The State Banks Staff Union (Kerala Circle) has called for expediting wage revision in the banking sector which is due with effect from November 1, 2012.

SBSU State general secretary A. Jayakumar said in a press release here that despite four rounds of bilateral discussions, the Indian Banks Association (IBA) representing bank managements had not come out with any concrete proposal in this regard. The bank managements had been countering the United Forum of Bank Unions’ (UFBU) demand for wage revision by saying that the productivity in the banking sector is low.

The Reserve Bank of India (RBI) data, however, indicates that Indian banks, especially the public sector banks, had shown significant progress on the productivity and efficiency fronts over the last two decades, he said.