11th Bipartite Settlement is due from 1st November 2017. Charter of demand for 11th Bipartite Settlement has been submitted jointly by AIBOC, AIBOA, INBOC & NOBO. Charter of demand will be the basis for discussions and negotiations for finalizing the salaries, benefits and other matters concerning bank employees 11th bipartite settlement.
Basis for Demands
The process of wage revision must be an sincere attempt to offer the replies to the primary questions flashed which are listed as follows:
- Whether the compensation system is scientifically designed match these developments witnessed in the industry?
- Whether the compensation ensures the officers to lead a decent quality of life?
- Whether the compensation syncs with the academic qualification at the outset and the risk, responsibility, accountability and transferability an officer encounters in the working atmosphere?
- Whether the compensation generates the sense of pride and belongingness towards the job entrusted and the Institution employed? Whether the compensation generates the confidence on the future?
As the Pay Commission has adopted the principles to draw the wage structure taking into account the salary structure of different sectors including the private sector and the same has been accepted by GOI for implementation, the same principles have to be followed by and for the Banking sector also.
Thus we shall also follow the principles of 7th pay commission in fixing minimum salary, of course to be calculated as on 1 November. 2017 after adding the cushion discounted by the pay commission to the Government employees for the “STATUS” they enjoyed and also after adding the additional cushion for the RISK, RESPONSIBILITY, TRANSFERABILITY AND ACCOUNTABILITY the bank officers are subjected to, in the same ratio fixed between the employees and officers, deleting the very concept of special pay caused grave injustice to the retired/retiring officers who laid strong edifice to the ever strong Indian banking sector.
We have to take into account the inflation projected for Nov,17.
The remuneration package of the Bank officers needs to be framed in such a manner:
- That officers would feel that they are valued and fairly paid considering their work load and undertaking of enormous risks and responsibilities.
- They should be treated at par with Government officials and PSU officers.
- As stated in the 7 Pay Commission Report the status of an officer in the society should also be taken into account while fixing the salary.
- Remuneration of officers is an important element of proactive functioning in Banks in this era of competitive scrimmage and their commitment, dedication and hard labour towards the progress of the economy of the country.