Minutes of Meeting 02-02-2019 between IBA and UFBU - 11th Bipartite Wage Settlement - 11th Bipartite Latest News

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Monday, 4 February 2019

Minutes of Meeting 02-02-2019 between IBA and UFBU - 11th Bipartite Wage Settlement

One more round of meeting was held on the request of Indian Banker's Association (IBA) on dated 02nd Feb 2019 at Union Bank of India, Central Office, Mumbai. IBA was represented by Sri Raj Kiran Rai, Chairman, Negotiating Committee (MD & CEO UBI) and other members like MD & CEO of Vijaya Bank, DMD/CFO - State Bank of India,  CEO IBA, Dy CEO IBA, SVP - IBA, Adviser - HR & IR-IBA.

UFBU was represented by Five workmen Unions and other two representation from Officers Union i.e. Sri S Nagarajan, Gen Secy AIBOA and Sri K K Nair, Gen Secy, INBOC.

The representatives of the constituents units held a meeting and discuss the development taken place and the stand taken by the two officers organizations (AIBOC & NOBO). It was decided by UFBU to write to both the officers organization about their expression which are against the collective achievement of UFBU from the date of inception. It was further decided to hold a full fledged meeting of the constituents prior to the next meeting with IBA.  

Two Officers union (AIBOC & NOBO) had not participated in the proposed meeting and Chairman of the Negotiating committee has shown his concern about the dissatisfaction in this regard


He appealed to the leadership of these organizations to sort out the matter keeping in view the past conduct of the UFBU which had delivered benefits to the work force in the industry in the last two decades.

Read - Calculate your Salary with 10% Hike  

The following points were discussed :

1. Three banks have been brought out of PCA framework and there is an imperative need to resolve the issue of mandate to cover all the officers.

2. Merger of Dearness Allowance (DA) to construct a new pay scale will be at 6352 points i.e. DA for the month of Oct 2016.

3. It was decided that the special pay allowance which was introduced in the previous wage settlement and was not ranking to the retirement benefits will also be appropriately addressed.

4. IBA has offered to enhance the fixed pay component from 8% to 10%. 

5. Reduced the variable pay by 25% from proposed 8.2% to 6.2%. Read - Logic Explains - IBA's Performance Based Salary for Bank Employees

6.A clear mandate and flow chart will be provided on variable pay structure for better understanding.

7. A separate meeting will be held with IBA to discuss the common demand of workmen and Officers.

Another meeting is scheduled in the second week of Feb 2019 for to sort out the matter discussed. 

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