11th BPS – Discussion on Wage Revision with IBA | 17 Sept 2019

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11th Bipartite Settlement meeting updates, 11th bps wage revision meeting held on 17 September 2019 – The minutes of joint circular by All India Bank Officer’s Confederation(AIBOC), All India Bank Officer’s Association (AIBOA),  Indian National Bank Officer’s Congress (INBOC), National Organisation of Bank Officers (NOBO) are as follows :

11th Bipartite Settlement (BPS) Meeting Updates – Bank Employees Wage Revision

Today, one more round of discussion was held at Mumbai with IBA. IBA Team was led by Chairman, Negotiating Committee Shri Raj Kiran Rai (UBI), Shri Prashant Kumar (CFO SBI), Shri Alok Kumar Chaudhury (SBI) besides IBA officials and HR department functionaries. Representatives from four officers’ organizations along with five workmen unions participated.

11th BPS Bank Employees Wage Revision Meeting Updates
11th BPS Bank Employees Wage Revision Meeting Updates

Team IBA presented a power point presentation on Performance Linked Incentive Pay (PLIP). The basic factors considered in the power point presentation were operating profit and Return on Assets. It was provided by IBA in Sept 2018. There were exchange of views and it was inconclusive. It was amply made clear by IBA that PLIP component is over and above the industry level settlement.

IBA offers wage revision at 12 percent

Team IBA expressed that the final offer on (payslip component) wage revision is 12%. On mandate issue, IBA offered to resolve the same by taking it to the respective boards for necessary approval.

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On other issues like 5 day banking, family pension and updation of pension, the situation is in fluid state. The Chairman Negotiating Committee appealed to the representatives of four officers’ organizations not to go ahead with the proposed strike action on 26th and 27th Sept, 2019 which would derail the further negotiations. In response to the appeal, it was expressed that the proposed announcement of merger of Banks made on 30th August, 2019, one day after our earlier discussion, was a rude shock having a cascading effects on the entire workforce, stakeholders and to the community as a whole.

Further developments will be communicated in due course.

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