The subcommittee for discussion of medical reimbursement met at 11. Memorandum of 10th bipartite settlement between the bank unions and indian banks association on 25th may 2015 memorandum of settlement dated 25 th may 2015 between the managements of 43 banks as represented by the indian banks association and their workmen as. This is the very useful information for officers who were in the service of the bank. In 9th bipartite settlement memorandum of settlements was signed 27. Bank employees federation of india, national organisation of bank workers and indian. Calculate 10th bipartite revised salary the settlement of 10th bipartite wage revision is almost finalized. Based on our past experience we try to give a brief outline about how the negotiations will shape up between ufbu united forum of bank unions and iba indian banks association in the past. Eleventh bipartite settlement bank wage revision history. Here are the main highlights of pay and other details finalized in 10th bipartite settlement. Joint note salary revision for officers conclusion of.
Certain banking companies foboisufederation of bank of. The 10 bipartite wage settlement for bank employees was signed by united forum of bank unions ufbu and indian banks association iba in. Wage revision of bank employees is due from november 2012 and bank employees unions and officers association submitted their charter of demand for 10th bipartite to iba indian banks association on 30. The term bipartite settlement means a pact between two and who are the two parties here, one is the iba indian banks association and the other is the ufbu united forum of bank unions. The current 10th bipartite settlement on wages and service conditions of bank employees ended on 31st october 2017. Latest news on 10th bipartite settlement 25 may 2015. About 6 lacs workmen employees covered by this settlement. The last phase of meeting with finance ministry and iba is being going on, we are hoping that within a week the outcome will be published. Gu all india bank of baroda employees federation, mumbai in substitution of clause 9 of the bipartite settlement dated 27th april 2010 with effect from 1st november 2012, the house rent allowance. Dear friends, as we know that medical insurance scheme for bank employees has been approved in 10th bipartite settlement, aibea released a circular regarding this issue to reach all our bank employees about this scheme.
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. Gratuity in the banks is payable to employees and officers both under the gratuity act, 1972 as well as under the provisions of our bipartite settlement for employees and as per osr for officers whichever is higher. Based on our past experience we try to give a brief outline about how the negotiations will shape up between ufbu united forum of bank unions and iba. Jan 15, 2018 it is difficult to predict any exact sum regarding the increase in salary of bank employees after 11th bipartite settlement. Employees, bank employees federation of india, national organisation of bank workers and indian national bank employees federation. Officers wage revision new pay scales 10th bpsbank. For the employees of public sector banks, the wage revisions are done through the bipartite settlement between the indian banks association and the united forum of bank unions. All india bank employees association reproduced the clarification in 10th bipartite settlement for clerks and substaff.
What are the latest update on bipartite settlement and. Compare scales of pay of bank officers in wage settlements. Apr 27, 2010 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. May 21, 2015 officers wage revision new pay scales 10th bpsbank bipartite settlement basic pay 23700 to 85000. F it is a settlement under the industrial disputes act and hence legally binding. Tenth bipartite updates todays meeting update 16042015 today iba ufbu meeting took place wherein all details of proposed new medical reimbursement scheme was discussed. Government and iba has agreed on the 10th bipartite wage. We have already informed all our units and members about the happy news of signing the 9 th bipartite settlement on 27. Clause 32 of the x bipartite settlement provides the benefit of paternity leave w. 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. Since the eight bipartite settlement, the wage hike talks have been held jointly for workmen and officers. Memorandum of settlement dated 25th may 2015 between the managements of 43 banks as represented by the indian banks association and their workmen as represented by the all india bank employees association, national confederation of bank employees, bank employees feder. The settlement covers 46 banks 26 public sector banks, 12 private sector banks and 8 foreign banks and would benefit 4,77,000 workmen employees and 2,75,000 officers.
Proposed hike of 15% pay slip components which will be distributed among various components of monthly pay such as basic pay, special pay, fpp, pqp, dearness allowance, hra, cca, and other allowance. Eleventh bipartite settlement bank wage revision history and customs followed so far young bank employees are eager to know the process of wage revision bipartite settlement eleventh. We give below the final position as are contained in the settlement for the benefit of our unions are members. May 25, 2015 the settlement gives 15% increase in salary and allowances to about 10 lakh bank employees.
Earlier we had been informing about the understandings reached on various items. The bipartite settlement revises every 5th year and the tenure of 10th bipartite settlement has ended on 31st october 2017, thus inclining the imposition of the 11th. Government has started its efforts to convince angry voters of service class by targeting bankers first. X bipartite bank employees wage revision settlement points between iba and bank unions on february 23, 2015 in 10th bipartite discussions, bank employees news, bipartite settlement, national union of bank employees. Government and iba has agreed on the 10th bipartite wage settlement. Section v leave rules foboisufederation of bank of india. The latest meeting of the core group was held on 6th september 2017. Iba is a representative body of management of all psu banks and a few of the private banks, but the actual reign lies with the govt.
Employees who have retired from the service of the bank on or after the. May 15, 2017 11th bipartite settlement is due from 1st november 2017. Gratuity under the 10th bp settlement signed news uco. May 25, 2015 latest news on 10th bipartite settlement 25 may 2015 aibea. Views of himadri on 10th bipartite settlement for bank employees. Section and section j 81 of the disputes act read with rule 53 of the disputes rules. Sep 14, 2014 10th bipartite settlement calculation end of the long waiting day seems to be over for bankers. Bank employees wage revision 10th bipartite wage settlement comes to an end. Section v leave rules foboisufederation of bank of. Modi government may gift increase in salary to bank workers keeping in view the upcoming loksabha elections. In the long 70 years of journey of aibea, improving the economic conditions of the bank employees has been a major task.
Oct 23, 2016 young bank employees are eager to know the process of wage revision bipartite settlement eleventh. The department of financial services, ministry of finance has set the ball rolling for commencement of 11th bps and they have issued a notification to all the banks that are part of the process, advising them to complete the whole process well bef. Different set of bank employees retired on various. Public sector bank employees may calculate their salary difference after 11th bipartite wage revision here is the projected salary calculator based on 11th bps.
Here you can get the other highlights of the settlement. For retirees also we have asked iba to workout a similar scheme. Maternity leave clause 30 of bipartite settlement dated 27 th april 2010 shall be substituted by the following. February 23, 2015 in 10th bipartite discussions, bank employees news, bipartite settlement, national union of bank employees x bipartite bank employees wage revision settlement points between iba and bank unions indian banksassociation minutes of the dis. Next 11 th bipartite settlement meeting between bank union and indian banks association is scheduled to be held on 5 th may. The much delayed negotiations with iba on our charter of demands for wage revision recommenced on 5th may, 2018 after a. Public sector bank employees salary bipartite settlement updates. He has also stated that the officers associations are creating impediment to the settlement. So far no upadation is done even after 3 bipartite settlements. Views of himadri on 10th bipartite settlement for bank. These meetings are held between the indian banks association and the union of bank employees. Officers wage revision new pay scales 10th bpsbank bipartite settlement officers wage revision new pay scales 10th bpsbank bipartite settlement basic pay 23700 to 85000.
The settlement was sign in may 2015 with 15 percent hike. National bank officers congress inboc and national organisation of bank. The settlement gives 15% increase in salary and allowances to about 10 lakh bank employees. Salary revision 10th bipartite settlement indian banks. Wage revision for bank officers and workmen may be done. X bipartite bank employees wage revision settlement.
The earlier provisions relating to maternity biparitte as in clause the overtime allowance paid to the employees for the overtime work performed uptil 31st march shall not be recalculated on account of this settlement. Meeting of the subcommittee on salary revision very lengthy circular click here aiboc clr201504 dt 15 01 2015. Apr 17, 2015 tenth bipartite updates todays meeting update 16042015 today iba ufbu meeting took place wherein all details of proposed new medical reimbursement scheme was discussed. Salary of bank employees after 11th bipartite settlement. The process of wage negotiation for public sector bank officers and workmen may be done separately again after oneandahalfdecade with the largest officers union boycotting the talks while the workmen unions are in favour of going ahead with it. Bank in terms of the 10th bipartite settlement dated 25. This charter of demand will be the basis for discussions and negotiations for finalizing the salaries, benefits and other matters concerning bank employees 11 th bipartite settlement for bank employees. We are t hankful to the lakhs and lakhs of bank employees under the. Joint note25th may 20151 joint note salary revision for officers conclusion of discussions between the iba and the officers associations the negotiating committee of indian banks. In partial modification of clause xiv of bipartite settlement dated 29th october 1993, clause of bipartite settlement dated 27th march 2000 and clause of the bipartite settlement dated 2nd june 2005, the fixed personal pay shall be revised with effect from 1st november 2007 as per schedule iv. Bank clerk salary after 10th bipartite wage agreement. Implementation of new medical insurance scheme for bank. It was provided in pension settlement 19931995 that pension will be updated as and when wage revision took place in banking industry. X bipartite bank employees wage revision settlement points.
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