United Forum of Bank Union (UFBU) Letter to IBA over delay in Wage Revision and urge to make initial offer on wage increase : You are well aware that on the Charter of Demands submitted by our Employees Unions and Officers Associations, discussions have commenced from May, 2017 and quite a few rounds of discussions have also taken place. Right from the beginning IBA has been expressing that the entire discussions need to be concluded at the earliest, preferably before Diwali festival so that the revised pay scales can be implemented from 1-11-2017.
Department of Financial Services, Ministry of Finance, Government of India have also been issuing frequent communications that the negotiations are to be completed well in time before 1-11-2017.
No initial offer on wage increase by IBA
But it is observed that while discussions are taking place on non financial demands, so far IBA has not made any offer on increase in wages. You will appreciate that increase in wages is the crux of the Charter of Demands submitted by us and IBA’s silence on this important issue, is a matter of serious concern to all of us.
While reiterating our commitment to conclude the discussions early and expedite the Settlement through mutual discussions, we wish to point out that expeditious Settlement is not possible if IBA does not come forward to make their offer on quantum of wage increase and negotiate the same to the satisfaction of all to conclude the Settlement without any further delay.
IBA’s reluctance or delay in making the offer on wage revision for the past six months is creating resentment and restlessness among the rank and file of employees and officers and hence it is not desirable to delay it any further. As already requested in the last round of meeting, we urge upon IBA to convene the meeting of the Negotiating Committee immediately, make their initial offer and conclude the settlement expeditiously so that the whole process of wage revision settlement for employees and officers is completed.