2)Minutes of the discussions held on 23rd February 2015 between IBA representing Management of bank which are parties to the Bipartite Settlement and Workmen Unions and Officers’ Association on wage revision
Discussions were held between the
Indian Banks’ Association representing Managements of Banks and the authorised
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 factor 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 and Officers’ Association will be worked separately
based on breakupof establishment expenses as on 31.03.2012.
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
Management and Unions / Associations discussed during the process of
negotiation will be settled to the mutual satisfaction.
7. 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 endeavour to finalise the Bipartite Settlement / Joint Note within a
period of ninety days from the date of minutes
Signed at Mumbai on 23rd February
2015
For Management
Sd/-
For Officers Associations / Workmen
Unions
Sd/-
