11th 11th BPS Updates - Minutes of Meeting Held on 12-10-2018 Between IBA and Bankers' Union UFBU - 11th Bipartite Wage Settlement - Current Status & News

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Saturday, 13 October 2018

11th BPS Updates - Minutes of Meeting Held on 12-10-2018 Between IBA and Bankers' Union UFBU

11th Bipartite Wage Revision Current News Update - Minutes of recent meeting held on 12th October 2018 between Indian Bankers' Association (IBA) and Bankers' Union UFBU.

IBA team was led by Shri R.K. Takkar, MD/CEO of UCO Bank and Chairman of the Negotiating Committee. UFBU was represented by our 9 constituent Unions.

Discussion was started continuing the last round of meeting held on 29-9-2018, IBA was seeking the response of their proposal given in the last meeting i.e. 

To decide wage revision Bank-wise based on capacity to pay to be determined through a formula based on Operating Profits and Return on Assets of each Bank every year.

UFBU Replied UFBU stated that while varying performance of the banks can be a basis for formulating incentives to be paid to the Employees and Officers in each Bank, it can be a separate issue exclusive of wage revision exercise.

UFBU reiterated and emphasized the following standpoints:

1. IBA’s earlier offer of 6% should be substantially improved upon to work out a mutually acceptable wage accord.


2. IBA’s proposal of linking wage revision to Bank-wise Operating Profits and Return on Assets of individual Banks and thus breaking the existing system of equal wage for equal work is not acceptable to UFBU.

3. Issue of restricted mandate given by SBI, BOB, PNB, Union Bank of India and Indian Bank should be reviewed and resolved to cover all scales of Officers.

UFBU has also informed that 

From IBA they repeatedly argued, advocated and pleaded to accept the formula of Bank-wise wage revision according to capacity to pay based on operating profits and further stated that their proposed formula can be modified or amended by further discussions but persisted with their stand that wage revision needs to be based on capacity of the different banks. 

IBA wanted wanted the suggestions from the UFBU on the above statement.

UFBU replied that uniform wages in the banking sector has evolved over decades starting from 1948 (Sen Award) and wage revision has never been a major problem in any of the Banks so far even whey had passed through turbulent times. We also pointed out that wage cost as a ratio to total operating expenses of the Banks has actually declined in the recent years and hence IBA’s proposals are not acceptable.

UFBU has requested the IBA to revisit their proposition and come forward to hike their offer from 6% to adequate level and payable uniformly to all banks. 

UFBU has cleared out to IBA that if the wage revision would linger on in this way by insisting on Bank-wise wage revision based on individual Banks’ operating profits, it would lead to confrontation and consequent agitation by the Employees and Officers. 


IBA agreed to discuss the issue further in the next round of discussions and requested the unions to have an open mind on their proposal.

Bankers' Union believes that there are attempts on the part of the Bankers and Government to reverse the clock by foisting Bank-wise wage revision and divide the workforce to weaken our unity and fraternity. 

UFBU is demanding wage revision and salary hike based on inflation, cost of living and also the present level of work pressure and job profile of Bank Employees and Officers and hence cannot be compromised. 

Bipartitesettlement.com will keep our members informed of further developments in due course.

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