11th Bipartite Settlement – AIBOC Circular

All India Bank Officers’ Confederation (AIBOC) has issued a circular, clarifying the progress made in respect of 11th Bipartite Settlement, which is due to be implemented with effect from 01.11.2017

See: 11th bipartite settlement latest news.

AIBOC advised that the members should ignore the confusion created through social media that there is no progress on 11th bipartite settlement. It says that Confederation has been regularly following up with the Department of Financial Services (DFS) and IBA for immediate initiation of the process of negotiations so that the next Settlement could be made effective from 01.11.2017 i.e. the date when it is due.

“With our follow ups, DFS, Ministry of Finance had already sent three communications on 12.01.2016, 24.08.2016 and 21.10.2016. Since no progress was visible, we once again took up the issue very strongly with DFS, Ministry of Finance, vide our letter dated 20.12.2016, which was hand delivered on the same day. We feel pleasure in informing you that DFS took immediate cognizance of our communication and on the very next day, they have once again directed the Chief Executives of all Public Sector Banks and IBA to expedite the steps to be taken for the next wage revision.” AIBOC clarified through Circular. 

AIBOC circular further stated that “We are sure that this issue will be placed and discussed in the Management Committee Meeting of IBA, which is scheduled to be held on 30th December, 2016. We would also like to inform our members that AIBOC is ready with its ‘Charter of Demands’ and the same has already been discussed in the Executive Committee Meeting of the Confederation held on 6th December, 2016 at Bangalore. All aspirations of our members have been taken care of in the ‘Charter of Demands’. We reassure you all that you will not find us lacking in pursuing this important agenda.”

However, the ‘Charter of Demand for 11th Bipartite Settlement’ has not been shared by AIBOC with the circular.

In the meantime, Vinod Rai, the BBB Chief has said that Bankers may get Attractive Pay Packages. But there are also news that SBI and PNB may move out from 11th Bipartite Settlement.

You may like to see how much time all the bipartite settlements took in past.

AIBOC Circular is attached

Leave your comments below.