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CIRCULAR No. UFBU/2026/13

Date : 16-04-2026

TO MEMBERS OF ALL CONSTITUENT UNIONS:

Dear Comrades,

IBA convened a bipartite meeting with UFBU yesterday i.e. 15-4-2026. IBA team was led by Shri Rajneesh Karnatak, Chairman of the Negotiating Committee (MD-CEO, Bank of India) along with Shri Ashok Chandra, MD­CEO, PNB, Shri Rakesh Sharma, MD-CEO, IDBI Bank, Shri G S Rana, DMD, SBI, Shri. Gopal Murli Bhagat, Dy. Chief Executive, IBA and Shri Arvind, Mishra, Sr. Advisor-HR&IR, IBA. All the Unions were present from our side.

All of us are aware that in the 12th Bipartite Settlement/9th Joint Note, without prejudice to our demand for updation of pension, it was agreed to extend some ex-gratia amount as lumpsum and accordingly Ex-gratia amount is being paid every month to all the pre-November, 2022 pensioners. This fixed ex-gratia amount is payable for 5 years from November, 2022 to October, 2027. There is also a provision in the Settlement/Joint Note for annual review of the ex-gratia amount. Hence this meeting was held to discuss about the ex-gratia for the current financial year 2026-27.

While presenting the agenda, IBA informed that in the present circumstances, the same ex-gratia amount can be continued. Reacting to this proposal, from our side, we pointed that firstly all the remaining private banks who have not yet implemented the ex-gratia payment should be advised to implement the ex-gratia payment. We also demanded that looking to the better performance and financial results of the Banks, the ex­gratia amount can be upwardly revised. IBA informed that it cannot be decided without consulting the views of the Government and hence it is not possible to consider any change in the ex-gratia amount and the existing ex­gratia amount would be continued.

We also pointed out that the main issue of updation of pension is also pending under the plea of litigation and some solution has to be found for the same.

We took the opportunity to point out that our demand for introduction of 5 days banking per week and also to sort out the PLI issue through bilateral discussion, and other residual issues need to be taken up for discussion. IBA informed that another meeting will be arranged at the earliest when all these issues could be taken up for discussion.

Yours comradely,