Bank Wage Settlement- Latest Updates

A small committee meeting of Officers’Associations with IBA was held today at IBA Office, World Trade Centre, Cuffe Parade, Mumbai at 10-30 AM. The IBA team was led by Shri Prashant Kumar(DMD, SBI), Shri B. Ashok(GM, CBI), Shri Ujjwal Kumar(GM, UCO Bank), Shri LVR Prasad(GM, Canara Bank), Shri Raj Kiran Bhoir(GM, Bank of Maharashtra), Shri B Rajkumar(Dy C.E.O IBA)), Shri S.K. Kakkar(Sr. Vice President, HR & lR, IBA), Shri K.S. Chauhan, Advisor (HR & lR) and other officials of HR Dept. lBA. The four Officer organizations were represented by Com. Dilip Saha, Com Soumya Datta(AIBOC), Com S Nagarajan(AIBOA), Com K.K. Nair(INBOC) and Com. V Tikekar(NOBO) in the discussion.

On our charter of Demands containing both ” Monetary and Non- Monetary” issues, elaborate discussions were held. On matters of issues having linkage of financial bearings, no finality could be arrived at in this meeting. However, on certain issues, they have agreed to place the issues before HR Committee of IBA for appropriate finalization. The IBA has responded positively to our request for convening an exclusive meeting on “Discipline and Appeal Regulations”. On certain issues, notes are to be submitted by us within a time bound manner preferably in a week’s time. We shall provide updates on further development.


Core committee of award staff unions and IBA under the chairmanship of G Rajkiran Rai MD Union Bank concluded today on 18.08.18 at IBA hall Mumbai. Deatails of the issues agreed. Revised DA Formula and improvements in compensation against price rise, UFBU will submit a details note.

Regarding HRA reimbursement: On producing rent receipt which will come under load factor.  Increase in Transport Allowance:-–- Substantial increase

Leave matters: CL no increase. PL:— Other than LFC 10 days notice required. SL:— Over 30yrs 30 days per yr maxm 720 days. Sick leave may be granted to women employees to look after sickness of a child below 8 yrs. Over and above maternity leave another 2 months to be given to cover cases of hysterectomy wherein maternity leave is already exhausted. Paternity leave will be granted for child adoption. Extraordinary leave will be permitted up to 120 days. It is agreed to give detailed notes on Leave Bank.

Improvement in LFC: For clerical 4400/2200kms actual travel. For Substaff 5100/2550kms actual travel. Road mileage charges 8/- kms in place of 6/-kms. Sight seeing and local charges will be paid by the Bank within overall limit. GST will also be reimbursed. Train fare of Rajdhani and Shatabdi will be reimbursed.

DA link Pension:- Service charges livied on employees under NPS will be borne by the Bank.

Dependent Income:- It is agreed to Rs 12000/-in place of Rs.10000/-pm.

Improvement in other allowance – Substantial increase (around 15%)in cycle washing and other allowances.

New Allowance Introduced:- Lodging allowance in which amount will cover later.

Deployment policy- It is agreed for Rs 600 pm. In other like subatical leave , Gratuity ,Annual Medical ,Pension ,Family pension will be discussed in main negotiating committee. Some of the issues like 5 days banking, PH issues , All area allowances, Absorption of temporary  workers will follow govt guidelines.

Next full negotiating committee will meet in the first week of Sept 2018 .

6 thoughts on “Bank Wage Settlement- Latest Updates

  1. Will the settlement discussion cover bank pensioners’ issues/ demands like pension updation 100% DA nuetralisation increasing Family Pension etc. ? IBA AND GOVT. should settle pensioners issues which are pending for over 20 years
    Otherwise the IBA AND GOVT and UNIONS engaged in BPS will incure anger of Bank pensioners which will be very detrimental for them in their all endeavours. Niyati will punish them ie the individuals involved and this punishment will not be restricted to the individuals concerned but also be for their relatives and future generations The old pensioners aged above 75 years are the most affected due their being no improvement in Pension scheme for last more than 20 years

    1. Yes but where are those moral standards unless u the ten that every retired employee goes to a choose n place where he has worked and canvass against then 3 lakh retirees voices will be heard other wise U F B U will not bother to fight u r cause instead they will sign on issues against u as they have done in 10th bipartite where special allowance was made in eligible for superannuation benefits

    2. pension issues take the last item in agenda, and never fruitful, as the union has never ever considered the plight of old pensioners, and some of them living in total ignominy , due to lack of funds for a days square meal’

      This is written inspite of settlement of pension arrears, where in 30% of the pension credited was taken away, with remorse.

  2. It is sad to note the bankemployees and are not treated c/g employees eventhough they work for the c/govt.all the instructions, guidelines are issued by m o f. Entire working of the banks are closely watched by banking division of the finance ministry.further pension is paid by pension funds why the ministry is not looking into the demands of retirees
    The existence of i b a is the root cause.if that is so why m o f ‘s banking division directly look into the problems of upgradation,family pension, disparity of d a rates etc.

    We should demand handling of retirees matters by banking dn/m o r as i b a clsims they have no mandate from member banks
    Let retirees unions sit together and find a solution if need b thro intervention by s c

  3. Bank pensioners MUST NOT RELY on CORRUPT POLITICIANS.They have different laws for their benifit but NO laws for REST of the citizens.

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