News On Wage Revision Bipartite Settlement

There are two important news for Bank Employees which have appeared today. First News is that Government has directed the Indian Banks Association to speed up the process of Bipartite Settlement and finish it quickly. Reliable sources reveal that Government has given clearance to settle Pay Increase at 12% and major constituent Unions of UFBU are willing to settle at this percentage in view of the Government move of amalgamating the Banks. Things will be clear only on 29th when IBA and UFBU will sit together for next round of talks. If both IBA and UFBU don’t agree and settlement is lingered on after December, there is every possibility that Settlement would be signed only after the Election in view of imposition of code of conduct. 

Amidst above news, one encouraging news in Circulation in Social Media with regard to filing of a Writ In Madurai Bench of Madras High Court by an Officer Sri S. Dhanasekhar in the matter of equality in Salary of Officer in JMGS-1 at Par with Class -1 Officer of Central Government in view of Notification by Central Government, Ministry of Finance, Government of India where in Central Government itself has admitted that Class-1 Officer of Central Government is equivalent to Officer in JMGS-1 of the Banks.

We tried to find out the details of the Writ Petition. Writ Petition No. MD 19947/2018 was heard on 18.09.2018. No order on the said Writ Petition is available. Thus, it appears that Hon’ble Judge has passed Orders for issuing Notice to opposite parties and has fixed 16.11.2018 as next date of hearing.

In the meantime, there is unconfirmed news from AIBOC, the majority Officers Association that it has welcomed the move of Sri S. Dhanasekar and has assured that entire cost of the writ petition would be borne by AIBOC. Needless to mention here that this time AIBOC has demanded revision of Pay on the basis of Pay Commission Formula.

A question must peep into the minds of every reasonable person that if AIBOC is demanding Pay Revision on the basis of CPC Formula and has welcomed the Writ Petition filed by Sri S. Dhanasekar assuring him its full support, what AIBOC is doing inside the UFBU where negotiations are being held on percentage increase terms as per Net Profit in consolidated Balance Sheet/Paying capacity? It is lack of clarity in the approach of AIBOC and its behavior full of suspense that is keeping We Bankers on guard.

We Bankers is keeping a close watch on above developments and eying on talks scheduled for 29th. Let us wait to see as to how things move on 29th, what percentage UFBU demands in return to 6% offered by IBA and how AIBOC and other constituents of UFBU behave thereafter.  It would be too early for We Bankers to react and share its strategy.

We Bankers has convened a meeting of its front line Activists on 2nd October, 2018 at Jaipur for taking stock of the situation and for deciding its next step.