Wage revision talks

I am placing below the information I come across for the benefit of andhra members

Discussions with IBA
Another round of small committee level discussion between IBA and UFBU was held today in Mumbai.

1. Compassionate Appointments: Further to the discussion amongst IBA and UFBU in the last round of meeting on compassionate ground appointments / financial compensation to the family of employees who die while in service wherein broad understanding were arrived at on the revised schemes, in today’s meeting we have taken up the issue with IBA for further possible improvements in age criteria and minimum compensation. It was decided to take up the matter for further discussion in the next round of talks.

2. Pension Option: On the issue of sharing the cost of Pension Option, the IBA opined that at least 50% of the deficit in cost should be borne by us and the remaining cost may be by the Banks. From our side we offered that 15% of the extra cost can be shared by us. After discussion it was decided to take up the issue again in the next round of talks.

3. Wage Revision: As regards our demand for wage revision, separate discussions were held with the Workman Union and Officers Association respectively. While further explaining your demands and proposals we wanted the IBA to come out with their offer as to how much additional wage increase can be given by them. IBA assured that in the next round of discussion they would give their reactions in this regard.

On construction of pay scales, it has agreed in principle that the revised pay scales would be constructed on 2836 points of Consumer Price Index (Average Index of July –September - 2006).

4. Next Meeting: It has been decided that the next round of Negotiation Committee level discussions will be held on 21.1.2009.