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IBA Commences Negotiations with UFBU on Wage Revision on 28.07.2023

Text of UFBU Circular dated 28.07.2023 - The formal 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 finalise 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 Committees to discuss our demands, i.e; Main Negotiating Committee, Sub-Committee for Workmen Unions’ demands: Sub-Committee for Officers Associations’ demands:

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% neutralisation 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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