Financial Daily from THE HINDU group of publications
Monday, Oct 04, 2004
Financial Daily from THE HINDU group of publications Monday, Oct 04, 2004 |
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Money & Banking
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Trade & Labour Unions Bank wage talks to resume Our Bureau
Chennai , Oct. 3 AN improved wage offer from the Indian Banks' Association led to the withdrawal of the threatened two-day strike on October 5 and 6. IBA has offered a wage hike that would amount to Rs 1,800 crore compared with Rs1595 crore offered earlier. The offer came at a conciliation meeting held under the auspices of the Chief Labour Commissioner, Mr S.K. Mukhopadhyay, at Mumbai. Mr C.H. Venkatachalam, Convenor, United Forum of Bank Unions, said that this was an interim offer. The unions had decided to withdraw the strike and talk further on the issue. "This is an interim arrangement. We have asked IBA to develop its offer further and negotiate seriously. They have raised their offer to 11 per cent against the minimum increase of 12.25 per cent that we have been demanding." Further talks on the issue, would resume on October 8, he said. No agreement could be reached on the issue of mobility/ transfer of clerical staff.
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