Wage Settlement update 17.01.2014

The employees who were expecting the UFBU to fight with IBA for at least 15% hike and while Business Papers expecting the UFBU to demand 30% increase in gross pay otherwise to go with its Strike plan on 20th and 21st were surprised when the  UFBU deferred its strike with meagre 9.5% hike in wage bill offered by IBA. The IBA has bettered its offer from 5% to 9.5%. But with its approval for 9.5% hike UFBU has nearly cheated 10 lakh  bank employees who were expecting better bargain.