11th baipart sattelment news
WAGE REVISION TALKS WITH IBA We reproduce hereunder the Circular No. UFBU/2018/18 Dated the 12th October 2018 issued by Com. Sanjeev K. Bandlish, Convenor, United Forum of Bank Unions(UFBU), for information of all affiliates and members. With revolutionary greetings, (R. K. SHARMA) GENERAL SECRETARY “Another round of Bipartite Talks took place between IBA and UFBU today at Mumbai on our demands for wage revision. IBA team was led by Shri R.K. Takkar, MD/CEO of UCO Bank and Chairman of the Negotiating Committee. UFBU was represented by our 9 constituent Unions. Continuing the discussions held in the last round of meeting held on 29-9-2018, IBA wanted our response to their proposal given in the last meeting to decide wage revision Bank-wise based on capacity to pay to be determined through a formula based on Operating Profits and Return on Assets of each Bank every year. In reply, from UFBU we stated that while varying performance of the banks can be a basis for formul