Banks to Remain Closed on all Saturday - Bank Unions

Advanced 467 Reasoning Puzzles Book SBI PO 2018

Banks to Remain Closed on all Saturday - Bank union

This year, employees union and officer association have demanded holidays on all Saturdays.
Nearly eight lakh bank employees and officers wrangling over their next wage hike with bank management are set to resist the banks’ move to wrest independence to decide the managerial staff emoluments based on performance, said two people familiar with the matter. The management lobby, Indian Banks’ Association (IBA) and unions are set to meet on Tuesday amidst the worst environment for banks in years. 

Every five years PSU bank management negotiates wage hike with employees union and officer association. This time, IBA has suggested two changes- each banks would decide wages of those above scale III and wages of officers from scale I to scale III will be divided into fixed and variable component. The variable component will be linked to performance. “We are going to oppose these two suggestions,” said general secretary of All India Bank Employees Association (AIBEA), C H Venkatachalam. 

Senior bank officials say with bank mergers plan gathering momentum, the trade unions are determined to keep their hold over wage negotiations as yielding even an inch by giving each bank the power to decide on pay hikes would weaken their movement, which has so far been successful in getting their wish irrespective of performance. 

Also this would be the first time, the unions are set to demand that banks agree to set up crèches near the branches or near residential complex to ensure that participation of women increase in the industry where they constitute just 20% of the total workforce. 

“We have seen that 50% of the incremental recruits are women but the total women workforce is just 20%. This means that a number of women maybe dropping out be take care of their children,” said Ventatachalam. 

The last wage agreement known as 10th Barpatite ended in 2017, wherein the management had agreed to give a 15% hike in wages saw landmark development of banks keeping its branches shut for two working Saturdays and working full day and the remain two Saturdays. This year, employees union and officer association have demanded holidays on all Saturdays.
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