11th Bipartite Settlement (Bank Wage Revision) is due on 1st November 2017. Government had already written to Banks and IBA on 12.01.2016. Despite the initiative taken by Finance Ministry, there is no progress shown by Bank employee Bank employees unions and officers associations on issue of 11th Bipartite Settlement. Public sector banks have failed to submit their demands for the next bank employees wage revision.
Ministry of Finance, Department of Financial Services issued reminder on 24.08.2016 to all Public Sector banks to intimate the present status/ action taken to conclude the negotiations. DFS has asked banks to submit their demand so all formalities can be completed well before 01.11.2017.
The government wants to get the 11th bipartite settlement concluded within time but may not allow much hike. But now its upto bank employee unions and officer associations, how well they are prepared and how well and how early they come forward with their demands.