Bank Employees Wage Revision: 10% salary hike proposed; Staff still not happy - Here's why

Bank Employees Wage Revision 2019 Latest News: Amid pressure from employees' unions, Indian Banks' Association (IBA) has reportedly agreed to offer a 10% wage hike from the previous 8%. However, the offer has failed to please the employees' associations, says a report by Economic Times. The associations have forced many bank strikes in recent times. The wage revision matter will be discussed again in the meeting of IBA and United Forum of Bank Unions after February 15.

The employees' unions have rejected the 10% hike offer, saying the IBA has still not met with their expectations. In a meeting on Saturday, the IBA is said to have increased the offer on the fixed pay component and reduce the variable offer to 6.2% from 8.2d%. 

The employees' union has also objected to the IBA decision to leave officials in Scale IV and above out of the wage settlement ambit. 

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Last month, the All India Bank Employees Association (AIBEA) and Bank Employees Federation of India had called a two-day nationwide strike on January 8-9, 2019.  On December 26, 2018, as many as nine bank unions had observed a one-day strike to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda.