INDIAN BANKS ASSOCIATION (IBA) invited the unions of UFBU for a meeting today at 10.30 AM on the issue relating to Strike Call on 12.06.2009.

Explaining the stand of IBA, IBA Negotiating Committee Chairman, Shri M V Nair, Chairman & Managing Director, Union Bank of India, stated that IBA would like to expedite the wage talks and related issues. It is from UFBU, it was placed to the IBA that UFBU is not agreed to the New Pension Scheme (NPS) for the new recruits. We wanted the issue to be open for discussion after expiry of the present settlement, i.e., 31.10.2012 whereas IBA wanted 31.03.2010 as the cut-off for NPS. IBA said they would discuss and come back.

In respect of Compassionate appointment, IBA assured that they will talk to the Government and get the needful done.

On wages, UFBU placed its minimum demand of 20+% on wage rise. In that event, UFBU are agreeable to contribute Rs 1800 Crore for pension contribution.

After discussion, IBA has agreed to call the UFBU within a week and assured expeditious steps to clinch the wage revision issue.

In view of the positive nature of discussion, UFBU met after the discussion and decided to defer the strike on 12th June 2009 and await the outcome of the talks next week.

Source : ALL INDIA BANK OFFICERS’ ASSOCIATION