The increase in wages and other allowances for bank employees is decided every five years after a years-long discussion between the Union Forum of Bank Unions(UFBU) and the Indian Bank’s Association (IBA). UFBU represents various bank unions while IBA represents managements of participating banks. The salary of officers and clerks of 29 banks (12 public sector banks, 10 private & 7 foreign Banks) is governed by the bipartite settlement between UFBU and IBA.
The current bipartite wage settlement (11th BPS) was signed on 11.11.2020 and is effective from 01.11.2017 to 31.10.2022. Under the 11th Bipartite Wage Settlement, the bank employees got a 15% increase in pay slip components. Further, for the first time, a performance-linked Incentive (PLI) was introduced as a pay slip component.
The 12th Bipartite Wage settlement is due from 01.11.2022. The discussion for the implementation of the 12th BPS is yet to start. All India Bank Employee’s Association (AIBEA) in its circular dated 28.04.2022 has informed that a sub-committee has been constituted to call for suggestions from members & unions and to submit the recommendations to empowered committee for finalization of Charter of Demands for 12 Bipartite Settlement. The latest news updates of the 12th bipartite settlements shall be shared here.
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Pending issues of 11th bipartite wage settlement
11th bipartite settlement was signed on
11.11.2020, however, some of the demands of unions were kept open for
discussion. The issues detailed below are still under discussion and the last
meeting between IBA and UFBU constituents was held on 13.04.2022.
1. Implementation of 5-day banking.
2. Stagnation increment fitment as per 11th Bipartite Settlement
3. Pension updation of old retirees.
4. One option of pension for resignees.
5. To change the base year for dearness allowance from 1960 to 2016
6. To base staff welfare fund on operational profit as against 3% of net profit at present.
7. To reduce mediclaim premiums for retirees.
8. To make branch and cash timings uniform across all bank branches.
9. Fitment for Ex-serviceman
10. To increase allowances for bank staff working in disturbed area like Jammu & Kashmir.
The link to the Joint note dated 11.11.2020 for the 11th bipartite
settlement is given under “Sources”
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Sources
https://aiboc.org/wp-content/uploads/2020/11/68_2020_aiboc_r_Wage-Negotiation-for-Officers.pdf
http://www.bankubeutn.in/documents/11thBPS.pdf
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