IBA – UFBU meeting on 16th April 2015 – AIBEA Report

IBA – UFBU meeting on 16th April 2015 – AIBEA Report

Today (16-04-2015) IBA – UFBU meeting took place wherein all details of proposed new medical reimbursement scheme was discussed.

Scheme will be finalised shortly.

For retirees also we have asked IBA to workout a similar scheme.

In the afternoon discussions on other demands of workmen and officers were discussed.

Next week negotiating committee meeting will be held and pay scales etc. will be discussed.

Source: AIBEA

Increase of salary for bank employees

Likely increase of salary for bank employees

After long wait and negotiations, strike call and withdraws, finally the wage hike settled for bank employees with 15% hike in pay slip components and two extra holidays per month. Click here for details. Details of hike and joint note will be prepared within three months. As per sources, two saturdays will be holidays from 1st April onwards.

Bank employees are very much eager to know the amount of exact increase in pay slip. Though no official confirmation is available, we reproduce a likely chart of increase as procured and sent by one of our viewers, Mr Debashis Das.

Click here to view the approximate pay hike chart

Source: www.paycommissionupdate.blogspot.in

Bank Employees Wage Revision – 10th Bipartite Wage Settlement

Bank Employees Wage Revision – 10th Bipartite Wage Settlement Comes to an End

WE ARE HAPPY TO INFORM THAT IN TODAY’S TALKS, WAGE REVISION SETTLED AT 15% (RS.4725/- CRORES) WITH EFFECTIVE FROM 01.11.2012.

2ND AND 4TH SATURDAY’S WILL BE HOLIDAYS AND OTHER SATURDAY’S WILL BE FULL WORKING DAYS.

STRIKE DEFERRED.

DETAILED CIRCULAR FOLLOWS.

Indian Banks’Association

Minutes of the discussions held on 23rd February 2015 between IBA representing

Management of banks which are parties to the Bipartite settlement and

Workmen Unions and Officers Associations on wage revision

Discussions were held between the Indian Banks’Association representing Managements of banks and the authorized representatives of Workmen Unions and Officers Associations on wage revision for officers in banks. After holding several rounds of discussions, the parties have mutually agreed as under:

1. The wage revision will be effective from 1.11.2012

2. The annual wage increase in salary and allowances @ 15% which works out to Rs.4725 crores on salary slip components.

3. The new scales will be constructed after merging dearness allowance corresponding 4440 points as on November 2011, which works out to 60.15% and adding a load factor of 2% on Basic pay plus Dearness Allowance as on 31st March 2012 amounting to around Rs.597 crores.

4. Distribution of annual wage increase between workmen unions and Officers Associations will be worked separately based on breakup of establishment expenses as on 31-3-2012.

5. Every second and fourth Saturday of the month will be a holiday and the other Saturdays will be full working days.

6. All other issues of the Managements and Unions/Associations discussed during the process of negotiation will be settled to the mutual satisfaction.

7. The parties will meet on mutually convenient dated to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus positions have been reached. The parties will endeavour to finalise the Bipartite Settlement/Joint Note within a period of ninety days from the date of this minutes.

Signed at Mumbai on 23rd February 2015

For Management
TM Bhasin
VR Iyer
Arundhati Bhattacharya
Rajeev Rishi
Ashwani Kumar
Arun Tiwari
Rakwshi Bethi
shyam Srinivasan
Animesh Chauhan
Ashwini Mehra
MV Tanksale
K Unnikrishnan
KS Chauhah

For Officers Association Workers Unions

All India Bank Officers Confederation
All India Bank Officers Association
Indian National Bank Officers Congress
National Organisation of Bank Officers
All India Bank Employees Association
National Confederation of India
Bank Employees Federation of India
Indian National Bank Employees Federation
National Organisation of Bank Workers

Click here to view the original 10th Bipartite Wage Revision Settlement Minutes

Source: www.7thpaycommissionnews.in