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Thursday, June 12, 2014

United Forum of Bank Unions, Indian Banks' Association to meet on Friday over wage hike issue

Unions of public sector banks are scheduled to meet Indian Banks' Association (IBA) on Friday to discuss the issue of wage revision. 


Representatives of the United Forum of Bank Unions ( UFBU), an umbrella organisation comprising nine employees unions, will hold the meeting with IBA which represents managements of Indian banks. 



Bank employees had gone on two-day nation-wide strike in February to press for their demands citing high inflation and rejecting the management's offer of a 10% 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. 

Source:The Economic Times

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