The Ministry of Finance, Government of India has released an official letter directing public sector banks to complete 13th BPS on time.
The 13th Bi-partite Settlement / 10th Joint Note for wage revision of employees of the Public Sector Banks is scheduled to take effect from 01.11.2027.
Earlier, the wage revision settlements were signed in around 2 to 3 years. But the 12th Bi-partite Settlement / 9th Joint Note) was concluded in a much shorter period of 14 months. This year the Government wants to complete the settlement within time.
Public Sector Banks have been advised this year to complete the negotiation processes within a maximum period of twelve months.
The Government said that it has been observed that, on previous occasions, consequential amendments to the pertinent Regulations have been effected after a considerable delay following the settlements.
As negotiations for the upcoming settlement are now being initiated in a timely manner, it is underscored that the consequential amendments to the relevant Regulations should also be completed prior to the scheduled due date of the next wage settlement.
The process of implementing consequential amendments to the regulations typically takes approximately three to four months. Therefore, it is advised that, immediately upon the conclusion of negotiations, the banks may initiate the process of amending the relevant Regulations so that the amendment processes are completed well before the scheduled date of commencement of the next wage settlement (i.e.) 01.11.2027.
Click here to download 12th BPS Circular PDF
