12 Bipartite will signed before 31st January 24 with 20% payslip cost and Basic load 6% maximum

15% is the proposed initial Hike Offer of the total Pay Slip Component by IBA in 12th BPS as per last Core Committee Meeting. The load factor on Basic Pay in 10th BPS was 2% after the merger of Basic Pay with DA, in 11th BPS Load Factor on Basic was 2.5% only. So Out of the Proposed 15% pay slip component Hike offered by IBA majority will be in Allowances only. Merger of SPL Allowance with Basic should be done in order to further stop the loss in PF Contribution ultimately to Future Pension Corpus Fund in NPS & OPS as well also Load Factor should be substantially increased instead of peanut offer of 2-2.5% like in 10th & 11th BPS. But Chances are very less as IBA UFBU are notorious and have a past track record of Betrayal with serving Bankers & Retirees.

As per source and expert Sixth Sense: This time also in 12th BPS they will give a hike in Allowances mostly. *Say total in between 18-20% hike in Pay Slip Component maxmimum 20% in payslip total including Load Factor on Basic (4-6%) where maximum vasuc load is 6 % and same will be signed latest by January 2024.