12th Bipartite Wage Settlement Latest Updates – 11th bipartite settlement was signed on 11.11.2020, however, some of the demands of unions were kept pending for discussion. The issues detailed below are still under discussion and the last meeting between IBA and UFBU constituents was held on 13.04.2022.
Table of Contents
Pending Demands of 11th bipartite wage settlement
- Implementation of 5-day banking.
- Stagnation increment fitment as per 11thBipartite Settlement
- Pension updation of old retirees.
- One option of pension for resignees.
- To change the base year for dearness allowance from 1960 to 2016
- To base staff welfare fund on operational profit as against 3% of net profit at present.
- To reduce Mediclaim premiums for retirees.
- To make branch and cash timings uniform across all bank branches.
- Fitment for Ex-serviceman
- To increase allowances for bank staff working in disturbed area like Jammu & Kashmir.
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