Salary Revision of Bank Employees

IBA has now offered 9.50% increase and next meeting will take place on 27.01.2014. On it meeting on 27.01.2014 the IBA has revised theNews offer to 10.00%, however UBFU has declined it and talks have failed.
As the Indian Banks’ Association and the United Forum of Bank Unions return to the negotiating table on Friday at the directive of the Chief Labour Commissioner, the bank unions are likely to demand a 30 per cent rise in gross pay.
In the last wage revision which was due on 01.11.2007 it took almost two and half years to got finalised as the last wage revision of 2007 was finalised on 27.04.2010 with an increase of 17.50% in salaries. In the wage revision of 2002 the salaries were increases by 13.25%.
It is difficult to predict, however going by the weak negotiations by the Bank Unions with IBA, till now, it seems that this is going to be another poor wage revision for Bank Employees. The IBA has so far offered only 5%, unions are also not strong enough to demand a good wage revision, it seems that this wage revision will end with a maximum of 10-15% salary increase and the salaries of Bank Employees will further deteriorate vis a vis Central Government Employees.