UFBU has also threatened a nationwide strike on December 26 against the merger of the three public sector lenders. Photo: PTI

New Delhi: Bank employee unions have rejected the offer of an 8% wage hike proposed by the Indian Banks’ Association (IBA). The unions have also threatened an all-India strike on December 26 to protest against the merger of Bank of Baroda, Dena Bank and Vijaya Bank.

United Forum of Bank Unions’ (UFBU) convenor Sanjeev K. Bandlish said the IBA has revised its offer of 6% pay hike to 8%. Stating that the revised offer is “far below” their expectations, Bandlish has urged the management of banks to revise their offer substantially to an acceptable level.

The unions are demanding that wage revision in the banks should be uniform and not linked to annual increase in operating profit and return on assets. The existing formula of differential wage increment based on the profits of each bank is not acceptable to the unions.

They have also demanded resolution of the issue of wage revision to cover all officers upto scale VII.

The UFBU, which is negotiating a wage hike deal with banks’ management, is an umbrella body of nine employee and officer unions. They have also threatened a nationwide strike on December 26 against the merger of the three public sector lenders.

The government and the banks concerned were moving ahead with their decision for amalgamation and hence it was decided to give the call for strike, All India Bank Employees Association General Secretary C H Venkatachalam said, adding that all unions under UFBU will participate in the strike.