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12th BPS Meeting: 5-Days Banking A Roadblock in Signing Joint Note?
Recap of the recent negotiation meeting between IBA and UFBU for the 12th Bipartite Settlement, addressing finalised aspects, concerns over 5-day banking, and the need for expedited resolution.
Author: Abhivad
Published: February 14, 2024
The negotiation meeting for the 12th Bipartite Settlement (BPS) between the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU) took place on 13 February at the IBA office in Mumbai. The discussions were divided into two sessions, with talks held with Workmen Unions in the morning and Officers Associations in the post-lunch session. Concurrently, a UFBU meeting occurred to decide the stance on the long pending 5-day work week.
(UFBU leader and AIBEA General Secretary C H Venkatachalam shared the official circular on X.)
According to an official communication from UFBU regarding the meeting, the draft of the settlement was mostly finalised, with some aspects such as the formula for ex-gratia to pensioners needing fine-tuning. UFBU emphasised the need for expedited clearance of the 5-day banking proposal, with the meeting deciding to hasten the clearance of this and remaining issues to reach a final settlement.
Discussions extended into the late night, with IBA and UFBU reaching a consensus on most issues. However, the signing of the joint note/final settlement was delayed due to the unresolved matter of 5-day banking. There has been no confirmation from higher-level administration regarding the implementation of this proposal, with decisions expected from the Ministry of Finance and the Prime Minister's Office, according to various sources.
Regarding the provision to assign additional duties to the clerical cadre, discussions were detailed, and some amendments were made considering strong opposition from the workmen, as per inside sources. Official disclosure of the specifics is yet to come.
G Kripakaran, convenor of UFBU in Tamil Nadu and the All India Joint secretary of NCBE told Kanal that in one way it is fair to say that the declaration of 5 days banking has become a roadblock in reaching the final settlement in the last meeting. “5-days banking has been our consistent demand since the 11th bipartite settlement. In February 2023, IBA also agreed with the demand and referred the final decision to the Department of Financial Services(DFS). But, the past year has not seen any progress in this regard. Therefore it is fair to expect the declaration on it before signing the final settlement of 12th bipartite”, he said.
He also explained that other matters like provision to assign additional duties and responsibilities to clerical cadre were discussed in detail. “Some amendments in the favour of workmen were made as a result of the prolonged discussions”, he told Kanal. However, the exact ex-gratia amount for pensioners is yet to be formulated according to Kripakaran.
The meeting's outcome highlights progress towards finalising the 12th BPS, with pending issues requiring prompt resolution to ensure a satisfactory settlement for all parties involved.