Further to our successful 2 days strike on 31st January and 1st February, 2020, today, one more round of bipartite talks was held in IBA office in Mumbai. IBA team was led by Shri Rajkiran Rai G, Chairman of the Negotiating Committee. We were represented by our 9 constituent unions.
After a lot of discussions, the following points emerged today:
• Offer on Pay slip cost increased to 15%.
• Our demand on 5 Day Banking will be taken forward by further discussions.
• Our demand for loading more than 2% will be considered by a Joint Committee
of IBA and UFBU.
• In addition to 15% offer, encashment of Privilege Leave at 5 days per year.
• Improvement in Family Pension - matter recommended to Government, will be
• On updation, IBA agreed that some improvement in the Pension would be
worked out for the retirees of earlier settlements period by working out the
• Revised offer on PLI was given at 1.37%, 2.74% and 4.11%.
IBA agreed to discuss all other issues through further discussions. In view of these positive developments, all our agitational programmes including the ensuing 3 days strike from 11th March, 2020 stands deferred. We congratulate all our unions and members for their unity and co-operation due to which the improvements as above could be possible. Further negotiations will continue at the earliest and it would be our endeavour to reach a full-fledged settlement at the earliest.