National Industrial Tribunal’ ultimately settles for 40% or at least 30% hike for banker Salary

National Industrial Tribunal – What I expect?

In the course of current BPS talks, IBA has made a final offer of 15% increase in ‘pay slip components’. This offer has been accepted by UFBU after long negotiation process. To decide this issue, it has taken almost 3 years for IBA-UFBU, which is unprecedented and not justified by count.

Suppose the proposed ‘National Industrial Tribunal’ ultimately settles for 40% or at least 30% hike now, will anyone have any objection to it? Will not we wait for another 3 months (or at the most 1 more year) to receive 30 Rupees, in place of 15 Rupees, insofar as 36 long months have already been wasted, by keeping us waiting for such a long period?

However, I am confident that the National Industrial Tribunal will look into whole wage structure ‘de novo’, without engaging itself in ‘Percentage game’ any more.

In that direction, the beginning must be made by correcting these past wrongs.

1. ‘Special Allowance’ is to be merged with the Basic Pay, as a first step.

2. Then, final pay structure of bank employees is to be determined, in consultation with all stakeholders.

3. HRA is to be reset on realistic lines, as compared to GoI and State Governments Staff.

4. Pension Updation – for both live pensioners and family pensioners – must be carried out. As a natural corollary, pension must be revised along with each wage revision in future, automatically.

5. Other Service Conditions considered essential are to be taken for discussion and final decision.

6. ‘5 Day Banking’, I think, is not included in the terms of reference. It may have to be taken up separately with DFS, MoF, New Delhi simultaneously/later.

I eagerly look forward to the dawn of ‘Golden Period’ for Bankers at least from now. I pray to the almighty for the bright future of all bankers – serving and retired – and also for the banks in India.

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