Indian Bank Association Wage Revision
Discussions were declared between the Indian Banks’ Association constituting management of Banks and the empowered representatives of 4 Officers’ Associations. IBA and UFBU jointly terminate the wage revision plans for public field bank employees. Approximately 7 lakh public sector bank employees are keenly waiting for the outcome of the meeting. Indian Bank Association IBA and UFBU United Forum of Bank Unions will contain talks for pay revision of bank employees on 27th November 2009.
Public sector banks considering SBI have 2.44 lakh officers and 4.68 lakh workmen employees are on a wage revision now. Both managing parties have accorded on a 17.5% wage hike. They have also in maxim agreed to offer monthly pension to 2.66 bank employees, who did not choose for it in 1993. But their last meeting in the final week of September stayed inconclusive as they could not get at the accounting method of pension.