Mumbai: Apex banking lobby Indian Banks' Association (IBA) and bank unions will meet on Monday to negotiate on salary hikes for over three dozen banks.

Around 37 banks, including public, private and foreign banks, have mandated the IBA to decide on the wage hikes for their employees. Bank unions under the banner of the United Forum of Bank Unions (UFBU) will represent the employees.

The current wage revision is due from November 2017, after the 10th bipartite settlement ended in October 2017.

In the last round of talks held on May 5, 2018, the IBA had offered a meagre 2 per cent wage hike, which had irked the unions and they went on a two-day strike starting May 30.

"We want banks to improve the previous offer of 2 per cent. Our demand is of 25 per cent, but we are open for negotiations," the UFBU convener for Maharashtra, Devidas Tuljapurkar, said.

In the 10th bipartite wage settlement, which was signed in May 2015, for the period between November 2012 and October 2017, the IBA had offered a 15 per cent hike.

"So far, the wage revisions have always been in double-digits, which we are okay with, but 2 per cent is not acceptable to us," Tuljapurkar said.

The management of banks had justified the nominal hike citing huge losses incurred in the past few quarters.

The unions have said the fall in profit are on account of higher provisioning towards non-performing assets and the employees are not responsible for that they have been tirelessly working towards implementing various government schemes such as Jan Dhan, demonetisation, Mudra and Atal Pension Yojana.

In the May 2018 round of wage negotiations, the IBA had also maintained that the talks on officers' demand would be restricted up to scale III officers only.

The settlement under the 10th bipartite agreement was concluded after 18 rounds.

Walmart deal stir

Traders' body CAIT has announced its plans to launch a nationwide stir against the $16 billion Walmart-Flipkart deal and said demonstrations will be held at the offices of the Enforcement Directorate (ED) and the RBI.

"As the commerce minister had informed that the complaint against the deal (between Walmart and Flipkart) and e-commerce companies have been sent to the ED and the RBI, the CAIT has decided to organise countrywide demonstrations at the offices of ED and RBI demanding expeditious enquiry in to the complaints," the Confederation of All India Traders (CAIT) said in a statement.

Earlier this week, addressing members of the CAIT here, commerce minister Suresh Prabhu said the ministry has asked the ED to look into the complaints related to alleged violation of foreign direct investment norms by some e-commerce players.