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Over 10 Lakh Bankers to go on Strike, Wants IBA to Improve Offer

In the last 10th Bipartite Wage Settlement that was made effective from November 1, 2012, IBA had agreed for a hike of 15 per cent increase over the total wage bill.

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Arun Jaitley , Finance Minister of India, wikimedia commons
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Over 10 lakh bankers in government and private banks will go on a two-day strike by the end of May if the government does not ask the Indian Banks Association (IBA) to make an improved offer, said a leader of the All India Bank Employees Association (AIBEA).

“It is a matter of shame that while thousands of crores of rupees are written off from profits towards bad loans of big corporates, the genuine demands of bank employees are being denied in this fashion,” C.H. Venkatachalam, General Secretary, AIBEA, said on Sunday.

“If the Finance Ministry does not intervene to make the IBA to make their improved offer, it has been decide to call for a 48-hour continuous strike by end of this month,” he said.

Over 10 lakh bankers in government and private banks will go on a two-day strike by the end of May if the government does not ask the Indian Banks Association (IBA) to make an improved offer, said a leader of the All India Bank Employees Association (AIBEA).
Indian Overseas Bank, wikimedia commons

Wage revision talks between the United Forum of Bank Unions (UFBU) — an umbrella body of bank unions — and IBA representing various banks held in Mumbai on Saturday ended in a failure.

Venkatachalam said the IBA offered an increase of 2 per cent over the total wage bill of the banks as on March 31, 2017.

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In the last 10th Bipartite Wage Settlement that was made effective from November 1, 2012, IBA had agreed for a hike of 15 per cent increase over the total wage bill.

The unions rejected the IBA offer of 2 per cent hike, Venkatachalam said.

While the government had asked the IBA to conclude the wage revision settlement before November 1, 2017, the latter has been delaying, Venkatachalam added.

Wage revision for bankers is due from November 1, 2017. (IANS)

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Brexit Consequences Getting Tougher for Theresa May

In a Tuesday radio interview International Trade Secretary Liam Fox said it was not acceptable for the unelected House of Lords to try to block the democratic will of the British people, who voted by a 52-48 margin in June, 2016 to leave the EU.

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May's spokesperson said both the Prime Minister and the Brexit secretary, David Davis, said the government would be robust when the EU withdrawal bill returned to the House of Commons after completing its passage in the House of Lords.
Brexit representational image, Pixabay

Confidence in Britain’s Brexit negotiations ending successfully have hit a new low, according to a new opinion poll.

A poll published on Tuesday by the Guardian newspaper and ICM revealed that only 28 per cent think the Brexit talks will conclude satisfactorily, against 47 percent who now think they will end unsatisfactorily, Xinhua reported.

In a similar poll in December 39 per cent feared an unsatisfactory outcome, but 35 per cent were confident of a satisfactory outcome.

The results came as Prime Minister Theresa May and her cabinet met at 10 Downing Street to discuss a string of votes in the House of Commons Monday. The votes saw unelected peers in the House of Lords backing amendments against May’s flagship European Union withdrawal bill.

The biggest blow was an amendment passed by 335 votes to 244, which would give MPs the power to stop Britain from leaving the EU without a deal, or make May return to the negotiating table, ruling out a no-deal scenario.

Journalists briefed after the cabinet meeting were told later that May and cabinet ministers expressed strong disappointment at the defeats in the House of Lords over the EU withdrawal bill.

Downing Street said there was concern the amendments risked tying the government’s hands behind its back in negotiations.

In a Tuesday radio interview International Trade Secretary Liam Fox said it was not acceptable for the unelected House of Lords to try to block the democratic will of the British people, who voted by a 52-48 margin in June, 2016 to leave the EU.
Theresa May , wikimedia commons

May’s spokesperson said both the Prime Minister and the Brexit secretary, David Davis, said the government would be robust when the EU withdrawal bill returned to the House of Commons after completing its passage in the House of Lords.

In a Tuesday radio interview International Trade Secretary Liam Fox said it was not acceptable for the unelected House of Lords to try to block the democratic will of the British people, who voted by a 52-48 margin in June, 2016 to leave the EU.

Fox said the House of Lords amendment opened up the possibility of delaying Britain’s exit from the EU indefinitely.

It will be up to the House of Commons to decide whether to accept the amendments to the Brexit bill from the House of Lords, or strike out the proposed changes.

With May running a minority government, shored up by the Democratic Unionist Party (DUP) of Northern Ireland, victory for the prime minister is far from guaranteed, particularly with a number of pre-EU rebels among her ranks.

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To add to May’s woes, media reports in London say several of her senior ministers have threatened to resign if she strikes a deal that will keep Britain in a customs union.

The Independent newspaper Tuesday night reported that May was preparing for a Brexit meeting with select cabinet ministers Wednesday at which they will try to come up with a joint position on post-withdrawal customs relations following rejection of Britain’s existing proposals. (IANS)

 

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