12th Bipartite Wage Settlement Latest News – Public Sector Bank employees’ unions have demanded for the restoration of the old pension scheme for all the employees who joined after 2007. The demand for same is included in the charter of demands for 12th Bipartite Wage Settlement which will be in effect for five years from November 1st.
Bankers’ Union has provided the examples of the few states where the same is restored for state government employees like Punjab, Chhattisgarh etc. They demands to revise wages and other service conditions with a fresh settlement in the upcoming 12th BPS Wage settlement.
The unions also said that the high inflation was eroding the real wages for employees.
“…while there is a scheme for compensation against periodical price rise through payment of DA (dearness allowance), the unprecedented price spiral in recent years in light of the uncontrollable inflation is seriously eroding the real wage and wages are far lagging behind the actual price rise,” the note said, adding that compensation has to match up to this rise, which is the reason the unions have asked for an increase in wages and improvement in the DA formula.
The unions said the total business of banks rose from Rs 1.36 trillion as on March 31, 2017, to Rs 1.78 trillion as of March 31, 2022, though the number of workmen fell during that period from 469,997 in 2017 to 391,612 in 2022.
“…the total business volume of public sector banks has gone up by 30 per cent, there is a reduction of 20 per cent in the workmen staff in the banks,” the note said, while adding that there was an increase of 20 per cent in the business per employee in the last five years. Also Read – 12th BPS – Charter of Demands By CBOA
Charter of Demands by Employees Unions
- Immediate introduction of 5-day work week
- The wage revision be applicable for CSB Bank and DBS India, which had merged with the old generation private sector bank Lakshmi Vilas Bank in 2020.
- Improvement in pension for all existing pensioners
- Merger of special allowance with basic pay
- Provision for housing accommodation/improvement in HRA
- Introduction of leave bank system
- Improvements in medical insurance scheme for employees/retirees
- Bonus for all employees
- Outsourced employees/contract labor to be regularized as permanent employees of the bank
