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Wages and service conditions of bank employees and officers are governed by collective bargaining and bilateral agreement. The same are being revised once in 5 years based on the demands submitted by the Unions and arising out of discussions with the Indian Banks’
Association on behalf of all the member Banks. Accordingly, the last Settlement was finalized in May 2015 to cover the term from November, 2012 to October, 2017. Hence wage revision was due from November, 2017.

Keeping in mind the past experience of delay in arriving at Settlements, the Department of Financial Services, Ministry of Finance, vide their communication dated 12-1-2016 advised all the Bank managements and IBA to expedite and conclude the 11th Bipartite Wage
Settlement well before November, 2017. Hence Unions also submitted the Charter of Demands well before and the negotiations also commenced in May, 2017 with the assurance that the settlement would be arrived at before November, 2017.

Unfortunately, the IBA did not make any offer on wage increase until May, 2018 when their unacceptable offer of 2 % increase was offered. After series of discussions, the offer of IBA has been revised at 12.25% recently which is far below the expectations of the rank and file

Despite more than 30 months of negotiations IBA is unable to settle the wage hike on a reasonable basis as well as other important demands raised by the Unions. Hence the United Forum of Bank Union consisting of 9 trade unions of employees and officers has given the agitational programme and strike actions to highlight our demands and seeking
the attention of the Government to resolve the demands expeditiously.

We seek your personal intervention in the matter and request you to advice the Indian Banks’ Association to expedite the Settlement and resolve our demands favourably.