As per AIBEA (All India Bank Employees Association), Next round of bipartite talks with main Negotiating committee is on 7th December at 3.30 pm.
Negotiations between bank unions and the Indian Banks’ Association (IBA) are progressing towards a resolution, with a potential salary hike of 15%-20% and the introduction of a five-day work week gaining traction.
This marks a substantial shift from past negotiations, as the IBA’s opening offer of 15% signifies the first time that discussions have commenced with a double-digit wage increase.
“This is the first time in the history of negotiations that the offer (for wage hike) is starting with 15%. It (wage hike) will likely be between 15% and 20%,” sources at the IBA told.
The development comes as the present salary agreement for PSB employees has expired on November 1, 2022. From this time, the IBA and the unions representing bank employees have been negotiating for the new wage agreement.
The business hours will begin early on weekdays and close 30-45 minutes late than the current working hours
