Bank Wage Revision Latest News 2017

In this Post, we are updating all the latest development regarding bank wage revision 2017. 11th bipartite settlement latest news
11th bipartite settlement expected pay scales.

BROAD SUMMARY FO CHARTER OF DEMANDS FOR 11TH BIPARTITE SETTLEMENT.

Download and Read CD 2017 final Bank Wage Revision 2017 Latest News Update  

1. Revision and improvement in Pay Scales by the merger of Dearness Allowance up to October 2017 and with additional loading thereon.
2. Merging Special Allowance with Basic pay
3. Improvements in Special Pay, PQP, FPP and Stagnation Increment
4. Revised DA formula and improvement in compensation against price rise.
5. Provision of housing accommodation for all clerical and sub-staff and payment of HRA on the lines of officers.
6. Introduction of Education Allowance
7. Substantial increase in Transport Allowance
8. Improvements in leave benefits and LFC entitlement
9. Increase in Annual Medical allowance and improvement in Medical Insurance Scheme.
10. Bonus for all employees without any ceiling
11. Removal of ceiling Gratuity under the Gratuity Act.
12. Total exemption from Income tax on entire retirement benefits
13. DA linked Assured pension scheme in lieu of NPS
14. Improvement in pension scheme on the lines of Government scheme
15. Follow-up of the issues covered by Record Note dated 25-5-2015
16. Introduction of 5 Day banking service
17. Improvement in Special Area Allowance and special compensatory provisions for North East and Jammu
18. Regular banking jobs and services not to be outsourced and all existing contract employees to be regularized and absorbed
19. Adequate recruitment of clerical and sub staff in all Banks
20. Implementation of Supreme Court order on equal wage for equal work for existing temporary and contract employees.
21. Proper implementation of compassionate ground appointment scheme
22. All part-time employees to be converted as full-time employees
23. Improvement in Other Allowances and other service conditions
24. Special provisions for women employees on the lines of 7th Pay Commission recommendations.
25. Uniform guidelines on fitment for Ex-servicemen joining the Banks

 

Allowance
EXISTING
REVISED
D. A.
0.10% per slab on the pre-revised basic pay
0.07% per slab on the revised basic pay
H.R.A.
7%/ 8%/ 9% of the present basic pay depending on the population group
7% to 12% of the revised basic pay depending on the revised classification of the centres   (please see attachment for further details), without any ceiling
C.C.A.
3% for lower CCA centres and 4% for higher CCA centres with a maximum of Rs.600 and Rs.870 respectively.
5%  to 8% of the revised basic pay depending on the revised classification of the centres  (please see attachment for further details), without any ceiling
PQP – 1
Rs.670
Equal to one increment in the last stage of the scale
PQP – 2
Rs.1,680
Equal to 2 increments in the last stage of the scale
FPP
In case of FPP, the current FPP is protected and on promotion to the next higher grade/scale only, on reaching the maximum of the scale, FPP equivalent to the last increment in the scale is granted with DA thereon, basing on the index prevailing at the beginning of the settlement period (01-11-2012).
This will remain frozen till the settlement period ends.
FPP is proposed to be fixed at the amount equal to the previous increment drawn plus DA thereon, basing on the index prevailing at the beginning of the settlement period (01-11-2012). This way, the anomaly in FPP will vanish.
On reaching the maximum of the scale, FPP equal to one increment in the last stage of the revised scale plus DA (as on 01-11-2012) thereon is granted.  This will remain frozen till the settlement period ends.
Medical Aid
Up to MMGS III –          Rs.8,000
SMGS IV and above – Rs.9,050
Up to MMGS III          – Rs.12,000
SMGS IV and above – Rs.15,000
LFC – Home Town
Frequency – Once in the sub-block of 2 years, in the main block of every 4 years.  Effectively, it is once every 4 years only.  Distance – There is no restriction on the distance between the present place of work and the hometown.
If the distance between the place of work and the hometown is 500 KMs and above, hometown LFC is permitted every year.
Otherwise, no hometown LFC is allowed.
LFC –Anywhere in India
Distance – Without restriction on the distance, any place in India can be reached by the shortest route and eligible mode of travel. But, the place of destination must be mentioned beforehand and such place must be touched, even if a roundabout journey is undertaken.(Reimbursement will however be restricted to the distance by the shortest railway route by the eligible class).
4500 KMs one way for officers up to MMGS III and 6000 KMs one way for SMGS IV and above(It is not compulsory to touch the intended destination). 
 
Circuitous journey is also allowed within the overall distance (both ways) of 9000 KMs/12000 KMs as the case may be. Within the overall eligibility, expenditure on travel to foreign countries may also be reimbursed, provided proper proof is submitted.
Halting Allowance
Up to MMGS III –
Rs.800/Rs.950/Rs.1,100/Rs.1,300
SMGS IV & SMGS V –
Rs.950/Rs.1,100/Rs.1,300/Rs.1,500
TEGS VI & TEGS VII –
Rs.950/Rs.1,100/Rs.1,300/Rs.1,800
Up to MMGS III –
Rs.1,000/Rs.1,200/Rs.1,400/Rs.1,600
SMGS IV & SMGS V –
Rs.1,200/Rs.1,400/Rs.1,600/Rs.1,800
TEGS VI & TEGS VII –
Rs.1,200/Rs.1,400/Rs.1,600/Rs.2,000
Split Duty Allowance
Rs.200 per month
Rs.400 per month.

ALL INDIA BANK EMPLOYEES’ ASSOCIATION ( AIBEA), NATIONAL CONFEDERATION OF BANK EMPLOYEES (NCBE), BANK EMPLOYEES FEDERATION OF INDIA (BEFI), INDIAN NATIONAL BANK EMPLOYEES FEDRATON (INBEF), NATIONAL ORGANISATION OF BANK WORKERS (NOBW)

To
Chairman,
Indian Banks’ Association
Mumbai
Dear Sir,
You are aware that the period of the current 10th Bipartite Settlement would come to end by October 2017 and a revised Settlement needs to arrive at w.e.f. 1-11-2017. We learn that the Government has given their guidelines to IBA and Banks to complete the process of negotiations well in time to commence the new Settlement from November 2017.
We welcome this but this would be possible only if the negotiations are commenced by IBA well in time. In view of this, we submit herein the broad summary of the common demands to be negotiated and to arrive at the 11th Bipartite Settlement. (Annexure I)
The full details of all these demands would be submitted shortly and well before the negotiations would begin.
We request the IBA to immediately start the process of negotiations so that we shall be able to complete the process and conclude the Settlement in advance.

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