Bank staff still wary of wage revision as process takes off

Mumbai: The formal process of next wage revision, which is due since November 1, 2022, has kicked off with the shooting off a letter by the government at the Centre to the heads of all the State-owned lenders including State Bank of India (SBI).

The Department of Financial Services (DFS) has written a communique to the chairman of the country's largest lender, SBI and all other State-run lenders in this context.

In the letter dated January 20, the banks' honchos have been asked to initiate the process of negotiations for next wage revision of the employees due from November 1, 2022. Bizz Buzz has seen a copy of the letter.

Of course, the banks will have to first bring the issue before their respective board before they begin the process. The letter has strictly talked about the approval to be taken by the competent

authority for the same.

Talking to Bizz Buzz, CH Venkatachalam, General Secretary, All India Bank Employees' Association (AIBEA) says: "We have submitted the charter of demands in October 2022 to IBA. Nothing was moving. They did not even refer our demands to see their mandate to negotiate with the unions."

So this was an important issue in our strike notice. Now, the letter from DFS is good development, he said.

There can't be further excuses. Hope this will move forward, he added. Meanwhile, a meeting of United Forum of Bank Unions (UFBU) was held in Mumbai on January 12.

"Since there is no response from IBA on our demands despite letters, it has been decided to revive our agitation and to give a call for strike on January 30-31 on various demands. They include 5 days banking, update of pension, residual issues, scrap NPS, immediate starting of negotiation on charter of demands for wage revision and adequate recruitment in all cadres," said Sanjeev K Bandlish, Convenor, UFBU.