Expedite Wage Revision

"EXPEDITE WAGE REVISION" By Tahir Ali

Wages and service conditions in the banking sector are governed by the industry level bipartite settlements signed by the Indian Banks Association (IBA) and the Trade Unions of bank employees and officers. Public Sector Banks, Private Sector Banks and Foreign Banks who give their mandate to the Indian Banks Association are party to the settlements and hence are covered by the agreements. 

The alarming and unabated price rise has seriously eroded the income of the employees. Consumer Price Index has gone up by almost 2400 points since November 2007 (1960 =100). Hence the wage revision to catch up with the high inflation and price has become an urgent necessity. The job profile of the staff has also undergone a sea change and all these require to be properly remunerated with adequate increase in wages.

The 9th Bipartite Settlement on revision of wages and service conditions covered the period from 1 November 2007 to 31 10 2012. Consequently United Forum of Bank Unions submitted a common charter of demands for the employees and officers before the date of expiry of the agreement for the 10th Bipartite. The IBA is delaying the settlement. During the last one year even though 5 rounds of talks were held IBA has not even come out with any clear proposal as to the quantum of increase.

The Bank Management has been projecting that they could not meet the wage increase demand by the UFBU as the productivity in the banking sector is low. An analysis of RBI data (based on various parameters) indicates that Indian banks, particularly the public sector banks have shown significant progress on the productivity and efficiency front over the last two decades. Staff expenses have also come down as per the data available.

TAHIR ALI
CENTRAL COMMITTEE MEMBER
NATIONAL CONFEDERATION OF BANK EMPLOYEES' (N.C.B.E.)