Public sector bank employees have called for a two-day strike on August 6 and 7. The decision was taken in the backdrop of failed talks between the United Forum of Bank Unions (UFBU) and Indian Banks’ Association (IBA) on wage revision.
UFBU Convener C H Venkatachalam said, “IBA had earlier made an offer of 17.5 per cent increase in banks’ wage bill, while we were asking for a 20 per cent raise. But, on June 17, IBA informed us that their offer stands withdrawn and reduced to 15 per cent.”
“This has created a very serious and unprecedented affront to the entire negotiation and created a major stumbling block,” he added.
In his meeting with IBA Chairman M V Nair in Mumbai today, Venkatachalam informed that the revised offer was completely unacceptable, besides being provocative. In response, Nair said that IBA was acting in accordance with government guidelines and maintained the revised offer of 15 per cent.
Essentially, this means that banks’ wage bill will jump 15 per cent over the current bill, costing them an additional expenditure of around Rs 4,125 crore.