Settle Wage Revision negotiations of Bank Workers

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The wage revision for Bank employees under 11th bipartite settlement is due from November 1, 2017. Evenafter several rounds of talks since 2017 no settlement reached yet.

Nine unions, under the banner of the United Forum of Bank Unions (UFBU), also demanded wage negotiation for bank employees under scale 1 to 7 while IBA’s wage hike offer pertains to employees under scale 1 to 3. IBA has offerred upto 8% hike at various stages whwere as unions are demanding minimum 15% hike.

The just demands of the Bank Unions for a parity with Central Govt employees is being denied on the ground that banks cannot afford the bill. Loss of crores of rupees due to willful default of large corporates is the main reason for the decrease in profit of Banks.

Profit linked salary is not a genuine demand of IBA. Banks are being looted with the inappropriate handling of loan porfolios which is not the mistake of employees.

If salary is to be linked to profit then how will the Railway and defence personel be paid. 

The major highlights of the meeting was representing the “Performance Linked Annual Increment” for bank employees by one of the member from IBA negotiation committee. The rough sketch which was presented by IBA to Banks’ Union for discussion was purely based on Fixed plus variable pay hike linked to individual Bank’s Performance.

IBA has offered to categorize the bank in three broad category on their performance metrics i.e. Net Profit on YoY basis and Return on Assets (RoA),

If Bank’s Union accepts the demand of IBA for performance linked annual hike, all such banks which don’t achieve the target as per the defined criteria as mentioned above for any salary hike.

This is the list of Public Sector Bank with their Net Profit and Return on Assets for year 2017-18. IBA has considered the March 2018 as base year for annual increment.

As per this criteria 7 banks are eligible for wage hike while 14 banks are not eligible .

It means smaller banks’ employees will get the smarter package than bigger bank. As like in this case Vijaya Bank employees will get the higher annual increment than State Bank employees. I don’t understand any logic behind it.

When schemes like Jan Dhan Yojana are successfull Bank employees are appreciated.

Besides the working hours are getting increased day by day due to work load. Adequate recruitment is not conducted to match the growth in business and thereby work load.

Therefore it is legitimate only to give an increase of the wages to have parity with central govt employees.

We request the interference of Your goodself to bring an amicable settlement to the discussions.

Please do the needed to avoid an unwarranted struggle by the employees.