UFBU Circular : Another round of bilateral discussions took place between our Unions and IBA on 28-02-2023 in Mumbai. During this meeting, the following issues were discussed:

1.         5 Days Work Week:   Members would recall that in the last round meeting, IBA proposed that for introduction of 5 day working, the daily working hours, cash and non-cash transaction hours have to be increased by 45 minutes per day against our proposal for 30 minutes per day. After a lot of discussions, it has emerged that the total working hours can be increased by 40 minutes per day with cash transactions from 10 am to 4 pm and non-cash transactions upto 4-30 pm. IBA would take up the matter with higher authorities and concerned stake-holders to take the issue further forward.

2.   Updation of Pension: From our side, we have submitted our demand that the pension of all retirees upto October, 2017 should be updated and improved upon with particular reference to pre- November, 2002 retirees who are comparatively getting lesser quantum of pension. We suggested that the cost of such increase in pension should be calculated for each Settlement period from 1-1- 1986 to 31-10-2017 so that the issue could be further discussed and negotiated with a view to cover as many Settlement period as possible and with a road map to cover all pensioners upto 31-10-2017. IBA agreed to provide the necessary details at the earliest so that discussions can be taken forward.

3.   Conversion of employees/officers from NPS to OPS: To our demand for covering all the post 1-4-2010 employees and officers under Old Pension Scheme instead of the present New Pension Scheme, IBA informed that since the issue involves change in the Settlement, the issue could be discussed during the negotiations for the next wage revision.

4.   Commencement of negotiations on Charter of Demands: We reiterated our demand that on the Charter of Demands submitted by the Unions for revision of wages and service conditions for employees and officers, the IBA should commence the formal negotiations so that the Settlement could be arrived without much delay. IBA informed that the demands submitted by the Unions have been forwarded to the Banks and seeking their mandate to IBA to negotiate with the Unions. We have suggested that pending receipt of such mandate from Banks, IBA should commence the negotiations. IBA agreed to discuss the matter at their level for taking necessary decision in this regard.