Wage Settlement update of 13.01.2014

The Central Labour Commissioner had called the parties IBA (Indian Banks Association) and UFBU (United Forum of Bank Unions) for discussing the status of the wage talks of bank employees. The CLC has advised IBA that fortnightly meeting to be held for early settlement of wage demand. IBA has offered to meet on 17th January 2014. The fate of strike call given by UFBU on 21st and 22nd January 2014 depends of the outcome of that meeting.

Interim Dividend windfall from the Banks

The Public Sector Banks are ready to please the shareholders (the government of india is the majority shareholder) by declaring Interim Dividends. Syndicate bank, Oriental Bank have already declared and many will follow soon..................