Next 11th Bipartite Settlement Meeting between Bank Union and Indian Banks Association is scheduled to be held on 5th May. Modi Government may gift increase in salary to bank workers keeping in view the upcoming Loksabha Elections. Government has started its efforts to convince angry voters of service class by targeting bankers first. After rounds of meeting between IBA and Bank Unions, the matter of Increase in salary of around 10 lakh bank workers is still pending since November 2017.
Central Government has already written a letter followed by reminder to complete the wage negotiation process by 1st November 2017. But there is no significant development after rounds of bipartite meetings held between IBA and bank unions.
Demand for 25 percent increase in Salary
Bank Unions have demanded for 25 percent increase in salary in earlier meetings held between bank unions and IBA. But Indian Bank Association has not given any hint on what they want to give.
Around 10 Lakh Bankers to get benefits
With the implementation of 11th Bipartite Settlement, around 10 lakh bank employees across the country will get benefited. Government will also get benefits in upcoming Loksabha Elections.
Implementation History of Bipartite Settlement
Looking at the implementation history of bipartite settlement of bank employees, it is clear that salary revision never implemented on time and is being always delayed.
|Due Date||Actual Date||Delay|
|1st Bipartite settlement||0 1/01/1966||19/10/1966||9 months|
|2nd Bipartite settlement||01/01/1970||12/10/1970||9 months|
|3rd Bipartite settlement||01/09/1978||01/08/1979||11 months|
|4th Bipartite settlement||01/09/1982||17/09/1984||24 months|
|5th Bipartite settlement||01/07/1987||10/04/1989||21 months|
|6th Bipartite settlement||01/11/1992||14/02/1995||28 months|
|7th Bipartite settlement||01/11/1997||27/03/2000||29 months|
|8th Bipartite settlement||01/11/2002||02/06/2005||32 months|
|9th Bipartite settlement||01/11/2007||27/04/2010||30 months|
|10th Bipartite settlement||01/11/2012||25/05/2015||30 months|
|11thBipartite settlement||01/11/2017||—||Still pending|
During the previous 10th bipartite settlement , around 20 rounds of wage negotiations meeting with IBA were held before final settlement. Following the above trend of delay in wage revision, you can guess the delay in next wage revision.