There is going to be a meeting on 27th November 2009 in Kolkata between Indian Banks’ Association (IBA) and United Forum of Bank Unions (UFBU) to discuss and derive a consensus in the matter of wage revision. The Bank employees’ wage revision due impending on November 2007.

Nearly 7 lakh public sector bank employees are eagerly waiting for the outcome of this meeting.

By the way, both the parties have agreed on a 17.5% wage hike. There has been agreement on offering monthly standard pension to the bank employees who missed to opt for it in 1993. However their previous meeting ended inconclusively.

This what All India Bank Employees Association (AIBEA) president Rajen Nagar said:

“Issues like accounting for the cost of pension and the cost sharing arrangement between bank management and employees, the proposed introduction of New Pension Scheme (NPS) and variable pay are some issues that need to be resolved,”

For more information visit AIBEA official website : http://www.bankunionaibea.org/ or  the updated website at http://www.bankunionaibea.in/

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