Bipartite Settlement Dates — Complete List: 1st to 13th BPS (1966–2027)
Every five years, the Indian Banks’ Association (IBA) and bank employee unions negotiate a new Bipartite Settlement — the agreement that determines wages, allowances, and service conditions for lakhs of public sector bank employees. Since the first settlement in 1966, India has had twelve completed settlements. The thirteenth is currently under negotiation, with an effective date of 1 November 2027.
All Bipartite Settlement Dates — Complete Table
The table below lists every bipartite settlement from the 1st (1966) to the 13th (ongoing), with signing date, effective date, and wage revision on total payslip cost where confirmed.
| Settlement | Signing Date | Effective From | Valid Until | Wage Revision |
|---|---|---|---|---|
| 1st BPS | 16 Oct 1966 | 1966 | ~1970 | — |
| 2nd BPS | 12 Oct 1970 | ~1970 | ~1979 | — |
| 3rd BPS | 1 Aug 1979 | ~1979 | ~1984 | — |
| 4th BPS | 17 Sep 1984 | ~1984 | ~1989 | — |
| 5th BPS | 10 Apr 1989 | ~1989 | ~1995 | — |
| 6th BPS | 14 Feb 1995 | ~1992–95 | ~2000 | — |
| 7th BPS | 27 Mar 2000 | 1 Nov 1997 | 31 Oct 2002 | 12.25% |
| 8th BPS | 2 Jun 2005 | 1 Nov 2002 | 31 Oct 2007 | — |
| 9th BPS | 27 Apr 2010 | 1 Nov 2007 | 31 Oct 2012 | — |
| 10th BPS | 25 May 2015 | 1 Nov 2012 | 31 Oct 2017 | — |
| 11th BPS | 11 Nov 2020 | 1 Nov 2017 | 31 Oct 2022 | 15% |
| 12th BPS | 8 Mar 2024 | 1 Nov 2022 | 31 Oct 2027 | 17% |
| 13th BPS | Expected by Apr 2027 | 1 Nov 2027 | 31 Oct 2032 | TBA |
How the Bipartite Settlement Cycle Works
A bipartite settlement in Indian banking is negotiated between the IBA (representing bank managements) and the United Forum of Bank Unions (UFBU), which is an umbrella body of nine national bank employee and officer unions. The process is governed by the Industrial Disputes Act, 1947.
From the 7th BPS onwards, every settlement has followed a uniform five-year cycle with 1 November as the effective date. This means:
- The 12th BPS covers November 1, 2022 to October 31, 2027.
- The 13th BPS will cover November 1, 2027 to October 31, 2032.
- Negotiations begin before the due date but are almost always concluded after it — meaning employees receive arrears once the settlement is finally signed.
Why the Signing Date Is Always Later Than the Effective Date
Every settlement in the modern era has been signed months or years after the November 1 effective date. The 8th BPS (effective November 2002) was not signed until June 2005 — a delay of nearly three years. The 11th BPS (effective November 2017) was signed in November 2020 — a three-year gap. The 12th BPS (effective November 2022) broke this trend by being signed in March 2024 — just 16 months later, the fastest conclusion in recent history.
The practical effect: bank employees continue on old pay scales after the due date and receive arrears once the new settlement is signed. For the 12th BPS, arrears from November 2022 to March 2024 were credited to employees after the signing.
12th Bipartite Settlement — Key Facts
The 12th BPS is the current operative settlement. Its key parameters:
- Signed: 8 March 2024
- Effective from: 1 November 2022
- Valid until: 31 October 2027
- Wage revision: 17% on total payslip cost
- Associated Joint Note: 9th Joint Note
- Time to conclude: ~16 months from due date — the fastest in recent history
The 12th BPS also merged Special Allowance into basic pay, revised DA formula slabs, and enhanced HRA in metro centres. For a full breakdown of pay scales and arrear calculation, see the complete 12th Bipartite Settlement guide.
13th Bipartite Settlement — Current Status and Expected Dates
The 13th BPS is the next settlement, currently in its pre-negotiation phase. Key dates to know:
- Due date (effective from): 1 November 2027
- DFS directive issued: 20 April 2026 — the Department of Financial Services directed IBA and all nationalised banks to conclude negotiations within 12 months
- Target signing date: By April 2027 (per DFS mandate)
- Associated Joint Note: Will be 10th Joint Note
- Expected wage revision: Not announced; likely to be debated in 2026–27
This is the first time the government has issued a formal timeline directive before negotiations have even begun — signalling political intent to avoid the multi-year arrears that plagued earlier settlements. For the latest developments, see the 13th Bipartite Settlement: Date, Expected Salary Hike & Latest News.
Delay Pattern Across All Settlements
The table below shows how long after the due date each settlement was actually signed — a metric that directly determines how large the arrears will be.
| Settlement | Due Date | Signing Date | Delay |
|---|---|---|---|
| 8th BPS | 1 Nov 2002 | 2 Jun 2005 | ~31 months |
| 9th BPS | 1 Nov 2007 | 27 Apr 2010 | ~30 months |
| 10th BPS | 1 Nov 2012 | 25 May 2015 | ~30 months |
| 11th BPS | 1 Nov 2017 | 11 Nov 2020 | ~36 months |
| 12th BPS | 1 Nov 2022 | 8 Mar 2024 | ~16 months |
| 13th BPS | 1 Nov 2027 | Target: Apr 2027 | Target: 0 months |
JAIIB Exam — Bipartite Settlement Dates You Must Know
For JAIIB Paper 4 (Banking Industry & HR) and related promotional exams, the following facts are frequently tested:
- Total number of bipartite settlements so far: 12 completed (13th ongoing)
- The 12th BPS is effective from 1 November 2022 and was signed on 8 March 2024
- The 11th BPS wage revision was 15%; the 12th BPS was 17%
- Settlements are negotiated between IBA and UFBU (United Forum of Bank Unions, comprising 9 unions)
- The standard settlement period is five years, with the effective date being 1 November
- Bipartite settlements are governed by the Industrial Disputes Act, 1947
When is the next bipartite settlement due?
The 13th Bipartite Settlement is due from 1 November 2027. The Department of Financial Services issued a directive on 20 April 2026 requiring IBA and nationalised banks to complete negotiations within 12 months — targeting a signing date of approximately April 2027, which would be before the November 2027 effective date for the first time in recent history.
What is the date of the 12th bipartite settlement?
The 12th Bipartite Settlement was signed on 8 March 2024. It is effective from 1 November 2022 and remains valid until 31 October 2027. The wage revision under the 12th BPS is 17% on total payslip cost.
What was the last bipartite settlement date?
The last (most recent) bipartite settlement is the 12th BPS, signed on 8 March 2024. Before that, the 11th BPS was signed on 11 November 2020 with an effective date of 1 November 2017 and a 15% wage revision.
How often do bipartite settlements happen?
Bipartite settlements in Indian banking follow a five-year cycle. Since the 7th BPS, every settlement has been effective from 1 November and covers a five-year period. However, the actual signing date is almost always 2–3 years after the due date due to the length of negotiations — meaning employees receive arrears once the settlement is finally signed.
What is the bipartite settlement due date?
The due date of a bipartite settlement is the date from which it becomes effective — always 1 November in the modern era. The 12th BPS due date was 1 November 2022 (signed March 2024). The 13th BPS due date will be 1 November 2027. The signing date is almost always later than the due date, creating an arrears liability.
How many bipartite settlements have been signed in Indian banking?
As of May 2026, twelve bipartite settlements have been signed in Indian banking — from the 1st BPS in 1966 to the 12th BPS signed on 8 March 2024. The 13th BPS is currently under negotiation and is expected to be effective from 1 November 2027.