UFBU Demands Wage Revision For Employees And Officers Of Regional Rural Banks

United Forum of Bank Unions (UFBU), an umbrella body of nine prominent bank unions of India, has written a letter to Debashish Panda, Secretary, Department of Financial Services, Ministry of Finance, demanding wage revision of employees and officers of Regional Rural Banks.  Copy of the letter has also been sent to the Chairman, IBA, Chairman NABARD, Chairman of all RRBs and MDs of all Sponsor Banks.

Pasted below is the text of the UFBU Letter for the benefit of the viewers of www.indianpsu.com 

Shri Debasish Panda, Secretary,
Dept. of Financial Services, Ministry of Finance, Government of India,
New Delhi Dear Sir,


With the conclusion of wage revision settlement for the employees and officers of commercial banks vide Settlement/Joint Note dated 11th November, 2020, the need arose for extending the same for the employees and officers of Regional Rural Banks.

In terms of the Award of the National Industrial Tribunal and the judgement of the Supreme Court dated 31-01-2001 and also having regard to Section 17 of the Regional Rural Banks Act, 1976, the salary and service conditions of the employees and officers of Regional Rural Banks are to be revised.

We are thankful to the Government for releasing the DFS communication No. F-8/1/2021 dated 1st  April, 2021 addressed to all the Regional Rural Banks, IBA, NABARD and all the Sponsor Banks extending wage revision in Regional Rural Banks based on the 11th BP Settlement/Officers Joint Note dated 11-11-2020 thus paving the way for wage revision for the employees and officers of the Regional Rural Banks.

However, we observe from the communication the following:

a) Arrears from 1-11-2017 would be payable in two installments, one in Jan-March, 2022 and another six months later to that.
b) The new allowances and benefits provided in the Settlement/Joint Note would be considered later after further restructuring of the RRBs.
c) Part II of the Allowances would be considered by the Sponsor Banks.

Sir, you will appreciate that all the RRBs are doing well and earning Operating Profits. Further the National Industrial Tribunal and the Supreme Court ordered for parity in wages and services in the RRBs only on the ground the job and role of the employees in commercial banks and Regional Rural Banks are same and similar. Hence not extending all the allowances and benefits to the RRBs would be injustice and discrimination besides being highly demotivating.

Similarly, all the Banks have also provided for the arrears payable in their respective Balance Sheets and delaying the payment of arrears also would frustrate the workforce in the RRBs.

In view of the above, we urge upon the Government to reconsider the issue and advice the Banks to implement the wage revision for employees and officers in the RRBs without these restrictions and pay the arrears immediately.


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