What next after MoU of 12th Bipartite Settlement

On7th December midnight, the MoU (Memorandum of Understanding) of 12th Bipartite Settlement was signed between IBA (Indian Banks Association) and UFBU (United Forum of Bank Unions) with 8 Unions together and AIBOA separately. The details of the MoU have been given separately.

Some of the significant aspects of this MoU:

• For the first time, the MoU has been signed within 14 months of expiry of the previous (11th) Bipartite Settlement and without any agitation. Normally the gap used to be around 24 months and above.
• Further the MoU could be reached in the fifth round of the discussions which commenced in July 2023. In between there have been many sub-committee and small committee meetings on other financial demands, service conditions including disciplinary matters. Whereas the MoU for the 11th Bipartite Settlement could be reached only after 44 rounds of discussions.
• While the initial offer in the previous two Bipartite Settlements ranged between 0% and 2%, this time the initial offer itself was 15% hike in the Pay slip component.
• While the 11th Bipartite Settlement was clinched with 15% increase in the Pay slip component, this MoU provides 17% increase in the Pay slip component amounting to Rs.12449 crores.
• This MoU provides for monthly ex-gratia for the pensioners and the family pensioners.

Offer of IBA was conditional

While there has been some positive aspects as mentioned above, IBA was very adamant and negative in not settling many of the core demands of the Unions and Associations.  Many of the important demands that have been raised even during the 11th Bipartite Settlement still remain unsettled in this MoU. The offer of the IBA was conditional.  While the Unions and Associations chose to arrive at this MoU, the concluding remark of com. Rupam Roy, General Secretary of AIBOC is significant. “Though I am not totally happy, with my expectations to take care of the issues of the officers, particularly on load (we wanted more) but when we come as UFBU and when we have our retired officers (IBA is thinking to improve their benefits), despite disappointed personally, taking everything into account, we as a team of UFBU, we have no option but to accept it (MoU) with a positive frame of mind that in the further negotiations the issues will be taken in the right spirit so that the aspirations are met”.