When is the 12th bipartite wage settlement due?
The 12th Bipartite wage settlement is due on 01.11.2022. The salary and other wage components of public sector banks and some private sector banks shall be decided after discussion between UFBU and IBA under 12BPS. The discussions generally last for 2 to 3 years after which the bankers are paid increased salaries along with arrears.
What was the IBA’s offer in 10th bipartite settlement?
We informed the IBA that in the 10th Bipartite settlement, there was increase of 15% hike in wage bill and hence this offer of IBA is highly disappointing and totally unacceptable even as an initial offer.
Is IBA offering 2% hike over the total wage bill?
However, IBA informed that looking to the present position of the Banks, there are constraints on their part and hence made their initial offer of 2% hike over the total Wage Bill as on 31-3-2017.