India: The strike proposed by United Forum of Bank Unions (UFBU), an umbrella body of nine union in the banking sector representing staff and officers would beginning at 6am on 30th May and will go on till 6am on 1 June 2018, demanding early revision of wages. The wage revision has been due since 1 November 2017. Previous talks on wage revision between UFBU and IBA held in Mumbai on 5 May 2018 had failed.
During the meeting on Monday, UFBU leaders conveyed their grievance that there is inordinate delay, an offer of 2% was not in good taste and the practice of wage negotiation for officers up to Scale VII, which has been the practice has to continue. The Chief Labour Commissioner (CLC) supported the issues and asked IBA to respond positively. The IBA representative said that they will consider revised offer but requested the UFBU to quantify the demand.
"UFBU stated that our Charter of Demands is clear. On Officers wage revision, IBA said six banks have given restricted mandate. IBA also talked about losses of the Banks. Quoting figures, UFBU leaders, however proved how operating profit of banks have doubled, staff expenses have reduced, and business have more than doubled. The CLC opined that bank officers and employees have to be paid for hard work and not based on profit. IBA, however, was not ready to come out with a new offer but assured to continue the negotiations. On officers’ scale, IBA was willing to discuss with banks but could not give any assurance. As there was no concrete proposal, UFBU which met immediately after announced that the strike will continue," says DT Franco, General Secretary of All India Bank Officers' Confederation (AIBOC) in a statement.