OUTCOME OF BIPARTITE TALKS UFBU WITH IBA ON 29-9-2023

The Negotiating Committee Meeting held on September 29, 2023, between the United Forum of Bank Unions and the Indian Banks Association discussed the following issues.

1. Request for furnishing the details of establishment expenses to help the Unions quantify their wage revision demand.
2. Demand for early introduction of 5 banking days per week.
3. Demand for absorbing Special Allowance with basic pay.
4. On Retirees’ medical insurance policy for 2023-24, Unions requested the IBA to take an early decision on bearing the insurance premium by the respective Banks.
5. Approval of the Government for extending 100%  DA for the pre-November 2002 pensioners as per our MOU signed on 28-7- 2023.
6. The formation of subcommittees to discuss the issues raised by the unions can be delved into with proper details before making the decision.

Unions wanted to know the details of establishment expenses, number of employees and officers under OPS and NPS, stage-wise/area-wise number of employees, impact on cost of superannuation benefits, etc. They requested the IBA that the above details help the Unions quantify their demand and also asked the IBA to make their initial offer so the matter could be further negotiated and resolved. IBA has assured that the required data will be provided to UFBU within a week.

While furnishing the details of establishment expenses of the PSBs for the year ended 31.03.2022 IBA said that same would be taken as the basis for further negotiations on our demands.