What is 12th Bipartite Settlement? Bank Employees Salary and other allowances/ emoluments to be revised every 5 year through bipartite settlement also known as BPS between bank unions (UFBU – United Forum of Bank Unions) and IBA (Indian Bank Association). Previous time salary was increased in 11th BPS . Salary revision for bank Employees is due with effect from 01.11.2022 under 12th Bipartite Settlement.
Although Bipartite Settlement never signed on time. Last BPS of bank wage revision was effective from 1st November 2017 & was signed on 11.11.2020 i.e. with a delay of 3 years. History of Bipartite Settlement suggest that we can expect implementation of 12th Bipartite Settlement in 2025
To Know Expected Hike Watch this video in which revised basic, Merger of Dearness Allowance and expected salary hike discussed in detail: