12th Bipartite Settlement: Meeting Outcome
Wage revision for bankers is due since November 2022, which is to be finalized through 12th Bipartite Settlement between employees unions and IBA.
To discuss the issues regarding the ongoing salary revision, a meeting between IBA and UFBU was held on 31.08.2023.
UFBU message regarding the outcome of meeting held between UFBU and IBA on 32st August 2023
A round of discussions was held today with the main Negotiating committee of IBA. It is agreed that the settlement will be effective from 1.11.2022 for the next 5 years. It was also agreed that DA upto 8088 points of price index would be merged with basic pay. Other issues were also discussed. Detailed circular follows.