Traditionally there is negotiated wage revision between the apex unions and the apex organisation of Bank managements once in every five years. But practically due to various reasons these get deferred and prolonged. Hence things do not happen exactly on dot on end of five years.
The current settlement was due in Nov 2012. Only some preliminary discussions are over. In a settlement both sides keep certain demands. Then they arrive at some common agreements and settlement. Some of the issues remain and will be taken up in the next settlement. So there are some residual issues from the previous settlement also.
Generaly wage settlements consider merging of the a certain portion of the DA with Basic PAy. This is because it is clear that prices will not fall below that level index. By adding the DA portion to Basic Pay, al the other benefits linkedto Basic Pay may have to be reworked. This may need much time for calculation and recalculation and to arrive at an acceptable formula. However in the net, employes will like to have an overall increase in their monthly pay and terminal benefits.
So first there will be a rough agreement on the final net increase as to 10 , 15% or more. The bargaining and negotiation will be more in this. Once that is agreed, then it is only a re arrangement of fitting the increase.
After that some other issues regarding other service conditions are taken up.
All the while the different cadres will like to have their internal and external parity in these mates.
However as the banking industry is facing crunch of experienced personnel now after retirement and VRS, there is an expectation that this time the settlement will be more positive and favoutable than the earlier ones. Best Wishes to the bank employes.
Let us keep faith on ourselves and work sincerely, not leave everything to fate.