Wage Revision of banks employees’ is done through bipartite settlement between UFBU and IBA. 11th bipartite settlement is due from 1st November 2017. Government of Indian has already written a letter followed by a reminder to complete the negotiation process to meet the timelines of 11th bipartite settlement date which is 1st November 2017. After the followup from Government, UFBU has submitted the Charter of Demand for 11th bipartite settlement.
But after that, there is no significant development and there seems no chances of bankers would get their salaries increased on time.
If you look into past trend, it clearly shows that salary revision of bank employees in India are always delayed and salary revision never happen on schedule time. We have complied the data about how much the previous bank wage revisions were delayed. Keeping in mind the past trend, you can guess the actual 11th bipartite settlement date.
|Due Date||Actual Date||Delay|
|1st Bipartite settlement||1.01.1966||19.10.1966||9 months|
|2nd Bipartite settlement||1.01.1970||12.10.1970||9 months|
|3rd Bipartite settlement||1.09.1978||1.08.1979||11 months|
|4th Bipartite settlement||1.09.1982||17.09.1984||24 months|
|5th Bipartite settlement||1.07.1987||10.04.1989||21 months|
|6th Bipartite settlement||1.11.1992||14.02.1995||28 months|
|7th Bipartite settlement||1.11.1997||27.03.2000||29 months|
|8th Bipartite settlement||1.11.2002||02.06.2005||32 months|
|9th Bipartite settlement||1.11.2007||27.04.2010||30 months|
|10th Bipartite settlement||1.11.2012||25.05.2015||30 months|
The trend shows that last 5 bipartite settlement wage revisions were were delayed by around 30 months.
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During the 10th Bipartite Settlement, there were 20 rounds of negotiations with IBA before final settlement. For next wage revision (11th bipartite settlement), which is due on 01.11.2012, 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.
The good sign for 11th bipartite settlement is that the NDA government is positive about this, which is evident from the already two letters written by DFS to IBA and bank unions to start the negotiation process and implement the same within time. But it is to be seen that what hike government will offer and where our unions will settle.
What are your expectations? Give your views in commend box below.