Excelsior Correspondent
JAMMU, Dec 22: In response to the Bank Unions/Associations decision to intensify strike on wage settlement, Indian Banks’ Association has stated that it is the only representative body of banks, which has the mandate for wage settlement.
“IBA’s Negotiating Committee, comprising of CMDs of Public Sector Banks as well as Private Sector Banks, which are parties to the Bipartite Settlements, has started the wage negotiation in right earnest since October 2012. 14 rounds of discussion have been held so far and two major issues, i.e. effective date of implementation and merger of DA have been clinched,” said a statement, issued by IBA.
IBA further said that in the current wage settlement, a hike of 11 percent on salary and allowances has been offered, based on the paying capacity of all the banks whereas Managing Committee of IBA and the Chairmen of all the banks were unequivocal in saying that the demand of 23 percent increase of Unions/Associations is unaffordable, illogical, exorbitant and irrational.
IBA, therefore, has made an appeal to Unions/Associations to give up the agitational path and return with pragmatic approach to the negotiation table for resolving the issue through bipartism. IBA has also requested to all member banks to assess their paying capacity and advise accordingly.
It is, therefore, apparent that IBA is serious to settle the issue at the earliest and not adopting delaying tactics as alleged by the Unions/Association, said the handout.
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