RBI unions ask Guv Shaktikanta Das to break deadlock in wage talks

The United Forum of Reserve Bank of India’s Officers and Employees has written to Governor Shatikanta Das requesting him to break the impasse over wage revision negotiations between the unions and the central bank management which hit a roadblock during the final round of discussions.

The revision of wages for all RBI staff is due since November 2017, but has been delayed due to the Coronavirus (Covid-19) pandemic. Discussions started at the end July virtually, but hit a roadblock in the last week of September.

In a communication to Das, the United Forum, which represents four unions of RBI employees, said that the negotiations had started at a brisk pace, but were held up for ‘some unexplained reason’.

“All RBI staff across the country eagerly await finalisation of the revision process, which will brighten their festive days. Further delay will beget restlessness and frustration, you will please empathise,” the letter, reviewed by Business Standard, said.

The unions stressed on an early resolution of the issue, as there has been inordinate delay due to the Covid-19 pandemic. The unions also want the issue to be resolved as Das’ three-year tenure as governor ends in December.

The governor’s office has assured the unions of an early resolution.

The discussions hit a wall in late September when RBI officials declined to give a copy of the draft settlement to the unions. A physical meeting was called by the RBI – in the presence of executive director, administration and the unions on September 22  - to finalise the wage negotiation. However, on September 27, the unions were informed that RBI was unable to give them the draft settlement. The unions sabehind y that the human resources department did not give any reason for the delay.

This is the second communication from the unions to the governor in less than a month on the issue, requesting his intervention in the matter.

Earlier, in September, the All India Reserve Bank Employees Association (AIRBEA) wrote a letter to Das just after the physical meeting hit a deadlock.

“Keeping AIRBEA office bearers and other representatives waiting in Mumbai for days and then asking them to go back without any rhyme or reason, when they have fully cooperated all throughout and the staff everywhere had been waiting for a settlement after a long delay was extremely frustrating and also insulting for the association and its entire membership, you will please appreciate,” the September communication said.

AIRBEA cautioned that such a stalemate was bound to create strong resentment all around, while requesting governor’s intervention for a faster resolution.

In November last year, wage negotiations among commercial banks (mainly public sector) and Indian Banks’ Association concluded with a 15% annual wage hike agreed upon by both parties. The banks' wage settlement acts as a benchmark for other such wage settlements for the financial sector. Typically, the annual wage increase is slightly higher for RBI staff than commercial bank employees.