Latest news on 9th bipartite settlement. Wage revision of workmen and officers. In the talks held between IBA and Unions understandings were reached on the various service conditions and the chart on distribution of the total increase of Rs. Next meeting will be on 7 th April, Draft settlement will be taken up for finalisation.
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Latest news on 9th bipartite settlement. Wage revision of workmen and officers. In the talks held between IBA and Unions understandings were reached on the various service conditions and the chart on distribution of the total increase of Rs. Next meeting will be on 7 th April, Draft settlement will be taken up for finalisation. It was decided that after finalising the draft settlement, the signing of the same should be completed by 15 th April, Scales of Pay:.
Clerical Staff: — x 3 — — x3 — — x 4 — — x 7 — — x 1 — — x 1 — Stagnation Increment:. Substaff: 7 stagnation increments x 7 once in 2 years. Extended Pay Scales: With Stagnation increment. Clerical: — — Substaff: — — DA: 0.
Transport Allowance: For Clerks and Substaff. Upto 15 th Stage: Rs. Special Pay:. For November, to April, Existing Special Pay will be revised and arrears paid for both clerks and subordinate staff. From May, - For Clerks. Present No Special Pay holders : Rs. Present Special Pay holders : Rs.
Head Cashier II : Rs. Special Assistant : Rs. Out of this, Rs. From May, - For subordinate staff. Will be revised based on new basic pay. Hill and Fuel Allowance:. Medical Aid: Rs. Hospitalisation Scheme: Being improved with revised schedule, etc. Part Time Employees: Lump sum. November, to April, Upto 3 hours per week : Rs. Halting Allowance: Being increased. Washing Allowance: Rs. Cycle Allowance: Rs.
Split Duty Allowance: Rs. Project Area Compensatory Allowance:. Clerks : Rs. Substaff : Rs. Special Area Allowance: Being revised. Reimbursement in Road Travel:. Actual road mileage cost or Rs.
Will be payable on revised Basic Pay from 1. Definition of dependence under family: Upto monthly income of Rs. Compensation for losses due to breakage or damage to goods on transfer:. Clerks: Rs. Substaff: Rs. Special Leave for Women:. Within the maternity leave entitlement, women employees can avail 45 days special leave for undergoing hysterectomy operation. Effective Date: 1 st November, Improvement in LFC : Entitlement :. Wage settlement- Workmen - Developments - Tuesday, April 27, 9th bipartite signed on 27th April Finally signed!!!
The wage revision and pension option have been signed on 27th April with the IBA, by the Unions. The Pension option Settlement has also been signed Under the banner of UFBU, all the 9 unions have signed the Agreements covering both employees and officers.
The Settlement would cost the Banks an additional increase in wages by Rs. The Settlement will be effective from November to October Under the Settlement all the remaining 2,60, employees and officers who are now covered by CPF would be given a chance to join the Pension Scheme. More than 50, retirees will also get the option to join the pension scheme.
The Settlement is preceded by 30 months of negotiations between the IBA and the unions. Tuesday, April 6, Officers new pay. Saturday, April 3, Payscale - Officers. Officers payscales - updation. Major A class cities - 8. Wage settlement - Officers - Developments - Basic Pay Rs. Medical aid Rs. Next discussions on 9th and 10 th April Settlement will be signed on Scales of Pay: Clerical Staff: — x 3 — — x3 — — x 4 — — x 7 — — x 1 — — x 1 — Special Pay: For November, to April, Existing Special Pay will be revised and arrears paid for both clerks and subordinate staff.
Halting Allowance: Being increased Reimbursement in Road Travel: Actual road mileage cost or Rs. Gratuity: Will be payable on revised Basic Pay from 1.
Special Leave for Women: Within the maternity leave entitlement, women employees can avail 45 days special leave for undergoing hysterectomy operation.
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Wage Revision: 9th Bipartite Settlement
C Simultaneously, IBA also raised with the Unions, issues on behalf of the managements of banks concerned, to be discussed and settled with a view to improving efficiency of operations in banks. D The parties initially agreed after negotiations that the total quantum of wage increase arising out of a Settlement to be signed in this regard shall be Rs. It is agreed that for the purpose of this settlement, the additional cost of pension be shared equally between the parties at the rate as agreed to pension costed accordingly. F Management proposed that a scheme for introduction of performance linked variable pay in addition to fixed pay be considered as part of this wage revision exercise to increase efficiency in operations.
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