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11th Bipartite Settlement Latest News | 15% salary Hike for Bank Employees

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11th Bipartite Settlement Latest News – 15% salary Hike for Bank Employees

The 11th Bipartite Settlement was a meeting between the Indian Banks’ Association and the All India Bank Employees’ Association in order to discuss and agree upon a new wage structure for bank employees in India. This was the 11th time that such a meeting had been held, hence the name. The first 10 meetings were not as successful as this one, with little to no agreement being reached. However, the 11th Bipartite Settlement was different.

Both parties came to an agreement on a new wage structure, which would be implemented from 1st November 2017. This wage structure would be valid for a period of 5 years, until 31st October 2022. The new wage structure would see an increase in salaries for both workmen and officers. Workmen would see their salaries increased by 2% every year, while officers would see their salaries increased by 3% every year. In addition, a special allowance of Rs. 1000 per month would be given to workmen, and a special allowance of Rs. 1500 per month would be given to officers.

11th Bipartite Settlement Salary Chart

The 11th Bipartite Settlement Salary Chart is a great resource for anyone looking to understand what their salary would be under the new agreement. The chart is easy to read and provides a clear breakdown of the different salary ranges for both workmen and officers. It is important to note that the salaries listed are only base salaries and do not include any allowances or other benefits that may be included in the final package.

11th Bipartite Settlement for Bank Employees

The 11th Bipartite Settlement was a historic agreement reached between the Indian Banks’ Association (IBA) and the All India Bank Employees’ Association (AIBEA) in 2015. This agreement resulted in a significant increase in salaries for bank employees across India.

Under the terms of the settlement, workmen employees were given a salary hike of 15% while officer employees received a hike of 7.5%. In addition, all bank employees were given a special allowance of Rs. 2,000 per month. This allowance is in addition to the regular salary and is meant to cover the cost of living expenses.

The 11th Bipartite Settlement was a major victory for bank employees and has resulted in a significant improvement in their standard of living.

11th Bipartite Settlement for Bank Officers

The 11th Bipartite Settlement between the Indian Banks’ Association (IBA) and the National Organisation of Bank Workers (NOBW) was signed on 27th October, 2017. The agreement will be effective from 1st November, 2017 and will remain in force for a period of five years.

The major highlights of the agreement are as follows:

1. The officers will get a salary increase of Rs. 3000/- per month in the first year, Rs. 3500/- per month in the second year, Rs. 4000/- per month in the third year and Rs. 4500/- per month in the fourth and fifth year.

2. There will be no change in the present system of promotion by merit-cum-seniority.

3. The officers will be entitled to annual increment at 3% of basic pay plus DA thereon every year.

4. The officers will also be eligible for Performance Related Pay (PRP) linked to Business Volume Growth (BVG) and Net Profit Growth (NPG). The maximum amount payable under PRP shall not exceed 10% of the total emoluments excluding allowances in a financial year. The PRP shall be paid out of profits earned during the financial year and no arrears shall be carried forward or paid for any previous financial year/s.

5. A new scheme called “Incentive for Acquisition of New Customers” (IANC) has been introduced for officers with effect from 1st January, 2018 wherein they will be eligible for an incentive @ Rs. 25/- per new customer acquired with minimum balance requirement of Rs 5000/- maintained till 31st March

The 11th Bipartite Settlement was a great success for both the workmen and the officers. The workmen received a significant salary increase, while the officers received a smaller but still substantial raise. This settlement was able to keep both groups happy, and it is a model for future settlements.

11th BPS Meeting on 22.7.2020

Indian Banks’ Association

Minutes of the discussions held on 22nd July 2020 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 and workmen in banks.

The Management and the Unions representing Officers and Workmen staff. acknowledge the need for a robust banking system which is responsive to the challenges facing the country and the need to improve further the productivity, efficiency and responsiveness to the needs of the customers and various stakeholders. With this commitment, it has been agreed to resolve the pending wage settlement issue and enter into an MoU as under-

1. The wage revision will be effective from 1.11.2017.

2. The annual wage increase in salary and allowances is agreed at 15% of the wage bill as on 31-3-2017 which works out to Rs.7,898 crores on Payslip components.

3. The new pay scales will be constructed after merging Dearness Allowance corresponding to 6352 points (average Index point as applicable for the Quarter of June, July, August 2016) and adding thereon a loading of 2.50% on Basic Pay plus Dearness Allowance as on 31st March 2017 amounting to around Rs. 1155/- Crores.

4. Distribution of annual wage increase between Workmen and Officers will be worked separately and proportionately based on breakup of establishment expenses as on 31.3.2017.

5. In today’s Banking scenario, there is stiff competition amongst different category of banks i.e., Public sector, Private sector, Foreign banks. In order to inculcate a sense of competition and also to reward the performance, the concept of Performance Linked Pay is felt to be introduced. After prolonged discussions and deliberations on this matter, it has been agreed to introduce Performance Linked Incentive (PLI) in Public Sector Banks, which will be based on Operating/ Net Profit of the individual bank (optional for private & foreign banks). The PIA is payable to all employees annually over and above the normal salary payable. The PLI matrix decides the amount payable to the employees (in number of days of pay-Basic+DA) depending on the annual performance of the bank. All the employees will get the number of days of pay as incentive depending on where in the matrix the bank’s performance fits in, broadly as per Matrix under :

SI. No. YoY Growth in Operating Profit No. of days for which Salary (Basic + DA) all be paid
1 <5% Nil
2 5% to 10% 5 days
3 >10% to 15% 10 days*
4 >15% 15 days*
*3rd & 4th slabs are payable only if the Bank has Net Profit. If a Bank has growth in Operating Profit of 5% & more, but there is no Net Profit, then minimum 2nd slab of 5 days will be payable

(The PLI will be applicable from FY- 2020-21)

6. From the calendar year 2020, besides encashment of PL at the time of retirement and during availment of LFC, PL Encashment would be permitted at 5 days every calendar year (7 days in case of employees/officers of 55 years of age and above) at the time of any festival of their choice.

7. It has been agreed to increase the banks contribution to the NPS fund to 14%, i.e. 14% of Pay & Dearness Allowance instead of the present rate of 10% from the prospective date of signing the settlement subject to approval of the Govt.

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

9. The parties will meet on mutually convenient dates to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus positions have been reached. The parties will endeavor to finalize the Bipartite Settlement /Joint Note within a period of ninety days from the date of these minutes.

Signed at Mumbai on 22nd July 2020

  • For Management – 9 Officers signed
  • For Workmen Unions/Officers Associations – 9 Staff side members signed
  • Witness: 3 officers signed

11th Bipartite Settlement: Bank Employees Wage Revision effective from 1.11.2017

Annual Salary Hike: The annual wage increase in salary and allowances is agreed at 15%. Distribution of annual wage increase between Workmen and Officers will be worked separately and proportionately based on breakup of establishment expenses as on 31.3.2017. [Click to read more]

Next 11th BPS Meeting – UFBU Meeting with IBA will be held on 22.7.2020

  • Next 11th BPS meeting will be held on 22nd July 2020 between Negotiating committee of IBA and United Forum of Bank Unions (UFBU). [Click to read more]

Bipartite talks on 22 July 2020: Bank issues like Merger of Special Allowance with Basic Pay

Expected to talk about the main issues on this meeting.

  • Merger of Special Allowance with Basic Pay
  • Loading after merger of DA
  • 5 day banking
  • Improvement of family pension
  • Updation of pension.
  • Click to read more

Click to download the minutes as pdf

11th Bipartite Settlement News Latest 2020 – IBA Letter to UFBU

Formation of Working Groups consequent to the Signing of MoU dated 22nd July 2020

As per the IBA letter dated 13th August 2020, the total increase in basic pay and merged Dearness Allowance is capped a 2.50%, the remaining amount i.e., 12.50% (15% – 2.5%) needs to be distributed amongst other remaining pay slip components. Such as HRA, CCA, Annual Medical Aid, etc., for both Workmen and Officers, so that the overall cost does not cross Rs. 7898 Crores. [Click to read in detail]

Latest Development on 11th BPS

11th Bipartite Settlement Latest News 15 percent hike
11th Bipartite Settlement Latest News 15 percent hike

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