The Regional Labour Commissioner (RLC), Mumbai, has called for a conciliation meeting of the United Forum of Bank Unions (UFBU), managements of the three weak banks - UCO Bank, Indian Bank and the United Bank of India - and the Indian Banks' Association (IBA) on June 23 to avert the one-day stir called by the unions on July 4 to press their demand for immediate release of wage arrears in the three banks.
In its strike notice to the regional labour commissioner, UFBU, which is an umbrella forum of nine unions representing bank employees and officers, contended that there has been no response on the part of the triumvirate of IBA-bank managements-central government for release of overdue arrears for the period November 1, 1997 to June 30, 2000 despite the three banks making commendable progress in all spheres and fields of performance.
"While the banks have sufficient funds to make payment to voluntary retirement scheme (VRS) optees, the legal dues of the employees and officers are being delayed indefinitely resulting in acute and widespread discontentment and frustration amongst the employees," sources said and pointed out that what was at stake was the sanctity of the settlement process, which is morally and legally binding on managements of banks.
Also Read
"We are of the firm view that direct action has become necessary, hence the all India industry level strike call on July 4," they said.
The ball is now in the government's court and managements of the three banks will have to work out the modalities of payment of arrears with the former, a senior IBA official said adding that the apex banking body could only play the role of a facilitator.
Though the Centre has envisaged a two-year moratorium, which ends in 2002, for payment of arrears to employees of the three weak banks, there is a provision for an earlier clearance of the dues after examination of the financial health and performance of the respective banks.