SHIMLA, June 28: The United Forum of Bank Unions (UFBU), comprising representatives of nine constituents, met Union Finance Minister Arun Jaitley and sought his intervention to advice the Indian Bank Association (IBA) to ensure an early wage revision for Bank employees.
The delegation, which included CPI leader D Raja, had met Mr Jaitely in New Delhi yesterday, All India Bank Employees Association (AIBEA) General Secetary C H Venkatachalam told UNI today.
He said the UFBU had decided in its last meeting held in Mumbai
on June 13, 2014 to meet Mr Jaitley and seek his intervention in view of the delay in the settlement of the wage revision demands. Mr Venkatachalam said a memorandum was also submitted to the Union Finance Minister on behalf of UFBU, adding the delegation draw his attention that the wage settlement is due from November 1, 2012.
In the memorandum, it was pointed out that despite 11 rounds of talks with the IBA, the negotiations have not concluded. The IBA’s offer of 11 per cent hike over the payslip cost was inadequate and hence not acceptable to the unions. In the last 5 years, performance of the banks have been impressive in terms of branch expansion, business growth and profit earning. The erosion in net profits is mainly due to the need for higher provisions for non- performing loans.
The salary increase should reflect the erosion in wages on account of price spiral and high rate of inflation in the recent years, the union said in the memorandum and added that the wage revision in the banking sector should be comparable to other sectors like public sector, government sector and others.
Mr Venkatachalam said the Finance Minister received the delegation very cordially and heard the submissions patiently. He assured to get the details from the Banking Secretary and take necessary view on the issue.
The AIBEA also submitted a memorandum to Mr Jaitley seeking his intervention for implementing the Tribunal’s Award in respect of Daily Deposit Collectors.
Through another memorandum, he said the unions had urged upon the Finance Minister on the issues relating to Co-operative Banks like exemption of the profits of the Co-op. Banks from the purview of Income Tax by amending Section 80(p) of the Income Tax Act, withdrawal of RBI’s recent Notification not to treat the Deposits of District Central Co-op Banks kept with State Co-op.
Banks for SLR purposes, withdrawal of the directives to increase CRR from 3 per cent to 4 per cent in Co-operative Banks. (UNI)
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