Date:13/06/2006 URL: http://www.thehindubusinessline.com/2006/06/13/stories/2006061303840600.htm

Back PSB unions to meet on June 15

L.N. Revathy

Coimbatore , June 12

A meeting of the Indian Banks Association (IBA) and the All India Bank Officers Association (AIBOA) is slated for June 15 at Chennai. The discussion is expected to centre on compassionate appointment and introduction of second option on pension.

The AIBOA is demanding improved superannuation package as granted to SBI in all public sector banks including fresh pension option and pension updation, pending for over a decade. Stating that the issue remained unresolved and alleging a credibility gap, the AIBOA General Secretary, Mr J. Sridharan, told Business Line that the unions would go on an indefinite strike if the situation warranted. The outcome would be known after June 15, he added.

Union sources, however, remained pessimistic about reaching an accord as according to them "IBA had not opened its mind on this issue yet". They are clearly preparing themselves to fight it out.

He said over 60 per cent of the officers in the non-SBI banks were waiting for the pension option and about one-lakh of them would retire by 2010.