11th Bipartite Banks
Bank Bipartite settlement talks between UFBU and IBA
17th September 2020
As per The joint circular issued by bank unions :
Cost of wage revision – for workmen : Rs. 3385 cr (Out of the total of Rs. 7898 crores).
Amount allocated for Basic Pay, DA, Spl. Pay, PQP : Rs. 495 crores
For other payslip components : Rs. 2890 crores
Pay Scales: Proposals on revised Pay Scales were discussed and looking to overall cost,
it was decided to finetune the same and finalise the payscales.
It was agreed that one more stagnation increment would be granted both to clerical and substaff.
Special Pay, PQP, FPP – being revised on the same basis as revision in Basic Pay.
Special Allowance: Special
Allowance should be revised substantially upward but within the cost.
Revision in HRA, Transport Allowance and Medical Aid: After finalising the
percentage of Special Allowance , these items would be finalised.
Non financial items: Most of the items as already discussed during the earlier meetings were reiterated and confirmed.
Remaining items will be finalised shortly.
11 September 2020
Next meeting on 17th September 2020 to finalize salary structure.
28 August 2020
Discussions in Meeting on 28th August 2020:
- 1. Out of Rs. 7808 crores (15%) of total amount agreed in the MOU for employees and officers put together, the amount apportionable for workmen employees would be Rs. 3385 crores. Out of this. Rs. 495 crores would be towards Pay + DA and balance Rs. 2890 crores would be distributed to other components.
- 2. Tentative proposals on new Payscales were discussed and the same would be finalised in the next round of meeting.
- 3. The issue of dispensing with the Graduation increment and constructing the clerical payscales accordingly was discussed but
not yet finalised.
- 4. DA rates from November, 2017 would be 0.07% per slab of 4 points of quarterly average increase over 6352 points.
- 5. issue of grant of one more stagnation increment and also improvement in periodicity i.e sanction of all stagnation increment every two years for clerical cadre like substaff. Issue will be further discussed and finalised.
- 6. Some discussions took place on Special Pay, Special Allowance, etc. but it was decided that the same would be finalised after finalising the payscales.
Further discussions will be held in the next round of meeting to be held shortly.
22 July 2020
The waiting time is finally over for the public sector banks. Their much needed demand for settling the 11th Bipartite Wage Revision is finally concluded with 15% hike.
Highlights of MOU between IBA and UFBU In todays meeting on 22-07-2020
The date of effect is 01.11.2017
Total increase will be 15% ( 7898 crores)
DA will be merged at 6352 points
Load Factor 2.5 % on Basic Pay (Approx 1155Carores)
Distribution will be done seperately by mutual discussion
PLI – 5-10-15 days salary for incremental GP above 5, 10, 15%
Additional Encashment 5 days per year ( 7 days above 55 years)
NPS contribution 14% ( Govt. decision to be followed)