Bank Wages Revision: Bipartite talks with IBA and Moving towards final settlement
Bank Wages Revision: Bipartite meeting and Moving towards final settlement: Special Pay, Fixed Personal Pay, HRA, Medical Aid, etc. are being finalised AIBEA Circular Dt 2 Nov 2020
ALL INDIA BANK EMPLOYEES’ ASSOCIATION
Central Office: “PRABHAT NIVAS” Regn. No.2037
Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001
CIRCULAR NO. 28/248/2020/86
TO ALL UNITS AND MEMBERS:
- BIPARTITE TALKS WITH IBA ON 31-10-2020
- MOVING TOWARDS FINAL SETTLEMENT
We reproduce herein the text of the Circular Jointly issued by AIBEA-NCBE-NOBW-INBEF on the outcome of the discussions with IBA held at Mumbai on 31-10-2020.
As would be observed from this joint communication, revised pay scales have been worked out as under.
Issues like PQP, Special Pay, Fixed Personal Pay, HRA, Medical Aid, etc. are being finalised.
- There would be 9 stagnation increments for both clerical and substaff at an interval of 2 years each.
- DA rate would be 0.07% per slab of 4 points over 6352 points of Index.
- HRA rate would be uniform for all centres Al over the country as against existing 3 different rates.
- DA will be payable on Special Allowance and Transport Allowance.
- Revision in duties/ powers and quantum of allowance of Special Pay posts are being worked out.
In view of all these issues nearing finality, stage is now set for the final settlement at the earliest. Already fake news in the name of AIBEA, false news, half-baked news, speculative news, etc. are active in the market. Other impediments are also being created. Hence all our units and members are cautioned not to be misled by all these attempts. Maintain unity and calmness. We cannot afford to divert our attention at this stage.