Wage revision for Bank Employees Update,Wage Revision for Bank Employees

A meeting was held on 3rd April 2010 between IBA representing Management of Banks which are parties to the Bipartite settlement and the Four Officers’ Association viz., AIBOC, AIBOA, INBOC & NOBO on wage revision for bank Employees .

After holding several rounds of discussions, the parties have mutually agreed as under:

Higher start of Basic Pay demanded but due to cost constraints, IBA not considered.
Basic Pay Rs.14500/- Rs.52000/-
2. Medical Aid –Rs.5100 / upto Scale III – above Scale III – Rs.6320/-
3. Stagnation Increment for Scale I, II and III – 2 increment
4. Next round of discussion on Residual Issues – 9th & 10th April 2010.
5. On common issues UFBU meeting with IBA on 12.04.2010 for finalizing Pension draft.
6. Settlement will be signed on 15.04.2010

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SOurce links:
http://www.aiboa.org/iba.htm