11th Bipartite Wage Revision - the outcome of latest round of meeting between UFBU and IBA is concluded on 5th Dec 2019. Though as like earlier meetings, no concrete solution comes out but IBA agreed on the settlement with 12% hike.
UFBU had demanded for the higher percentage of hike i.e. 15% but IBA is rigid on their previous stand of 12% hike. IBA has also informed that they found it difficult in any further increase due to many constraints like lesser profitability, higher NPA and other reasons.
IBA had stated very clearly that they would not consider any further hike on salary above 12%.
