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While the All-India Bank Officers'
Confederation (AIBOC) has expressed its readiness to cooperate for an early
salary revision settlement, it has categorically stated that it would want the
Indian Banks' Association (IBA) to come out with an improved offer. The AIBOC had rejected the earlier offer of
an 8.8 per cent increase in the payload. Industry insiders, however, hinted about
some forward movement in the salary revision negotiations that resumed 10 days
ago. "The prospects of an MoU being reached in May and a final settlement
by mid-June appears to be high, with the IBA declaring that it is for a
settlement in June. But everything depends on the understanding between the
negotiating teams on the issues raised," an industry spokesperson told
Business Line. Meanwhile, it is reliably learnt that a
small committee is slated to meet on May 6 to work out the minor details in the
event of an agreement being reached on the amount of revision. This is to be
followed by a management committee meeting for a final review in mid-May. Union sources state that there was no reason
for a denial of a fair increase in the load factor as all banks had recorded
impressive performance. They stood their ground on an industry-level
settlement. While expressing its confidence of
striking a fair deal by mid-June, the AIBOC has advised its members to be ready
for an action programme at short notice should expectations prove otherwise. |
