11th IBA Meeting - 30-11-2018 Latest Updates


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Friday, 30 November 2018

IBA Meeting - 30-11-2018 Latest Updates

11th Bipartite Wage Revision meeting is going on with various Bank's Union. As far as the updates are concerned, AIBOC has boycotted the meeting siting the non acceptance of salary hike offered.

Calculate - Your Salary with 8% Hike

1. IBA has offered a salary hike of 8% from earlier 6% on payslip.
2. IBA is insisting on bipartite settlement up to Scale III only
3.Variable pay to employees of such banks as suggested during earlier rounds of negotiations. 

4. Accordingly the Best performing bank's employees will receive 8.2% additional variable pay. Thus wage hike will be 16.2% for it's employees. 

5. All Banks will get fixed wage hike of 8% on pay slip. 

6. Unions declined proposal of 8% hike on pay slip with the reason that getting 8% wage hike after gap of 5 years is not acceptable. 

7. Unions made it clear to IBA that they are not against rewarding employees as per performance of Banks. But it should not be part of Wage Settlement. Present system of same wages in all banks should continue. O

8. Officers' Unions objected to negotiations only for upto scale III. They wanted scale IV to VII also to be included as was done so far. 

Union boycotted the meeting in protest. IBA made it's intentions of "full Co operation for early settlement" clear. 

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