There is some good news for bank employees. The next meeting of Bank Union with IBA is scheduled to be held on 9th January 2024 and 12th January 2024.
Meeting of the Core Group will be held on 9th January 2024 and meeting with Main Negotiating Committee will be held on 12th January 2024.
Earlier Bank Union had signed MOU with IBA regarding 12th Bipartite Settlement. The main points regarding the settlement are as follows:
Banks 12th Bipartite Settlement Points
#1) The wage revision will be effective from 1.11.2022 for a period of five years.
#2) Annual increase in salary and allowances is agreed at 17 %, of the annual pay slip expenses for FY 2021-22, which works out to Rs. 12,449 crores for all public sector banks including SBI.
#3) The new pay scales will be constructed after merging Dearness Allowance corresponding to 8088 points (average Index point as applicable for the Quarter of July, August and September, 2021) to the basic pay as on 31.10.2022, and adding thereon a loading of 3 %, amounting to Rs 1795 crore.
#4) Distribution of annual wage increase between Workmen and Officers will be worked out separately and proportionately based on breakup of establishment expenses for FY 2021-22.
#5) Without prejudice to the demand of unions/associations for updation of pension for all retirees, it is also agreed that as a one-time measure applicable for the current bipartite / Joint Note period, monthly ex-gratia amount will be considered along with pension by PSBs to pensioners and family pensioners, who were drawing pension as on 31/10/2022. The applicability of the said ex-gratia for the retirees of the current settlement period will be discussed further. The said ex-gratia amount will not attract any other allowance including dearness allowance.
#6) The parties will meet on mutually convenient dates to draw out a detailed Bipartite parties will endeavor to finalize the Bipartite Settlement /Joint Note within a period of 180 days from the date of this minutes.
#7) IBA has already recommended to the Government for declaration of all Saturdays as holidays under NI Act for Banking industry in line with earlier negotiations with unions /associations and the same will be pursued. The unions/associations urged for implementation of the same before signing of the final bipartite agreement/ joint note.
#8) All other issues of the Managements and Unions/Associations discussed during the process of negotiation including payment of ex-gratia to pensioners and family pensioners of private sector banks and foreign banks will be settled to the mutual satisfaction.
![IBA released Fitment Chart for Bank Employees as per 12th BPS [Download PDF]](https://hellobanker.in/wp-content/uploads/2024/08/OrangeandBlackWithPhotoCameraYoutubeThumbnail_20240821_081606_0000-ezgif.com-jpg-to-webp-converter-390x220.webp "IBA released Fitment Chart for Bank Employees as per 12th BPS [Download PDF]")
Very true that the current union leaders are nothing but a bunch of selfish persons. Otherwise bank pensioners wouldn’t have made to wait to get their pension revised. In the meanwhile more than a lakh of pensioners passed away, this making the government richer. What a shame!
Totally agreed, no one has care for their members,On one hand, the bank management is harassing the employees and on the other hand, there is no strength left in the bank union, all the old leaders have already retired and have been sitting on the posts for ten, twenty years, in this BPS the government hasn’t asked or give chance to do something. Didn’t even give a chance and settled, if this situation continues then there will be a lot of loss in future.
Every bipartite settlement since I joined a PSB in 1980 was meant for the serving employees. Apart from pension which came later on in the early years of the nineties twice and then again in 2010, not a single bipartite settlement had given a serious thought about the welfare of pensioners. But then pension was the brainchild of late Tarakeshwar Chakraborty a colossus among his contemporaries. He genuinely cared for the employees. Today’s leaders are a bunch of corrupt selfish individuals and nothing else whose only mission is to cling to their posts like lice only.