IBA Offers - Annual Increment Scheme for Bank Employees

Indian Bankers' Association (IBA) has offered salary structure with annual increment for Public Sector Bank Employees. 

This was discussed as the main agenda in the meeting recently held between Banks' Union and IBA on 29th Sept 2018 for 11th Bipartite Wage Revision.

The Agenda which was discussed under "Annual Increment" :

Read - 11th Bipartite Wage Revision - Minutes of Meeting Held on 29th September 2018

1. 6% hike will be given to all the employees irrespective of performance of bank

2. Annual Increment will be given under Performance Based Salary structure scheme

3. The Annual Increment component will be given on the basis of different categories of banks.

4. The categories of the bank will be defined on the parameters like Profitability & Return on Assets (ROA).

5. The annual increament could be as high as 8.2 % with minimum hike of 1.4%.

6.  The payout will be made on the basis of establishment costs of the banks on days basis as like 30 days, 25 days etc.

The UFBU has not accepted the offer yet and insisted on increase in fixed component i.e. 6%. 

Banker's Feedback is must on this !!!