Unions willing to sign banks' turnaround pact, with riders

The turnaround plan for banks is being formulated by SBI Caps

Bank unions agreed to sign a turnaround pact in Kolkata on Friday, provided the lenders discussed the blueprint with them. 

In a big relief to banks, the unions of 10 banks are also expected to agree on curtailment of perks, subject to conditions.
 

 "We have decided that we will have no objection in signing the memorandum of understanding (MoU), provided the turnaround plan is discussed with us before implementation," Rajen Nagar, president, All India Bank Employees Association told Business Standard.
 

On Thursday, the banks had sent out MoU copies to unions stating "management, employee union, and officers' association commit by this