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Mumbai, Nov. 8 The Indian Banks Association, the apex body of 150 banks in India, will resume next month the ninth bipartite negotiations with the United Forum of Bank Unions, the umbrella organisation of nine bank trade unions, on wage settlement for around seven lakh bank employees.

The unions have sought around 35 per cent hike in wages in view of the fact that banks have posted healthy profits over the last few years.

In the eighth bipartite wage settlement talks, the union pressed for a similar hike but settled for a 13.25 per cent hike. The eighth bipartite wage settlement agreement, which was valid for five years beginning November 2002, lapsed in October 2007.

IBA’s negotiating committee, headed by Mr M.V. Nair, CMD, Union Bank of India, will meet the unions again in mid-December 2008 to consider among others wage hike and pension option, said a senior IBA official.

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