IBA to discuss bank unions' demands within agreed time-frame

MUMBAI: Bankers body Indian Banks Association and the United Forum of Bank Unions on Monday signed an MoU, according to which the issues raised by the unions would be discussed in a time-bound manner.
    
"We have signed an MoU with UFBU to discuss issues (raised by the unions) in a time-bound manner. This also includes their demand for one more option to the pension scheme," a senior Indian Banks Association (IBA) official said here.
    
This was announced after nearly three days of marathon meetings between the two parties.
    
The IBA was represented by its Chairman M B N Rao and Chief Executive H N Sinor, besides others officials.
    
The bank unions, which had earlier called for a two-day nationwide strike from Monday, called off their agitation following reconciliatory talks with the IBA.