12th BPS: IBA-UFBU to Meet on February 13th for Next Round of Negotiations; Lingering Concerns Persist

The next meeting for the 12th Bipartite Settlement (BPS) negotiations is slated for 13 February, 2024, amidst mounting concerns and discontent among bankers. Following the signing of the Memorandum of Understanding (MoU) and cost sheets between Indian Banks Association(IBA) and United Forum of Bank Unions(UFBU), bankers are grappling with pressing issues, fueling their frustration over the prolonged delay in finalising the settlement.

Bankers have voiced a range of concerns regarding the 12th BPS, highlighting issues such as inadequate wage increment, unsatisfactory loading factor, and the failure to address demand for the merger of special allowances with basic pay. The dissatisfaction among bank employees is palpable, with many taking to social media platforms to express their discontent over the perceived shortcomings of the MoU and costsheets. They argue the long pending demands of the banking community were compromised in the hurried signing of the MoU and cost sheet. Though the MoU promises improvement in pension benefits, voices of dissent were alive among retirees particularly on the ‘ex-gratia’ clause mentioned in it, claiming ‘pension is a right, not a gift’.

Another controversy loomed around the specifics of the cost sheet, which is not yet disclosed officially. Some of the documents containing details of the signed cost sheet were circulated in Social Media leaving room for speculation. Though the UFBU leadership had denied the authenticity of these documents and requested their cadre to refrain from circulating it, many bankers on social media came out strongly against the specifics and the official secrecy surrounding the process. Some affiliated unions came out publicly against this whereas some wrote to the UFBU leadership expressing their dissatisfaction.

Inside Insights by Kanal

As per the inside information accessed by Kanal, concerns of bankers have been causing fallouts even within UFBU. Some of the member unions of UFBU strongly voice these concerns inside the umbrella platform. On the demand to merge special pay with the basic pay, IBA has been maintaining that the merger will be considered only after the final settlement whereas some unions insist on an urgent resolution. 

The specifics of the signed cost sheet has not been disclosed officially yet, and it was served only to three of the major unions in UFBU. This has caused dissatisfaction among the minority unions, and many of them wrote to UFBU leadership seeking clarification on the circulated details. Even affiliated unions of the majority unions have written to their parent organisation on this matter. 

The clause in the cost sheet allowing the management to assign additional duties and responsibilities to the clerical cadre, has faced staunch opposition from unions including BEFI and NCBE. The move saw the wrath of bankers on social media as well. In the meeting scheduled on 13 February, this move is expected to become the focal point of discussions. 

Another major demand of the banking community is the implementation of 5 days banking, which has not seen the green signal during the course of 12th BPS negotiations. Although the IBA and the UFBU have reached a consensus, the final call is due with the Department of Financial Services. Sources say unions including – NCBE – one of the major unions among the workmen, are also maintaining the position that they will not sign the final settlement without the implementation of 5 days banking. 

While the minority unions in the UFBU oppose many terms of the 12th bipartite, majority unions explain the ‘compromises’ as inevitable to ensure new recruitments in the banking sector, inside sources told Kanal.

All India Ex-Servicemen Bank Employees Federation’s letter to the convener of UFBU.

Meanwhile in a recent development, the All India Ex-Servicemen Bank Employees Federation UP has come out strongly against the proposed terms and conditions of the ongoing 12th BPS negotiations, particularly concerning awards/sub staff. In their letter addressed to the convener of UFBU, the federation is urging the signatories for urgent intervention and corrective measures to address the grievances of bank employees.

The upcoming meeting of the 12th Bipartite Settlement negotiation holds significant importance for bank employees, as they eagerly await a resolution to the lingering issues that have been a source of frustration and dissatisfaction. The outcome of the meeting will shape the future of the banking sector and determine the welfare of bank employees across the country, underscoring the importance of addressing their concerns in a timely and effective manner.