Breakthrough in Bank Wage Settlement talks

The IDBI Bank management and All India IDBI Officers Association have reached a ‘broad consensus’ over the terms of revision of wages pending from 2012. This was the outcome of a meeting between representatives of the Association and Executive Director-HR, IDBI Bank, according sources in the industry.

The bank has agreed to take this forward for further course of action for early implementation of revised pay and allowances for 2012-2017.

The outline of structure and modalities of calculation for the payslip and non-payslip components for Grade A, B and C for the period is more or less clear now. Components include basic pay, dearness allowance, HRA, additional personal allowance (a new component) along with eligible DA and ranking for superannuation benefits.

Others include special allowance along with DA against notional reduction of grade allowance, city compensatory allowance (CCA, being introduced fresh), and restoration of JAIIB/CAIIB additional increments prospectively.

Officers will also be offered conveyance allowance out of gross salary at existing limits by way of reimbursement; telephone reimbursement at existing levels; LFC benefits that matches industry standards; and encashment of ordinary leave and its accrual as applicable in the industry.

The management is also reported to have favoured the proposal for introduction of paternity leave for officers.

1 thought on “Breakthrough in Bank Wage Settlement talks

  1. Kudos to Mr. Ravish Kumar. Thanks to his untiring efforts that IDBI employees will get wage revision wef 2012. Now let us hope early wage revision for bank employees and pension updation like central govt at the earliest.

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