Last Updated on October 24, 2020 by Divanshu Mehta
11th Bipartite settlement development update: In the ongoing negotiation between Government and UFBU (United Forum Of Bank Unions), Government has announced that they will increase 15% in the salaries of public sector banks employees but UFBU had demanded more, they had demanded 20% hike in salaries. Anyway, the public sector banks employees will get 15% increment in their salaries in the future.
But the negotiation is still in process because decisions on the other demands of the United Forum Of Bank Unions has to be taken yet. I have explained in details about the demands of 11th Bipartite Settlement Development in this blog.
What Is Bipartite Settlement?
Bipartite settlement is a process of wage revision between Government and banks employees of public sector banks. IBA (Indian Bank Association) negotiates from Government side and UFBU (United Forum Of Bank Unions) negotiates from the side of bank employees. Bipartite settlement takes place every 5 years. UFBU represents their demands to the IBA in this process and after that they negotiate between each other, so that they can get best conclusion which will suit both the Government and the bank employees of public sector banks.
The current bipartite settlement is 11th Bipartite Settlement Development. The previous one was 10th Bipartite settlement, which was due in November 2012. After almost 3 years of negotiation, it got signed by UFBU (United Forum Of Bank Unions) and IBA (Indian Bank Association) in May 2015.
11th Bipartite Settlement Development
11th Bipartite Settlement Development is due from November 2017 and still it doesn’t get signed yet. IBA and UFBU are still negotiating the demands. But recently Government has announced that they are ready to increment 15% in the salaries of the bank employees in response to 20% increment demanded by UFBU. There are a lot of demands that are still in the process of negotiation. It has been 2.5 years since the start of this process and it is still in the negotiation process.
The 10th Bipartite settlement had taken 3 years to get signed. So 11th Bipartite Settlement Development can also take 3 years. There is no confirmed date that when this settlement will get signed. Due to the spread of coronavirus this process has been delayed a lot. Because of lockdowns, the meetings of this conversation is getting delayed. There is no confirmation date about the meetings as well. Let’ hope that 11th Bipartite Settlement will get signed in this year.
Demands By UFBU
These are some of the demands represented to the Government by UFBU –
- 20% hike in the salaries of bank employees of public sector banks.
- Weekends off only 5 days banking.
- No work out of working hours.
- A proper definition of lunch hours, business hours, etc in the banks.
- Special allowance and basic pay should get merged.
- Increase in the family pension.
- NPS (New Pension Scheme) should get scraped.
- Introduction to leave bank.
- Staff welfare fund based on operating profits should get allocated.
- Same wage for same work for contract employees.
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