Detailed Report on Negotiations with IBA – BEFI

Detailed Report on Negotiations with IBA – BEFI

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Circular No: 01/2015

08th January 2015

To All Affiliates/Office Bearers/CC/GC Members

Dear Comrades,


At the very outset, we wish all our members, their families, well-wishers and all acquaintances a VERY HAPPY AND PROSPEROUS NEW YEAR 2015.

In view of the Strike Notice by UFBU, the Chief Labour Commissioner (Central) convened a Conciliation on 05th January 2015.

In the conciliation, we emphasized that the proposed strike actions have been thrust on us by a totally indifferent and negative attitude of IBA in the matter of wage negotiations, despite flexible approach adopted by UFBU; we also took serious exception to IBA’s communication to the member Banks to re-visit the mandate. IBA, on their part, assured that they had no intention to complicate matters and expressed eagerness to resume negotiations on 06th instant.

Accordingly, another round of negotiations took place on 6th in Mumbai when, after prolonged hard-bargaining, IBA improved its offer from 11% to 12.5% of pay-slip components. While making it absolutely clear that this was not at all acceptable, UFBU demonstrated its flexibility by further revising its demand to 19.5% increase. IBA, while indicating its willingness to continue the negotiations on 07th too, requested for withdrawal of Strike programmes.

In view of some improvement in the talks, UFBU decided to defer the proposed Strike of 07th January 2015.During the negotiations on 07th, UFBU once again insisted on IBA for further improving its offer, to which IBA expressed that they want some more time for discussion amongst themselves. To our demand that negotiations be held at regular intervals for arriving at a settlement without further delay, IBA responded positively and indicated its intention to conclude the process by the end of February 2015. It was decided that Sub-Committees would be formed for expeditious resolution on some of the contentious issues, like reimbursement of 100% of Hospitalisation Expenses, regulated working-hours for officers, 5-day week, etc., raised by UFBU. IBA also agreed to discuss the Pension related issues/demands of UFBU.

Comrades, the united might of bankmen throughout the country has restored the negotiation process; but nothing should be taken for granted. We may only assure that the UFBU would leave no stone unturned to clinch a reasonable and fair deal for all the employees and officers as expeditiously as possible. However, given the past record of the IBA as also of the Government, we must be vigilant and remain organizationally prepared for any eventuality and to plunge into action, even at shortest possible notice.

Further developments would be communicated to you all in due course.

With greetings,

Comradely yours,



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