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"The United Forum of Bank Unions (UFBU) is  raising awareness about the negative impacts of new reforms which go against the interests of people and development in India; the union organizes strikes, rallies and mass movements of resistance" said M.V.Murali, the Convenor of UFBU and  General Secretary of All India State Bank of India Staff Federation [AISBISF].

The United Forum of Bank Unions is the main body of the banking industry trade unions in India representing over 1 million members belonging to 9 trade unions with members from both the public and private sector banks in India.  AISBISF represent over 160,000 members and is one of the largest UNI affiliates from India.       

Murali stressed that through collective action including a public rally in Hyderabad, the unions managed to break the speed governmental reforms which don't take into account developmental priorities in the country.

The role of public sector banks is very important to extend banking facilities across the country through opening of more branches in rural areas to uplift the quality of life of poor and marginalized people in India.

UFBU is fighting for decent wage increase for their members and negotiating the 10th bipartite wage settlement with Indian Bank’s Association (IBA).  Wage revision  hasn't taken place since 1st November 2012. 

 “Despite more than 2 years in the ongoing 10th Bipartite negotiations, no significant improvement has been made in the negotiations except regarding the date of wage revision and basic pay allowances”. 

IBA has proposed a meagre increase of 12.5% on Pay Slip Components which is far less than the increase offered on total wage bill expenses in the previous bipartite wage settlement. Operational profits in the last few years have substantially gone up reflecting the contribution of employees in PSB’s.  Therefore all the bank employees are eligible for their due share in the growth and profits of their respective banks as they have contributed to higher profits year after year.

UNI Finance supports and promotes plurality in the global financial systems, PSB’s are playing a catalyst role in stimulating the real economy in developing countries such as India; said Jayasri Priyalal Regional Director responsible for Finance sector in UNI Apro  Singapore, assuring solidarity support to UNI Finance treasured affiliates'.

Milind Nadkarni, General Secretary of  All India Bank of Baroda Employees Federation, Subhash  Sawant General Secretary of Indian National Bank Employees Federation spoke at the rally calling the membership to rally around UFBU in Hyderabad.