Tuesday, December 2, 2014

Bank employees continue with zone wise relay strike, IBA issued Press Release

Bank employees are proceeding with their relay zone wise strike as declared. There is still no break through in terms of finalization of wage settlement. In the mean time IBA issued a press statement regarding status of wage revision negotiation. Salient features of the press release is reproduced below.

"The apex level workmen unions and officers’ associations submitted their Charter of Demands in October 2012 for wage revision. The management team under IBA took up bipartite talks almost immediately thereafter. With a view to increase profitability and market share, we proposed productivity linked compensation structure. Plan to introduce cost to company concept of compensation and splitting of wages into fixed and performance linked variable components were placed before unions/ associations. Unfortunately unions/associations rejected our proposals."
"As such, the banks are not in a position to accept the demand of the Unions/ Associations for 23% hike in salary and allowances."
"Considering the present paying capacity of banks, a hike of 11% on salary and allowances has been offered."
"Considering the financial constraints / depleting profits of banks, IBA advised unions/associations that IBA is not in a position to increase more than the last offer of 11% in pay slip. This works out to 12.5% on Bank’s establishment cost taking into account cost of superannuation benefits. However, IBA is willing to negotiate further if Unions/Associations reduce their demand substantially from 23%. Despite the appeal by the IBA and Chief Labour Commissioner (C) at the conciliation meeting held on 10.11.2014 not to go on strike and resolve the issue through bipartism, the Unions/ Associations did not pay heed to the appeals and went on strike on 12.11.2014. While IBA is always flexible and keen on early settlement of wage negotiations, the Unions/ Associations are stonewalling suggestions to improve productivity and profitability and demanding unaffordable wage increases. The relay zonal strike programme being launched by unions/ associations from December 2, 2014 is unreasonable, unethical and unwarranted. We appeal to the unisons/associations to give up the agitational path and return to the negotiating table."
Click here to view the Press Release


Anonymous said...

Ha Ha Ha Ha Ha Ha Ha.............

Anonymous said...

Ha Ha Ha Ha .......

Anonymous said...

The Union Leaders have played with the sentiments of the Aam Banker.

Anonymous said...


Anonymous said...


Anonymous said...

Bank strike affects only the lower and marginal people. Because the rich ones do most of the banking online and shutting down the branch for one day does bot have any effect on them. People in urgent need of cash are the worst victims of these strikes. The unions may be proud of so called "successful strike" but reality is neither Govt. nor the industry bothers. Only common people who suffered become more and more anti employee. Tim has come to seek for alternative channel for protest. Leaders may not realize it for some vested interest, hope common employees will think again.

Anonymous said...

The opinion expressed in the last comment is indeed very true. The sooner the Aam Bankers realise the vested interests of Union Leaders the better.

Ram said...

The Role of IBA.

In todays fast changing banking scenario, what is the role of an organisation called IBA?

First of all, what is the need of such an organisation or the relevance of such an organisation when there is RBI as the regulator and Ministry of Finance as the Owner?

Second Why this IBA is negotiating for Public Sector Banks and Old Generation Private sector banks in the present context?

There are many PSBs whose management think that there needs to be higher pay package for their employees for retaining skilled and talented employees and to attract the best of the best talent to match with the competition from private and foreign banks.

Third, why ICICI Bank, HDFC Bank, Axis Bank, CITI Bank etc do not participate with IBA's pay structure, when IBA tells that their salary offer is the best?

Having worked with some of the PSBs in India, I realised that the Organisation called IBA do not have any relevance in todays context. The working of IBA is just like a parasite or like a mosquito who live with the help of Banks and blocking banking development in India.

The very existence of IBA is questioned. The Present government may also realise this fact and dispense with the parasite called IBA.

Ram said...

IBA is telling staff expenses have gone up becasue of DA increase as a result of increase in inflation. Who is responsible for that bankers ? Why IBA is not blaming the ex-congress government for inflation?

during the last 5 years how many new branches are opened by PSBS?

IBA is telling banks are not in a position to accept 23% hike? where is the scientific study? Whether IBA ever done such a scientific study? where is the details?

If IBA is a guide, why IBA is not issuing guidlenes to PSBs to how to recover NPAs form big Corporates?

While IBA admits that Operating Profits of Banks are increasing, then why the net profits are coming down? Any study by IBA/ Any analysis by IBA?

Then why IBA?

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