Indian Bank’s Association continues to be stubborn,as another round of talks on Friday between the Bank Unions and the IBA ,has again failed to reach an agreement. IBA took the stand  in Friday’s talks that they can agree only to 11% wage hike against 25% of the union’s demand. Last time, the agreement was for 17.5%, which has expired on 31-10-2012 and the bipartite wage settlement negotiations are being dragged on for more than one  and half years. The main reason being put forward by the Bank Management is that their profit is under pressure due to provisions they have to make for the bad loans.

It is the corporates and the big businesses that indulge in nonpayment of loans which is written off later by the banks on political interventions. Then why should the bank employees who sweat to give all development of the banks’ business be made to suffer.

The United Forum of Bank Unions (the umbrella body of 10 unions in the banking sector) is seeking the intervention of Union Finance Minister,Shri.Arun Jaiteley to have a reasonable settlement.