Bank employees keen on early start to wage talks, says BEFI leader

Bank employees numbering several lakh, across public, regional rural and old generation private banks in the country, are keen on an early start to the next round of wage negotiations between the unions that represent the workforce and Indian Banks’ Association (IBA).

“Wage revision is due since November 2022. Since the last, 11th bipartite settlement effective November 2017 (reached in November 2020), we observe banks are not smoothly authorising IBA to start negotiations,” General Secretary of the Bank Employees’ Federation of India (BEFI) Debasish Basu Chaudhury said in an interaction.

While some banks delay their mandate to IBA, a few authorise the association to negotiate only up to a particular payscale as beyond that, they desire to have their own arrangements with the officers, he said, adding this time too when the unions insisted on launch of discussions, IBA said most banks were yet to give their mandate. “A few days ago, the United Forum of Bank Unions had urged IBA to start negotiations pending whatever mandate. This is where we are standing,” he said. In the last settlement, a 15% pay increase formed the core of the agreement.

Five-day week

Mr. Chaudhury, who was in Hyderabad for BEFI Telangana unit’s second conference recently, said the delay in wage talks is not the only concern as the bank workforce is also awaiting implementation of a five-day week in banks agreed at the last bipartite settlement.

The five-day week — with all Saturdays being holidays as against the second and fourth now — was a long-standing demand of unions and came in the backdrop of the employees and officers hard-pressed amid changes in government policies. Their numbers have reduced drastically and non-banking business such as mutual funds, insurance have increased and targets for the same set for employees. A reduction in number of banks has also meant closure of thousands of branches 2019 onwards. With the workforce logging more hours daily, work-life balance has become more important than before, he said, pointing out to how Central, many State governments as well as stock exchanges follow a five-day week.

The bank unions have already authorised IBA to increase work hours by 40 minutes a day to compensate for the time reduced on account of all Saturday holidays. The proposal is before the Centre with an understanding that the Finance Ministry will discuss it with other stakeholders. He expressed confidence that all concerned will consent, especially alternative banking delivery channels becoming popular.

Besides better wages and other demands of employees, BEFI is fighting for strengthening of banks, including RRBs and those private, measures to safeguard public money and opposed to privatisation of banks, he said.