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Bipartite Settlement Signed between Management of 43 Indian Banks’ Association and AIBEA.

Memorandum of Settlement signed between the Managements of 43 Banks as represented by the Indian Banks’ Association and their workmen – 10th Bipartite Settlement

Bank Wage Revision Agreement – 10th Bipartite Settlement signed today between the Management of Indian Banks’ Association representing 43 Banks and and their workmen as represented by the All India Bank Employees’ Association, National Confederation of Bank Employees, Bank Employees’ Federation of India, National Organisation  of Bank Workers and Indian National Bank Employees’ Federation.

Bank Employees Wage Revision - Joint Not to be signed on 21st May 2015MEMORANDUM OF SETTLEMENT dated 25th May 2015 between the Managements of 43 Banks as represented by the Indian Banks’ Association and their workmen as represented by the All India Bank Employees’ Association, National Confederation of Bank Employees, Bank Employees’ Federation of India, National Organisation  of Bank Workers and Indian National Bank Employees’ Federation.

[Under Section 2(p) and Section 18(1) of the Industrial Disputes Act, 1947 read with Rule 58 of the Industrial Disputes (Central) Rules, 1957]

SHORT RECITAL OF THE CASE

(A)    The Indian Banks’ Association  (IBA) on behalf of its member banks named in the Schedule I hereto, signed a settlement dated 27th  April 2010 with the All India Bank Employees’   Association   (AIBEA),   National   Confederation   of  Bank  Employees (NCBE),  Bank  Employees’  Federation  of  India  (BEFI),  National  Organisation  of Bank Workers (NOBW) and Indian National Bank Employees’ Federation (INBEF) representing the workmen employees of the Banks mentioned in the said Schedule I, inter alia regarding various terms and conditions of their service. The Settlement dated 27th April 2010 was operational for a period of 5 years from 1st November 2007.

(B)    The AIBEA, NCBE, BEFI, NOBW and INBEF (hereafter jointly called the Unions) submitted their Charter of Demands dated 30th October 2012 for revision in wages and other service conditions  of workmen to IBA and requested  for negotiations  on the same, with a view to arriving at an amicable settlement.

(C)    Simultaneously,   IBA   also   raised   with   the   Unions,   issues   on   behalf   of   the managements  of  banks  concerned,  to  be  discussed  and  settled  with  a  view  to improving efficiency of operations in banks.

(D)    The  parties  agreed  that  the  total  quantum  of  wage  revision  increase  (salary slip component) shall be Rs.2270 crores being 15% of the salary slip component of Establishment  Expenses of Public Sector Banks which are parties to this settlement for the year ending March 2012. It was further  agreed that the new salary of pay would  be  constructed,  after  merging  Dearness  Allowance  corresponding  to  4440 points and with a loading of about 2%.  It was further agreed that every second and fourth  Saturday  of  the  month  will  be  a holiday  and  other  Saturdays  will  be  full working days. All other issues of the Management and Workmen Unions discussed during the process of negotiations  would be settled to the mutual satisfaction.   The parties  signed  and  exchanged  minutes  in  this  regard  on  23rd   February  2015  at Mumbai.

(E)    The  parties  negotiated  the  aforesaid  demands  and  issues  and  have  reached  an agreement as set out hereinunder in full satisfaction of their demands.

(F)    The agreement reached as aforesaid shall amend, modify and supersede the relevant provisions of the Awards and Settlements wherever referred to in this Settlement.

Scales of Pay

In modification of Clause 4 of Bipartite Settlement dated 27th  April 2010, with effect from 1st November 2012 the scales of pay shall be as under:-

Clerical Staff

11765- 655/3-13730-815/4-16175-980/4-20095-1145/7-28110-2120/1- 30230-1310/1- 31540 (20 years)

Subordinate Staff

9560-325/4-10860-410/5-12910-490/4-14870-570/3-16580-655/3-18545 (20 years)

Stagnation Increments In partial modification of Clause 5 of Bipartite Settlement dated 27th  April 2010, both clerical and subordinate staff (including permanent part-time employees on scale wages) shall be eligible for eight stagnation increments w.e.f.  1st November 2012.

Dearness AllowanceClerical and Subordinate Staff

0.10% of ‘pay’

House Rent Allowance

In substitution  of Clause  9 of the Bipartite  Settlement  dated 27th  April 2010 with effect from 1st November 2012, the House Rent Allowance payable shall be as under:

Area

Rate as percentage of Pay
[No Minimum/ No Maximum]

(i)

Places with population of more than 45 lakhs and
Project Area Centres in Group ‘A’

10.00%

(ii)

Places with population of 12 lakhs and above
including State of Goa and Project Area Centres in
Group ‘B’

9.00%

(iii)

Other places not covered in (i) and (ii) above

7.50%

Click to read more features of Bank Wage Revision Bipartite Settlement

Bank Wage Revision Agreement – Arrears working software for Clerks

Bank Wage Revision Agreement – Arrears working software for Sub-Staff

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