30 months is the the Average delay in bank wage revision

There were 20 rounds of negotiations during the last BPS and it was delayed by 30 months. For next wage revision (11^th bipartite settlement), which is already due from 1^st November, 2017, charter of demand has been submitted by UFBU but negotiations are going on.

As on date 11^th BPS has already been delayed by 20 months. But do you know, how much time it took in past to get the salary revision by the bankers?

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Since 1966, there have been 10 bipartite settlements so far and to your surprise, it never happened on time. The least time taken for bankers’ salary revision after its due date was 9 months, which was in 1^st and 2^nd BPS.

This delayed timing has been kept on increasing and the 8^th BPS was delayed by as high as 32 months i.e., almost by 4 years.

Average time taken for the ten bipartite settlements happened so far is 23 months, least being 9 months and highest 32 months.

For the last 5 bipartite settlements this delay has been 30 months.

Delays in bipartite settlements so far:

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Bankers were expecting that the NDA government is positive about their wage revision, as two letters were written by DFS to IBA before 1^st November 2017 to start the negotiation process and implement the same within time. But it’s the business as usual and this settlement is also going on the lines of the previous.