Indian Banks' Association offers 6% wage hike; unions reject the offer

Various rounds of wage negotiations between banks and unions failed to make any headway

The Indian Banks’ Association (IBA) offered a higher wage hike of 6 per cent, against its previous offer of 2 per cent to bank unions on Monday, sources said.

“The bank management increased the offer to 6 per cent. However, the trade unions, represented by the United Forum of Bank Unions (UFBU), rejected the offer. The talks will, however, resume,” a spokesperson of the All India Bank Officers’ Confederation (AIBOC) said.
 

The IBA and UFBU are slated to meet on August 28 to take the talks forward, sources said.