Bank Wage Negotiation: UFBU Talks with IBA

Bank Wage Negotiation: UFBU Talks with IBA

After a long period of 3 months, Indian Banks Association invited the UFBU for a discussion on wage revision under 11th Bipartite Settlement


Circular No.10/VII/2019
June 19, 2019
Dear Comrades,


After lapse of nearly three months, IBA invited the UFBU for a discussion today at IBA Office, Mumbai. IBA was represented by Shri.Rajkiran Rai, Chairman Negotiation Committee IBA(UBI), Shri. Alok Kumar Chaudhary(SBI), Shri.V.G.Kannan, CEO, IBA, Shri.B.Rajkumar Deputy CEO IBA, Shri.S.K.Kakkar, Advisor IR &HR IBA , besides staff of personnel department of IBA.

Shri. P.S.Jayakumar(BOB), Shri.Shyam Srinivasan(Federal Bank),Shri.M.K.Jain(OBC) and Shri.R.A.Shankaranarayanan(Canara Bank) were participating through Video Conference. Representatives of Seven Organizations participated in the discussion. The undersigned participated in the discussion.
Chairman Negotiating Committee outlined the purpose of the meeting so as to know the stand of the two Officers’ Organizations in the matter of participation in the negotiation. In response , Convenor, UFBU submitted a letter addressed to Chairman IBA and Chairman Negotiation Committee of IBA , reiterating that the negotiation should cover up to scale VII Officers. It was also expressed that in the earlier round held on 22.02.2019, IBA offered to cover up to Scale V, though the mandate given earlier by the 5 Banks were up to Scale III only.

IBA in response to the submission made, expressed that it was an offer made and the acceptance was not forthcoming as it is reflected by their absence. It was also made very clear that the five workmen unions will participate in the negotiation for arriving at agreement under ID Act. It was also expressed clearly that, in the past when the officers’ organizations had not participated in the discussion, still IBA did engage themselves to arrive at the understanding with the officers’ organizations.(One in 1989 and another in 2010-one more option for Pension)

On common issues concerning both the section of the workforce, it was reiterated that the discussions should be continued to be held with all the seven constituents of UFBU. IBA has indicated its preparedness to discuss the common issues and also willing to share the details related to record note dated 25.05.2015. In addition, the discussion on Insurance backed Hospitalization scheme was also held in the post lunch session. IBA will be taking up the issue referred herein above in the ensuing meeting scheduled to be held in the last week of this month and assured to fix up the dates for further exchange of informations. The discussion was more of explanatory in nature.

We note to convey the developments in due course.
Yours comradely,



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