About Bank Bipartite Settlement 2013 And Wage Revision
Date: 17 Aug 2013
Latest news coming from the Banking Associations is the new banking policy and settlement in 2013 or next year. In next bank bipartite settlement it is also state for wage revision for bank employees. As mentioned in 10th bank bipartite settlement, wage revision is expected in 2013 or 2014.
What will be the revised wage for Bank employees and other facilities?
Wondering about what is the 10th bank bipartite settlement? Looking for details about wage revisions and their effects on your salary and effects on other facilities? Ask our Government and policies experts in ISC for precise details.
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19 Aug 2013 Member Level:
Points : 6 (
Traditionally there is negotiated wage revision between the apex unions and the apex organisation of Bank managements once in every five years. But practically due to various reasons these get deferred and prolonged. Hence things do not happen exactly on dot on end of five years.
The current settlement was due in Nov 2012. Only some preliminary discussions are over. In a settlement both sides keep certain demands. Then they arrive at some common agreements and settlement. Some of the issues remain and will be taken up in the next settlement. So there are some residual issues from the previous settlement also.
Generaly wage settlements consider merging of the a certain portion of the DA with Basic PAy. This is because it is clear that prices will not fall below that level index. By adding the DA portion to Basic Pay, al the other benefits linkedto Basic Pay may have to be reworked. This may need much time for calculation and recalculation and to arrive at an acceptable formula. However in the net, employes will like to have an overall increase in their monthly pay and terminal benefits.
So first there will be a rough agreement on the final net increase as to 10 , 15% or more. The bargaining and negotiation will be more in this. Once that is agreed, then it is only a re arrangement of fitting the increase.
After that some other issues regarding other service conditions are taken up.
All the while the different cadres will like to have their internal and external parity in these mates.
However as the banking industry is facing crunch of experienced personnel now after retirement and VRS, there is an expectation that this time the settlement will be more positive and favoutable than the earlier ones. Best Wishes to the bank employes.
04 Sep 2013 Member Level:
Points : 6 (
Wage Revision of the Bank Pay scales takes place every five years. During every wage revision the major issues are merger of DA into basic pay as due to inflation CPI goes on increasing and bank employees salary increases or even decreases every three months based CPI. While whole increase in DA due to inflation is not increased but the bank employees get compensated for inflation to some %age of increase in Price Index of essential commodities. Bank employees do not get any big hike as annual increment but the resultant increase due to increase in DA every quarter adds good amount to their salary. The annual increase is just the cost of inflation and devaluation of rupee.
At the time of bipartite settlement what is done is that part of DA is merged with Basic Pay to increase the Pay Scales and Basic Pay attracts Provident Fund, DA as per new factor decided during wage settlement, HRA, supper annuation benefits get increased as they are directly linked to Basic Pay. Pension gets increased. Now the wage revision is due with effect from 01.11.2012 which will be valid up to 31.10.2017. Major Demands included:
1. No income tax on DA which is given to compensate the increase in price index and that too is not provided 100%.
2. Basic Pay of Pensioners is not revised as per new settlements and the retirees prior to say 1991 (in their age group 80 years) continue to receive meager
pension and leading miserable life while they put it best of their lives in serving the nation.
3. Merger of DA with Basic and change in Pay Scales accordingly.
For rest of demands go through the charter of demands put by various banking unions. State Bank of India and RBI enjoy special status in Pay Scales.
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