Bank wage talks begin on May 2

The Pay Commission had recommended an overall 23.55 per cent hike in basic pay plus allowances

Wage negotiations between bank employees and staff unions, on the one hand, and the bank managements, on the other, will get off the ground on May 2, on hopes of finalising the package by the end of October.

Bank officers, employees, and staff organisations will work through the United Forum of Bank Unions (UFBU), while the Indian Banks Association (IBA) would represent the bank managements.

Banking union sources said the first meeting would be an introductory one. The forum has given a summary of demands and will submit the details when talks begin. Sanjeev K Bandlish, convener, UFBU, representing 11