December 7: The Indian Banks' Association (IBA) today said it has made its final offer of eight per cent wage hike to officers' associations. ``This is the best offer the industry can make as banks' capacity to pay is under severe strain. There's no question of revising the offer upwards,'' IBA secretary and CEO MN Dandekar said.``Though the associations haven't reacted positively to the offer, IBA has appealed to them to reconsider their stand,'' he added.
During the sixth round of discussions with officers' associations at its headquarters, IBA said the offer had been made keeping in view the present economic scenario and paying capacity of member banks.
The revision in officers' salaries was expected to add another Rs 400 crore, it said.
Bank unions are set to reject the offer and go on a war-path demanding greater wage hike. But at the bipartite discussion held on Friday, the unions didn't formally issue any strike threat.
The unions have demanded 25 per cent wage hike. At the last five-yearwage settlement -- which expired in November 1997 -- bank employees and officers had got 10.5 per cent hike.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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