NBL management, employees reach into an agreement

The management and employees of the Nepal Bank Limited (NBL)—one of the largest commercial banks in the country—reached into an agreement Saturday after nearly 12-hour-long marathon negotiations.

According to a joint communiqué issued by the NBL management and two employees union, the bank management agreed to withdraw suspension order against ten union leaders of the Bank. Similarly, the management also agreed to suspend newly introduced regulations including mandatory retirement of employees if they were serving at the same post for 15 years without promotion and mandatory retirement after 30-year-long service.

Similarly, the bank management has agreed to finalise the issue of salary and benefits of the employees by Oct. 1, this year. The NBL employees had got their salaries raised by around 40 percent only last year.

Both the sides have also agreed to hold second round of talks beginning next week regarding the 55-point demands put forward by the employee unions.

The Bank officials said the agitating staff will return to their work from Sunday.

The central bank had intervened and offered to facilitate talks between the two sides after commercial transactions at the largest public sector bank were disrupted for nearly a week due to the on-going strike.