IDBI Bank Unions threaten Strike over wage Revision

Around 17,000 employees of the troubled state-run IDBI Bank, that has been reporting heavy losses on rising bad loans for several quarters now, have threatened to go on a nationwide strike if the management fails to conclude a new wage pact before the month-end, reported PTI. The salary revision of IDBI Bank employees, who do not come under the Indian Banks Association (IBA's) industry-wide wage settlement, had been pending since October 2012.

Since then the unions and IDBI Bank management could not conclude a new wage pact as the latter was awaiting IBA wage agreement. "We are shortly going to write to Managing Director Kishor Kharat seeking his intervention. If the bank management does not call them (unions) for negotiation before October 31, we may go for agitation which includes one-day strike in November," IDBI Bank Officers Union General Secretary Vithal Koteswara Rao told PTI. Of the 17,000 employees, 15,000 are officers.

The last wage revision for IDBI Bank employees was applicable from June 2009 to October 2012. Last May, the IBA, the apex body representing bank managements, signed a wage settlement with unions and officers associations of 43 lenders, including public sector ones, old private banks and a few foreign banks.

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