" Following the informal talks with IBA Chairman and his team at Union Bank Head Office at Mumbai on 11.03.2010, matters were further discussed with IBA officials at their office on 17.03.2010.
Yesterday IBA has furnished their updated chart with scale structure of 15000 to 54400 and some minor changes in HRA, CCA,& Hospitalization rates and with one stagnation increment.
However issues relating to Pension in respect of date, incremental cost, pension balancing, PF balancing etc., besides uniform loading on scale structure still awaits UFBU decision.
Further response will be made after study of draft agreement copies on pension, wage etc. to be furnished by IBA.
Units are requested to inform the members to await for development even while we are striving our level best to overcome tendencies to overturn terms of MOU to our detriment. Needless to say we want immediate settlement on acceptable terms and not to be imposed on reasons of time favourable climate etc. alone."
Source - AIBOA Website