11th Bipartite Settlement – Bank Employees New Pay Scale

The Indian Banks’ Association (IBA) on November 11 said it has signed a bipartite settlement with bank unions agreeing a 15 per cent increase in pay slip for bank employees.

Bank Employees Scales of Pay

In modification of Clause 4 of Bipartite Settlement dated 25th May, 2015, with effect from 1st November, 2017 the scales of pay shall be as under: –

Note:

a) Fitment in the new scales of pay shall be on a stage-to-stage basis.

b) There shall be no change in the dates of annual increments because of the fitment.

c) In the case of Ex-servicemen category employees who have joined the Banks on and after 1st November, 2017 up to the date of this Settlement, the fixation/fitment in the pay scales already given/eligible to be given under the Settlement dated 25th May, 2015 shall be refixed as per the provisions of this settlement.

d) All employees belonging to sub-ordinate cadre shall be eligible for one extra increment for passing JAIIB and two increments for passing CAIIB examination w.e.f 1.11.2017

Also Read : 11th Bipartite Settlement on revision of wages of bank employees has been signed today with IBA