Wage Revision of banks employees is done through bipartite settlement between UFBU and IBA. 12th bipartite settlement is due from 1st November 2012. UFBU just submitted charter of demand for the settlement
As such, there is no significant development and there seems no chances of bankers would get their salaries increased on time.
The past trend of bank wage revisions clearly shows that salary revision of bank employees in India are always delayed. The salary revision/ settlements never happen on schedule time.
The trend shows that last 5 bipartite settlement wage revisions were were delayed by around 32 months.
During the 10th Bipartite Settlement, there were 20 rounds of negotiations with IBA before final settlement. For 11th BPS also, large number meetings and rounds of negotiations were held before settlement after 36 months from the due date.
For next wage revision (12th bipartite settlement), which is due on 01.11.2022, negotiations are yet to start, if it follows the past trend, you can understand, what time it is going to take and when it is going to be implemented.
Before the due date of last 11th bipartite settlement DFS had written two letters to IBA and bank unions to start the negotiation process and implement the same within time. Despite that, it took more than 3 years after due date to settle the process in November 2022.
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1 comment:
Year wrong
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