11th BPS Arrears Payment - Finally good news for the bank employees, as the government clears the node for payment of arrears of 11th Bipartite Settlement before Dec 10, Bank unions and Indian Bankers' Association (IBA) signed a bipartite wage settlement with 15% hike.
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Bank employees were expecting to get their arrears before Diwali but now the official notification has been issued by the finance ministry to pay the said arrears before 10th Dec 2020.
Also Read - 11th BPS Arrears Calculator – All Banks
As per the guidelines :
All accumulated arrears along with increments during this period shall be released with effect from Nov 11.
Earlier a statement issued by the EBI stated that the First time in the history of Public Sector Bank, the performance linked wage structure is introduced.
Also Read - Clarification - 11th BPS Arrears, Gratuity/Pension Payment For Employees Retired Between 2017-20
For details check the 06th Dec 2020 Paper : The Tribune
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11th Bipartite