Representatives of bank employees headed by Union minister Prakash Javadekar met Finance Minister Arun Jaitley for early settlement of wage revision negotiations on Saturday.
In the last round of wage revision settlement signed in 2010 for 2007-12, the management had agreed to 17.5 per cent raise in the total salary.
Citing high inflation, they had rejected the management's offer of a 10 per cent rise which was later improved to 11 per cent after two days nationwide strike.
"The finance minister has assured he would look into the matter and do whatever needed. The settlement process would be expedited "Javadekar said.
Javadekar also led a separate delegation of Life Insurance Corporation of India (LIC) employees to the finance minister.
"Just a priliminary talk had happened. No meaningful talks have taken place during last two years on wage revision due in 2012. We requested the FM that the talks should be immediately started and concluded as early as possible so as to give justice to the LIC employees and the officers," Javadekar said.
Excerpts - Business Standard dt.19-10-2014.