11th Bipartite Talk Fails, Bank strike for 2 days from January 31 - 11th Bipartite Wage Settlement - Latest News

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Wednesday, 15 January 2020

11th Bipartite Talk Fails, Bank strike for 2 days from January 31

11th Bipartite Wage Revision Updates - After wage revision talks with the Indian Banks' Association (IBA) failed, bank employees' unions UFBU called for a two-day nationwide bank strike on January 31 and February 1. 

ReadThis will be Your Expected Basic Pay After 11th Bipartite Settlement !
The timing of this bank strike is important because it coincides with Budget day. The Economic Survey will be presented on January 31 while on February 1 Finance Minister Nirmala Sitharaman will present her second Budget. Since February 1 is the first Saturday of the month, all commercial banks are supposed to be open on the Budget day. Even stock exchanges have decided to open, especially for Budget.
Representatives of 9 constituents of the United Forum of Bank Unions (UFBU) held a bipartite talks with IBA on Monday in which several wage-related demands of the UFBU were turned down.

The major demands were :
1. Bank unions are demanding a 20% hike on payslip components, 
2. Merger of special allowance with basic pay and 
3. A uniform 5-day work week. 
4. Other demands include scrapping of New Pension Scheme, improvement in family pension and defined working hours for officers.
"After discussing the financial offers of IBA amongst the constituents, UFBU expressed its inability to accept the same. Thereafter UFBU meeting was held as scheduled and decisions were taken to launch agitations and Strike actions," UFBU general secretary Debasish Basu Chaudhury said.

UFBU, which represents nine trade unions, has threatened to hold another three-day strike from March 11-13, to be followed by an indefinite strike from April 1 if their demands of pay hike are not met. 

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