Bank Wage Revision Update – Meeting of Unions and IBA

Another round of discussion took place between Indian Bank Association and Workmen Union on 14th November 2017.

Wage Revision by way of 11th Bipartite Settlement is due from 1st November 2017 and is pending. (In the meantime, DA for Bankers has increased by 3.80% from November 2017)

The issues related to disciplinary actions were discussed such as deletion of fine and punishment, provision for appeal against suspension, Review Authority after Appellate Authority in case of punishment of dismissal, no multiple charges for one incident etc.

It was decided that the conclusion on these matters would be finalized in next meeting.

Read: Comprehensive guide to Credit Appraisal Process in Banks

Further the following issues were taken for discussion:

• Simplified formula for calculation of overtime wages.
• Introduction of leave bank, where employees can voluntarily donate leaves in a common pool, which can be utilized in cases such as major diseases and prolonged illness.
• Childcare leaves, sabbatical leave, study leaves etc.

However, no conclusion or decision has been taken on the above issues and will be discussed further.

AiBEA stated that they have pointed out that considerable time has elapsed since commencement of discussions in May 2017 on Charter of Demand but so far IBA has not come forward with their offer on wage increase and hence demanded that the next meeting of the full negotiating committee should be fixed up at the very earliest for this purpose.