UFBU meets FM-seeks early wage settlement

28 Jun

UFBU delegation met Finance Minister Shri Jaitley and submitted a memorandum on wage revision

UFBU delegation met Hon’ble Finance Minister Shri Arun Jaitley on 27th June 2014 in his office in New Delhi and submitted a memorandum on Wage Revision. 

“Despite the fact that 20 months have passed since the negotiations began, no significant improvement has been made towards an expeditious conclusion of the settlement. More, IBA is offering the least increase, quoting non-affordability of banks in paying higher wages, partly because of an increase in non-performing assets,” said UFBU convener

FM assured that he would call for the particulars and look into the matter!

full details economic times Business standard



3 Responses to “UFBU meets FM-seeks early wage settlement”

  1. M.V.Sarveswara 28/06/2014 at 10:04 pm #

    a small step in right direction.let us hope this will also be a big leap for bank employees. FM has indicated that ‘ Financial Services Secretary R S Sandhu would look into the matter and the settlement process expedited ‘. I only hope he will understand our position and will be sympathetic to us. we have waited too long.


  2. ashok 06/07/2014 at 1:31 pm #

    the new govt. is not too interested in giving white collar work force a reasonable deal. they are geared to serve the interests of the business class by squeezing labour. they are most likely to brin g in drastic changes to labour laws in favor of business class.


  3. siladitya choudhury 07/07/2014 at 12:40 pm #

    linking wage revision to NPAs of banks is not quite appropriate. Recent rise in NPAs is not a permanent feature. Contributing to rise in NPAs among others are on account of loan waivers, restructuring proposed by GoI and RBI. why hold banks responsible ? Improved performance by banks and accountability would be forthcoming with Guv Rajan’s proposal to govt for implementation of Nayak Committee recommendations which is pending govt’s approval. So why hold up the revision of wages and pension ?


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