Talks on 12th Bipartite Wage Revision Starts from 28th July

UFBU message :Today bipartite talks for next wage revision settlement formally began between IBA and UFBU. IBA has formed the main Negotiating committee as well as Sub committees to discuss our demands. Discussion on our demands will continue from the next round of talks. Today we have signed the minutes for extending 100% DA for pre Nov 2002 pensioners and family pensioners . 

The formal 12th Bipartite Talks for wage revision for the ensuing 12th Bipartite Settlement/9th Joint Note commenced today with the Indian Bank’s Association. Units are aware that we have submitted our Charter of Demands for revision of wages and service conditions which are due from 1-11-2022. 

Today’s discussions have opened up the gate for negotiation of these demands. From our side we explained the salient features of our demands and expressed the hope that the IBA would come forward to discuss and finalize the demands to enable us to arrive at the Settlement as early possible.

IBA also expressed the hope and desired to complete the negotiations within the next four months. IBA informed us that they have formed the following Committees to discuss our demands: Main Negotiating Committee:

1. Shri. M V Rao – Chairman (MD&CEO, Central Bank of India) 

2. Shri. Rajneesh Karnatak (MD&CEO, Bank of India) 

3. Shri. Rakesh Sharma (MD&CEO, IDBI Bank) 

4. Shri. Om Prakash Mishra (Dy. MD, State Bank of India) 

5. Shri. Shanti Lal Jain (MD&CEO, Indian Bank)

Sub-Committee for Workmen Unions’ demands: 

1. Shri. Rajneesh Karnatak - Chairman 

2. CGM HR, Bank of India 

3. CGM HR, Bank of Baroda 

4. GM HR, UCO Bank 

5. CGM HR, Indian Bank 

6. CGM HR, Bank of Maharashtra Sub-Committee for Officers Associations’ demands: 

1. Shri. Om Prakash Mishra – Chairman 


3. CGM HR, Canara Bank 

4. CGM HR, Union Bank of India 

5. GM HR, Punjab & Sind Bank 

6. GM HR, Indian Overseas Bank

We submitted that we expect all the Banks covered by the last Settlement to be covered by the ensuing Settlement and urged upon the IBA to expedite and obtain full and complete mandate from all the Banks. 

We also took up the important issue of introduction of 5 Banking Days per Week and IBA informed that it is under active consideration. 

We also pointed out that our demand for updation and improvement in pension needs to be amicably resolved without further delay. IBA informed that as a step towards that, as agreed in the last meeting held on 19-7-2023, the minutes on extending 100% DA for all pre-November, 2002 pensioners/family pensioners can be signed. 

Accordingly Minutes were signed today in this regard (copy enclosed). The Minutes provides that for all pre-Nov. 2002 pensioners/family pensioners, DA shall be payable with 100% neutralization instead of the slab system. Since this will not benefit the pensioners/family pensioners at the award staff level who already get 100% DA, for such pensioners/family pensioners ex gratia of Rs. 800 and Rs. 450 per month has been agreed to. 

The matter will now be taken up with the Government (DFS) for the approval for implementation. It will be appreciated that this is a very significant achievement which will bring all pensioners/family pensioners on equal platform in respect of DA compensation. Next round of Discussions: 

We have requested IBA to fix up the next round of bipartite discussions at the earliest during August, 2023. 

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