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18 Jun 2024, Edition - 3262, Tuesday

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IBA, bank unions meet over wage hike inconclusive



Mumbai: The meeting between apex banking lobby Indian Banks Association (IBA) and bank unions to negotiate on salary hikes for over three dozen banks remained inconclusive on Monday.

The IBA offered 6 percent wage hike, which the unions have turned down.

Close to 37 banks, including public, private and foreign banks, have mandated to IBA to decide on wage hikes for their employees. Bank unions under the banner of United Forum of Bank Unions represent the employees.

The current wage revision is due from November 2017, after the 10th bipartite settlement ended in October 2017.

In the last round of the talks held on May 5, 2018, the IBA had offered a meagre 2 percent wage hike, which had irked the unions and they went on a two-day strike starting May 30.

In the May 2018 round of wage negotiations, IBA had also maintained that the talks on officers demand would be restricted up to scale III officers only. The settlement under the 10th bipartite agreement was concluded after 18 rounds.

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