The salary of Bank employees has been increased as per the 12th Bipartite Settlement signed on 8th March 2024. The salary and arrears sheet of clerks and substaff working in banks is given below.
The Indian Bank Association (IBA) and bank employee unions have recently reached an agreement on the 12th bipartite wage hike settlement. This settlement, as per the officially signed Memorandum of Understanding (MOU), will be effective for the next five years, starting from November 1, 2022. According to the information reviewed by Moneycontrol, bank employees can expect a significant 17 percent increase in their salaries.
This agreement comes after months of negotiations between the IBA and bank employee unions. The 12th bipartite settlement aims to revise salaries and improve the overall service conditions for bank employees across the country. With the new settlement in place, bank employees can look forward to enjoying a more favorable remuneration package.