10th Wage Agreement – IBA Circular
Indian Banks’ Association
10th Wage Agreement
Indian Banks Association inked wage settlement with Employee Unions and Officers’ Associations today, 25th May, 2015. The settlement gives 15% increase in salary and Allowances to about 10 lakh bank employees.
Employees and officers from 43 banks including public sector banks, old private sector banks and some of the foreign banks benefit from the wage revision. The current wage revision is effective from 1st November 2012 and will be valid for 5 years. In all 11 All India Employees Unions and Officers’ Associations participated in the wage revision exercise.
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