Stagnation Increment rules for Bank Officers from Scale 1 to Scale 5 changed as per 11th Bipartite Settlement . However banks not implemented these stagnation increments benefits to bank officers. But now IBA clarified all doubts and revised guidelines for Stagnation Increments for officers in public sector banks as well as banks covered under 11th Bipartite settlement.
New Stagnation Increments for Bank Officers w..e.f. 01.11.2017 under 11th Bipartite Settlement :
Stagnation Increments for Bank Scale 1 Officers (JMGS I)
Old Eligibility: four stagnation increments
New Eligibility: five stagnation increments
First two stagnation increments: Rs.1990
3rd and 4th Stagnation Increment: Rs.2220
(First 4 Increments every 2 years)
Fifth stagnation increment: Rs.2220 will be released two years after receipt of 4th stagnation increment or w.e.f. 1 November 2017, whichever is later.
You can also watch this video to understand Stagnation Increments for officers as per 11th bipartite in easy language with easy examples :
Stagnation Increments for Bank Scale 2 Officers (MMG Scale II)
Old Eligibility: four stagnation increments.
New Eligibility: five stagnation increments.
First four stagnation increments: Rs.2220 (every two years)
The fifth Stagnation increment: Rs.2220 will be released two years after release of
4th stagnation increment or w.e.f. 18 November 2017,whichever is later.
Stagnation Increments for Bank Scale 3 Officers (MMG Scale III)
Old Eligibility: five stagnation increments.
New Eligibility: Six stagnation increments.
First four stagnation increments: Rs. 2220 (After every two completed years)
Second Last (5th Stagnation increments): Rs. 2500 (2 years after receipt of the 4th stagnation)
Sixth stagnation increment: Rs. 2500 will be released two years after release of 5th stagnation increment or w.e.f. 1 November 2017, whichever is later.
Stagnation Increments for Bank Scale 4 Officers (SMG Scale IV)
Old eligibility: One stagnation Increment
New Eligibility: Two stagnation increment
2nd stagnation increment: 2730 will be released after two years of receipt of first stagnation increment or w.e.f. 1.11.2017, whichever is later.
Stagnation Increments for Bank Scale 5 Officers (SMGS — V)
Old Eligibility: No Stagnation Increment
New Eligibility: One stagnation Increment: Rs.2970 (Two years after reaching the top of scale or w.e.f. 1.11.2020, whichever is later.
Important Note :IBA clarified that the Stagnation increments received by the Officers From Scale I to Scale 1V who were in service of the banks as on 1st November,
2017 would be readjusted from three year periodicity (old eligibility) to two year periodicity (new eligibility )from the date of reaching top of the scale and officer shall be notionally eligible for stagnation increments w.e.f. 1.11.2017 which will qualify for superannuation benefits.
Monetary benefit due to revised and readjusted frequency of stagnation increments shall be payable from 1st November, 2020 or the actual date of entitlement whichever is later.
Existing bank Officers / retired bank officers in service of banks as on 01.11.2017 are eligible for these new stagnation increment benefits . Rules are effective from 01.11.2017 and frequency of stagnation increment is 2 years in all scale .
For Bank Award Staff ( Bank Clerk & Subordinate Staff ) Stagnation Increment details pls visit this page Bank Award Staff Stagnation Increment as per 11th Bipartite Settlement or you can also watch this video for stagnation increment for Clerks & Sub-staff :