Home11th Bipartite Settlement11th Bipartite Settlement Talks with IBA - Latest News

11th Bipartite Settlement Talks with IBA – Latest News

- Advertisement -

11th Bipartite settlement Talks with IBA – Latest News


Circular No. 36/2019

18th September 2019

To all Units, Office Bearers, CC & GC Members

Dear Comrade,

- Advertisement -

Bipartite Talks

Another round of negotiations for 11th Bipartite settlement took place yesterday at Mumbai. Representatives of 9 constituents of UFBU were present. On behalf of BEFI, the undersigned attended the meeting.

IBA increased its offer to 12% from 10% offered in the month of February 2019. The increased offer was not acceptable to UFBU and it was told that IBA should come up with offer of more than what was
agreed in the last settlement in percentage term to take the negotiation forward. IBA proposed for 2% loading on BP after merger of DA like last settlement. Discussion did not take place in this regard. UFBU has to take a position on this matter.

On the issue of mandate, IBA agreed to take up the matter with the concerned banks and on 5 day banking IBA informed that all stake holders are yet to reach unanimity so far.

In respect of improvement of family pension IBA agreed for joint actuarial calculations and on updation/revision of pension IBA will share data with UFBU for our further study. From UFBU, we proposed for increase of Ex-gratia to pre-1986 retirees and reduction in annual premium on Medical Insurance Scheme for the retirees including exemption of GST on premium.

In respect of Performance Linked Incentive (PLI), IBA submitted a power point presentation and supplied the participating unions with hard copies. They proposed that PLI would be over and above the fixed increase. IBA clarified that it will be different from bank to bank on the basis of performance and will be paid on yearly basis with prospective effect.When asked for in-principle agreement of introduction of PLI, we expressed our reservation and told that BEFI is not in agreement with the proposal. UFBU would give its suggestions in matter of PLI in subsequent discussions.

With greetings,

Yours comradely,
(Debasish Basu Chaudhury)
General Secretary

Source : http://www.befi.in

- Advertisement -


Please enter your comment!
Please enter your name here