10th Bipartite Settlement Expected on 17th September For Public Sector Bankers. It is heard that PM Narendra Modi has directed the IBA (Indian Bankers Association) and Finance Secretary G. S. Sandhu to meet with United Forum of Bank Unions (UFBU) and settle the issue instantly.
Based on the fact IBA has called the banker’s parent association United Forum of Bank Unions (UFBU) on 17th September 2014 at Mumbai for meeting. It is believed to be D Day for 10th Bipartite Settlement.
There are lot of rumors heard about the outcome of meetings. There are few Union Leaders who are saying that IBA agreed on 18.50% hike on Cash component. Earlier IBA had offered 11% hike on Pay Slip cost.
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Meeting between IBA and Bankers Union on 17-09-2014 was positive. IBA accepted the bankers demand but ask union to show FLEXIBLE approach on their demand. It is rumored that Union will accept the IBA demand of 18.5% on pay slip cost. It is our PM Mr. Narendra Modi who has to take the final decision, as he is busy hosting the Chinese President, it is expected that next week 10th Bipartite Settlement will be finalized.
Union FLEXIBLE Approach is only towards Pension Improvement and Post retirement benefit. Think…