In a surprising move, Department of Financial Services (DFS) , GOI has sent communication to Chief Executives of all public sector banks asking them to initiate process of negotiation for next wage settlement and conclude it prior to the effective date of 1.11.2017. Probably, it is the first time; the government has taken initiative to commence process of negotiation so early. AIBRF has welcomed the move hoping the bank managements and unions will start the process in all seriousness. However there is no mention regarding retirees' issues in the letter.
Click here to view the letter by DFS
Source AIBRF website