of basic pay to scale-III officers

m.c.agrawal | 11-Apr-2010Reply | Forward
DO you know that the officers in scale iii and scale iv who were drawing same basic pay from rs.20480 to rs.23520/in the past has got anamoly of rs 2700/after 9th bipartite wage settlement as now scale iv will be getting rs 2700/p.mm.about more than scale iii..these all are only the reasons the leaders were not disclosing and making transparency and were hand in gloves with IBA/Govt..Same is the case with second pension option as some body may pin point the deficiency in the draft agreement which may be against their personal interest.In fact we have failed to understand as what is forcing them not making transparency and disclosure of affairs to the members for the things which they are legally entitled to be aware of.

HRM haressment

dilip b patel | 10-Apr-2010Reply | Forward
Due to unexpected events and instruction ,i had to resign from Bank of baroda on 29/06/09 and i had also complained about the same to our chairman . But our bank ignore my intimation and passed my resignation depriving my all rights which are confirmed to VRS employee. Under this circumstances when harresment is from management,employee rights should be protected.

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