11th BPS Bipartite Settlement Wage Revision 3 October Meeting Update : On 3rd Oct 2017, one more round of Meeting of the Core Group (Workmen) took place on 11th Bipartite Settlement.

11th Bipartite Settlement Wage Revision : Meeting Updates

The meeting was purely for Non – Financial Issues.

Demands Discussed in 11th BPS 3 October Meeting :

  1. Increase in T.A. / Reimbursement of Petrol Cost : IBA says ‘different Banks have their own different Schemes.’ Unions should take up this issue with individual Banks.
  2. Voluntary Cessation of Service : Union wants deletion of these provisions. IBA said they will discuss this issue internally. No decision taken on this issue today.
  3. Better Compensation on Transfer on Deployment Policy : At present it is Rs. 400 pm. Discussion to continue.
  4. Expenses while on Transfers : Enhancement will be considered at the time of final Financial Package.
  5. Improvements in Medical Insurance Scheme : These issues will be discussed during exclusive meeting on this matter on Friday, 06 th October, 2017 at 3 pm.
  6. Bonus for all employees without any ceiling : Bonus is paid as per Payment of Bonus Act. So IBA expressed it’s inability to accept this demand.
  7. Staff Loans : For all types of Staff Loans individual Banks are having different Schemes. IBA can’t interfere. But IBA may “request” Banks to consider One full month’s salary as Festival Advance.
  8. Uniform Guidelines on Fitment for Ex – Servicemen : IBA to take up this matter with Govt of India.
  9. Physically Challenged / Differently Abled Employees :
    a. IBA may consider positively demand for Revision of Conveyance Allowance paid to these employees.
    b. Tentatively it is accepted that married handicapped daughter irrespective of age to be defined as Dependent if she fulfills criteria for “dependent”  income wise.
  10. Revision in Criteria / Ceiling of Dependents’ Income : Discussion to continue. But IBA gave positive signal.

Also ReadExpected DA increase for bankers for Nov 2017 to Jan 2018

Next Round of 11th BPS Wage Revision Meeting Update : 

There will be one more meeting of Core Group (Workmen) on 24 th October, 2017 at 11.30 am.

*Full Committee may meet on 30 th October, 2017. IBA to inform us about this.

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Also Read : 11th BPS Wage Revision Talk : No Offer on Salary Rise by IBA


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