IBA to meet bank unions today to discuss wage hike

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In a bid to bring a solution on the ongoing chaos on bank wage hike, the apex banking body Indian Banks Association (IBA) and bank unions will be meeting today.

Wage hikeIn the meeting, banks will be negotiating with the IBA on the salary hikes for over three dozen banks.

Nearly 37 banks, comprising of public, private and foreign banks, have given their mandates to IBA to decide on wage hikes for their employees.

United Forum of Bank Unions will be representing the bank employees on their behalf in the meeting.

After the 10th bipartite settlement ended in October 2017, the current wage revision is due from November 2017,

Earlier on May 5, 2018, during the last round of talks, the IBA had offered a 2 per cent wage hike, which had agitated the unions and they went on a two-day strike starting May 30.

“We want banks to improve the previous offer of 2 percent. Our demand is of 25 per cent, but we are open for negotiations,”said  Devidas Tuljapurkar, UFBU convener for Maharashtra.

“So far, the wage revisions have always been in double-digits, which we are okay with, but 2 per cent is not acceptable to us,” Tuljapurkar said.

As per the banks management, the nominal hike has been offered due to the huge losses incurred by in the past few quarters.

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