Outcome of IBA Meeting on 12th Bipartite Settlement | Next IBA meeting Date

Last Updated on September 7, 2023 by Brajesh

12th Bipartite Settlement i.e. wage revision of bank employees is due from 1st November 2022. In this process Bank Union was suppose to meet with Indian Bank Association on 31st August 2023 to discuss on 12th Bipartite Settlement. Here we will know about the outcome of this meeting held on 31st August 2023 between IBA & Bank Unions. We will also look at the next date of meeting between Bank Union and Indian Bank Association

Meeting on 12th Bipartite Settlement

Two rounds of meeting were held, one among Bank union themselves on 30th August 2023 and one between Indian Bank Association(IBA) with Bank Unions on 31st August 2023.

All bankers were eagerly waiting for some positive news from the outcome of IBA Meeting with Union. It was expected that there should be some updates on 5 Days Banking a week & most importantly tentative date of 12th Bipartite Settlement i.e. wage revision of Bank employees.

Outcome of IBA Meeting

Indian Bank Association has agreed for 12th Bipartite Settlement effective from 1st November 2022 for next five years. Outcome of IBA meeting is shared by CH Venkatachalam, General Secretary-AIBEA on social media X (Formerly known as Twitter). Further he also stated that It was also agreed that DA up to 8088 points of price index would be merged with basic pay. Apart from this other issue were also discussed which will be shared through circular.

Banker’s reaction

Now most of the bankers have reacted to the updates shared by General Secretary through his social media account. On effective date of 12th Bipartite settlement implementation,   people reacted by saying that there was no need to mention this as it was very obvious that 12th Bipartite Settlement will be effective from 1st November 2022.

On second update of merger of 8088 points in basic, banker employees were disappointed with this numbers as they were expecting a merger of higher points in basic (Up to 8576 Points).

Delay in Bipartite Settlement

12th Bipartite Settlement was due from 1st November 2022 which means a delay of 304 days has already been experienced by Public sector bank employees. It is expected that latest by 1st December 2023,12th Bipartite settlement will be completed by Union and IBA as already Finance Minister has instructed the Association to make this settlement on or before 1st December 2023 in a time bound manner.

12th Bipartite Settlement
12th Bipartite Settlement

The early wage revision will help to increase the productivity and infuse positive motivation in bank employees.

11th Bipartite settlement update

In last wage revision i.e.11th Bipartite settlement, IBA and Bank unions have agreed on revision of 15 percent in bank employees pay slip. Last agreement was signed on 11th November 2020 which was effective for 5 years from 2017 to 2022.

Apart from this a bank employees were warded with additional incentive which was termed as Performance Linked Incentive (Known as PLI) based on annual operating profit of the banks.

Next date of Meeting on 12th Bipartite Settlement

All India Bank Employee Association has informed on their social media platform that next date of meeting on 12th Bipartite Settlement will be held on 12th September 2023 and this will be a small committee meeting.

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Charter of demands

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