IBA Agrees on 5 Days Banking in Public Sector Banks

Finally Indian Bank's Association (IBA) agrees on 5 day working in the Public Sector Banks as per the recent meeting with DFS. As per the information provided by the bankers' Union member who is involved with the settlement

5 days banking agreed by DFS & FM but Home Ministry and some other deptt. approval is awaited.

This is also partially confirmed that this may be implemented immediately.

Read - 11th Bipartite Wage Settlement will be finalized by 30th Sept

A draft plan-out is worked, which is needed the various other permissions majorly security concern as  the office business/customer hours extended till defined time. 

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There is final round of meeting to be held on 28th & 29th Sept 2019 between all the Bankers Union and IBA.

IBA is also agreed on increasing the salary for bankers from existing 12%  to 15% with PLI of 4.50%. 

IBA may agree on 15% salary hike with 5 days banking for Bankers.

Probably 11th Bipartite salary will be settled before Diwali this year.