INDUSTRIAL RELATIONS PART B

The primary objective is to maintain harmonious relations between management and employees to ensure smooth functioning of banking operations and prevent disruptions through conflicts or strikes.

Harmonious employer-employee relationship ensuring uninterrupted bank operations

The Trade Unions Act, 1926 governs the registration, rights, and responsibilities of trade unions in India, including those operating in the banking sector.

IBA negotiates bipartite wage settlements on behalf of member banks

Collective bargaining is a process of negotiation between employers and trade unions representing workers to determine wages, working conditions, and other terms of employment through mutual agreement.

Mandatory notice period of 14 days before a strike can legally commence

A bipartite settlement is a wage and service condition agreement reached directly between the Indian Banks' Association (IBA) and employee unions/associations without intervention of a third party.

AIBEA, AIBOA, NCBE, BEFI, and INBEF are major recognized unions