Finance Ministry approved 10th Bipartite Settlement Wage Revision for Bank employees

Finance Ministry approved 10th Bipartite Settlement Wage Revision for Bank employees for period 1.11.2012 to 31.10.2017

Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation – 10th Bipartite Settlement for period 1.11.2012 to 31.10.2017

Government of India

Ministry of Finance

Department of Financial Services

Jeevan Deep. IIIrd Floor,

Parliament Street, New Delhi,

Dated the June 19, 2015

To

Sh. M.V.Tanksale,

Chief Executive,

Indian Banks’ Association,

Mumbai.

Subject: Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation – 10th Bipartite Settlement for period 1.11.2012 to 31.10.2017

Sir. I am directed to refer to your letter No. HR&IR/KSC/GOVT/665 dated 25th May, 2015 on the above subject and to say that Government has ‘No objection‘ to IBA authorizing the Banks to pay revised salary and arrears of pay and allowances to serving officers and revised pension and arrears to existing pension optees retired w.e.f. on or after 1.11.2012 as per the provisions at the Joint Note pending amendments to the Officer’s Service Regulations/Pension Regulations subject to the provisions made by the respective banks in the particular year.

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10th Wage Agreement – IBA Circular

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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Highlights of Wage Revision For Bank Officers - Pay & Arrears Calculator - AIBOA

Highlights of Wage Revision For Bank Officers - Pay & Arrears Calculator - AIBOA

Joint Note to be signed between Officers Organisations and IBA

As soon as the the joint note is signed we shall up load the full text of the same.

In the meanwhile we furnish here under the HIGHLIGHTS of pay AND other details on which areas of agreement reached for information of members...

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UFBU MEET AND SUB COMMITTEE MEETINGS WITH IBA

UFBU MEET AND SUB COMMITTEE MEETINGS WITH IBA

Discussed Points: Hospitalisation Scheme, 100% D.A.Neutralisation for retirees, 2% of loading on basic pay and DA and Converting of DA series.

“IBA should give the new pay structure immediately and pay scales so drawn should be discussed within reasonable time”

Circular No.8/VI/2015

April 17, 2015

To:

ALL UNITS / STATE COMMITTEES

Dear Comrades,

UFBU MEET AND

SUB COMMITTEE MEETINGS WITH IBA,

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X Bipartite Bank Employees Wage Revision - Settlement points between IBA and Bank Unions

X Bipartite Bank Employees Wage Revision - Settlement points between IBA and Bank Unions

Indian Banks’Association

Minutes of the discussions held on 23rd February 2015 between IBA representing

Management of banks which are parties to the Bipartite settlement and

Workmen Unions and Officers Associations on wage revision

Discussions were held between the Indian Banks’Association representing Managements of banks and the authorized representatives of Workmen Unions and Officers Associations on wage revision for officers in banks. After holding several rounds of discussions, the parties have mutually agreed as under:

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No improvement in Conciliation meeting held on 5.11.2014 – Bank employees Strike on 12.11.2014

No improvement in IBAs offer – UFBU decides to go ahead with the strike on 12.11.2014

Conciliation meeting held by CLC today(5.11.2014) – No improvement in IBAs offer – CLC calls for further meeting on 10th instant – UFBU decides to go ahead with the strike

Further to the Strike notice served on the IBA by the UFBU, conciliation meeting was held today in New Delhi by Mr. P.P. Mitra Chief Labour Commissioner, Ministry of Labour, Government of India. IBA was represented by Mr. M.V. Tanksale, Chief Executive, Mr. Unnikrishnan, Dy. Chief Executive and other officials. UFBU was represented by all the constituent unions.

During the conciliation proceedings, the IBA contended that due to the reducing profitability of the Banks, they are unable to accept the demands of the UFBU and stated that for the sake of an amicable settlement, they would be willing to consider improving their present offer provided UFBU agrees to substantially reduce the demands. IBA also suggested that UFBU should defer the strike so that the negotiations may be further continued.

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