Controversy Uncovers Over Bipartite Talks: Leaked Documents Ignite Confusion Among Bankers, Official Sources Maintain Suspense

In a recent turn of events, leaked documents from the 12th Bipartite Settlement (BPS) talks between the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU) have sparked widespread confusion, leaving the banking community in a state of uncertainty.

Cost Sheet Signed, But Official Secrecy Prevails
The bipartite talks between UFBU and IBA have been going on for a year, resulting in the signing of the Memorandum of Understanding(MoU) on 7 December, 2023. The next meeting was held on 12th January 2024, and a cost sheet was officially signed between IBA and UFBU after a long talk that concluded late at night. But official sources are still maintaining a veil of secrecy over the specifics of the cost sheet. This has fueled speculations and debates on whether the leaked information circulating on social media platforms holds any truth.
(UFBU - IBA representatives after signing the cost sheet late night on 12 January, 2024)

What Does ‘Leaked’ News Indicate?
Social media discussions reveal key points, including plans for clerical staff to be assigned additional responsibilities in recovery, marketing (including digital product marketing), and educating customers on digital products and lending. Notably, there is no decision or discussion regarding the merger of the special allowance with the basic pay, which is a long pending demand raised by the bankers right from the beginning of 12th BPS talks.

(An X post by the General Secretary of All India Punjab National Bank Officers Federation)

There is no official confirmation on the 5-days banking from the Department of Financial Services(DFS) either, even though both IBA had agreed to pursue the demand by UFBU long back. As part of the 12th BPS MoU, a reaffirmation was given by the IBA in this regard, but nothing materialised yet as the talks are advancing towards final settlement. Though the UFBU leaders have revealed that the specifics of the ex-gratia clause for pensioners mentioned in the MoU have been discussed and decided in the meeting held on 12 January, the details are not disclosed. The ex-gratia clause had already stirred a section of the bank retirees who are fighting for pension updation.

(The portion of the leaked document that implies additional duties upon clerical staff.)

The leaked documents are going rounds on Social Media in the form of screenshots and messages, further igniting worries and outrage among ordinary bankers. Meanwhile, the All India Bank Employees' Association (AIBEA) has issued directives urging its members not to share the leaked details, emphasising the sensitivity of the ongoing negotiations.

(The message posted by the General Secretary of the AIBEA on platform X)

Discussion Over Concerns Causing Delay
Insider information accessed by Kanal suggests that the leaked details may indeed be accurate unless further changes are made in subsequent discussions. The bipartite talk held on 12 January witnessed limited discussions, and decisions appear to be made unilaterally within an exclusive working group.

According to trusted sources, the concerns raised by some unions within the UFBU regarding the unilateral approach along with the outrage expressed by bankers on social media, has given birth to a call for a reconsideration of specific terms in the agreement. This has consequently caused a delay in the finalisation and official revelation of the cost sheet.

(X post by an anonymous banker.) 

Unveiling the Delay and Unaddressed Concerns
The official secrecy surrounding the negotiations and the perceived rush in settling the agreement without addressing many concerns of common bankers have raised questions among the banking community. Some unions and bankers insist on a thorough reconsideration of the specifics before finalising the 12th BPS. The signing of the MoU of 12th BPS last month and the ongoing hurry towards the final settlement have left many wondering, as the previous bipartite settlements concluded after much more detailed negotiations among the parties.

As the 12th BPS negotiations continue, the banking community remains on edge, grappling with uncertainties arising from leaked documents and social media discussions. The concerns raised by various stakeholders highlight the need for a transparent and comprehensive resolution that addresses the legitimate worries of the banking community.