IBA's Mar 3 meet to set agenda for discussing union's demands

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Mumbai, Feb 27 (UNI) The Indian Banks' Association (IBA) is likely to lay out a schedule of picking up contentious issues, including pension scheme and wage issue, in its post-budget meeting scheduled for March 3.

Briefing reporters here today, after the IBA meeting with public sector bankers, Association Chief Executive H N Sinor said, ''The next meeting will set a time-table for picking up the contentious issues raised by the unions, which will be later discussed for an amicable resolution.'' He said that in today's meeting, the bankers were briefed about current developments and the situation after signing the memorandum of understanding (MoU) with the United Forum of Bank Unions regarding their demands.

Apart from the opposition of public sector banks' merger, the union had demanded one more option for pension for the bank employees, which the management have been opposing over the last few years. Restoration of compassionate appointments in banks and avoiding outsourcing of certain functions to outside parties were the other demands of the unions.

When asked about the pension scheme issue, Mr Sinor said that it was the most contentious issue and the pension burden on banks need to be calculated. While the union claimed that the burden would be Rs 14,700 crore the IBA had estimated it at Rs 26,000 crore, which is a considerable difference, he said.

IBA has suggested the bankers to constitute a panel to discuss the issue in the next meeting would decide on the name of the panelists. It will also be decided when the issue would be taken up and the method of its resolution, Mr Sinor said.


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