UBFU to go on strike on 28th October for wage revision
UBFU to go on strike on 28th October for wage revision

United Forum of Bank Unions (UFBU) has decided to go on strike on 28th October. In a meeting held with the UFBU at Mumbai, Indian Banks’ Association that represents banks managements was reluctant to improve their offer of 11 per cent  for wage revision. “In view of this, the UFBU has decided to resort to agitation programme including all India bank strike on 28th October”, said Shri Ashwani Rana, Vice President, National Organization of Bank Workers (NOBW).

United Forum of Bank Unions (UFBU) is an umbrella organisation comprising nine employees unions of Bank workers.

The 10th bi-partite settlement is due from November, 2012. Indian Banks’ Association has offered a meager rise of 11 per cent that was rejected by the bank unions. Earlier, a delegation of NOBW had met Finance MinisterArun Jaitley with the demand of expeditious negotiations. IBA on the other hand has proposed bank unions to scale down their demand of a 25 per cent rise.

Bank employees had gone on two-day strike in February earlier this year to press for their demands citing high inflation and rejecting the IBA’s offer of a 11 per cent hike in the cash component of the pay package. It included basic pay, dearness allowance, house rent allowance, routine medical expenses and a special allowance, but excluding superannuation benefits, travel allowance and hospitalisation reimbursement.