Finance Ministry approved 10th Bipartite Settlement Wage Revision for Bank employees for period 1.11.2012 to 31.10.2017
Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation – 10th Bipartite Settlement for period 1.11.2012 to 31.10.2017
Government of India
Ministry of Finance
Department of Financial Services
Jeevan Deep. IIIrd Floor,
Parliament Street, New Delhi,
Dated the June 19, 2015
Indian Banks’ Association,
Subject: Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation – 10th Bipartite Settlement for period 1.11.2012 to 31.10.2017
I am directed to refer to your letter No. HR&IR/KSC/GOVT/665 dated 25th May, 2015 on the above subject and to say that Government has ‘No objection‘ to IBA authorizing the Banks to pay revised salary and arrears of pay and allowances to serving officers and revised pension and arrears to existing pension optees retired w.e.f. on or after 1.11.2012 as per the provisions at the Joint Note pending amendments to the Officer’s Service Regulations/Pension Regulations subject to the provisions made by the respective banks in the particular year.
2. As regards declaring 2nd and 4th Saturday as holidays and other Saturdays as full working days is concerned. IBA may rater to this Department’s letter No. 4/1/7/2015-IR dated 2.6.2015.
3. This issues with the approval of Hon’ble Finance Minister
(S R. Mehar)
Deputy Secretary to the Government at India