(Affiliated to AIBOC)




Minutes of the discussions held between Indian Banks’ Association (IBA) and United Forum of Bank Unions (U.F.B.U.) ON 23/25-2-2008 over strike notice served by United Forum of Bank Unions on Indian Banks’ Association proposing nation-wide strike in banking industry on 25th January, 25th & 26th February followed by indefinite strike from the last week of March, 2008 to press their 6 point charter of demands.



I. The representatives of the IBA agreed to hold discussions with the United Forum of Bank Unions (UFBU) on 3rd March 2008 to set a definite time frame for holding discussions on each of the UFBU’s following proposals.


1. Reconcile the actuarial calculations relating to pension with a view to consider extending one more option of pension to the remaining employees who are under CPF.


2. The issue of allowing coverage to the employees and officers through pension scheme recruited in the banks between 1-11-93 and 28-9-95 which will be once again taken up with the Government for reconsideration.


3. As regards restoration of compassionate appointment scheme, the IBA requested the UFBU to suggest improvement, modifications, etc. to the scheme to enable IBA to refer the matter to Government for further consideration.


4. On the demand of UFBU that proper recruitment is not taking place in banks resulting in increased workload for the employees and officers, the representatives of IBA maintained that recruitment is a bank specific function. However, the UFBU maintained their own view that the IBA should advise the banks to ensure adequate recruitment in the banks through proper procedure, etc.


5. As regards outsourcing, the representatives of IBA agreed to discuss the matter with UFBU keeping in view the existing parameters and regulatory guidelines.


6. As regards merger of the public sector banks, the representatives of IBA submitted that there are no directions or guidelines from Government of India to banks on the subject of merger/consolidation of banks and as such the demand is premature. The UFBU did not agree to the view of IBA and strongly maintained that IBA should ensure that management of banks should not proceed with the merger unilaterally without addressing the concerns of the Unions.


7. As regards revision of wages the representatives of IBA submitted that the machinery has been set in motion and once the mandates from all the banks are available, bilateral negotiations will commence.


II. The representatives of UFBU brought to the notice of CLC(C) during conciliatory proceedings held on 22nd February 2008 that some of the banks have been violating the pension regulation by excluding the newly recruited officers from the existing pension scheme without amending the pension regulation which is discriminatory and beyond the competence of the concerned banks.


III. In view of the above discussions the representatives of UFBU agreed not to resort to the proposed strike/agitation.


Signed at Mumbai on 25th February, 2008.


Representing IBA                                                                              Representing UFBU