Home / Opinion / Discussion 60.15% What IBA Agreed for 10th Bipartite Settlement For Bank Employees Wage Revision?

Discussion 60.15% What IBA Agreed for 10th Bipartite Settlement For Bank Employees Wage Revision?

Bank Employees Salary Revision / Hike with Bank PO & Clerk Expected Salary  – Public Sector Bank Employees will have 60.15% increases in Tenth Bipartite Settlement including Bank PO and Clerks salary.

IBA (Indian Banker’s Association) has finalized the boost in Salary as per the rules i.e. merging of Dearness Allowance (DA) – around 4400 CPI (Consumer Price Index) or 401 Slabs for this purpose.

Where 0.15% = One Slab

This new 60.15% Increase in Basic Pay will be effective from the due date of 10th Bipartite Settlement i.e. 1st November 2012.

The Basic Salary at each scale of Bank Officers and Clerical or Non Subordinate staff will increase by 60.15% , Now the fight is for increment on new basic.

Calculation : A Simple Calculation , Take Basic Salary suppose Rs 14500, Take 60.15% of this i.,e. Ra 8,721/- (Approx.) The New Basic would be Rs 14500+8,721 = Rs 23,221

Now at this New basic the demand of further increase of 17.5% to 30%.

Read : What Would Be Expected Salary For New PO and Clerks of Public Sector Banks

Different Unions has had different demand for increase in Salary i.e. demand of 17.5% to 30% increase in Salary.

But really that was the expectation of Bank Employees, Do they really expecting this much? We expect Banker’s opinions 

About raj

CAIIB certified bankers by profession. This blog was started to help individuals from complicated financial and Banking terminologies. Updates on Taxation, Investment Ideas, Mutual Fund and Financial Planning.

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