Banks to resume wage revision talks with trade union leaders on July 22

Discussions will factor in the impact of the pandemic on banks' finances

Banks will resume talks with trade union leaders on the much-delayed revision in wages, on July 22 — a first such meeting after the pandemic impacted economic activities in India.

The Indian Banks’ Association (IBA), which represents the managements of banks, is scheduled to hold a meeting of its negotiating committee with associations of workers and officers, in Mumbai.

The last such bi-partite meeting took place on February 29, before a two-month national lockdown was enforced in March to manage the Covid-19 pandemic.

What makes the talks significant is that the impact of the pandemic on banks’ finances will be factored in. The