After a long wait, a huge increase in the salaries of bank employees and many other demands including banking five days a week have been accepted. Indian Bank Association and All India Bank Association have signed the agreement, soon this proposal will be sent to the government, on which a decision will be taken within six months.
Bank Employees 5 Day Working/ Salary Hike: There is good news for lakhs of government bank employees across the country. Soon, bank employees will get the benefit of 2 days leave in a week and 17% increase in salary, because the Indian Bank Association and the Bank Union have agreed on an annual increase of 17 percent in salary and a memorandum of understanding has been signed. Salary increase and other facilities have been implemented with immediate effect. Their benefits will be available from November 1, 2022. But the proposal to amend the working hours will be effective after the notification of the government.
The matter was stuck for a long time, now a consensus has been reached
- In fact, last year the Indian Banks Association (IBA) had proposed a salary increase of 15 to 20% for government employees. Since the existing wage agreement between Public Sector Banks (PSBs) and IBA has expired on November 1, 2022. According to the Memorandum of Understanding (MOU) signed between the Indian Banks Association and the Bank Employees Unions in the year 2023, the salary of the employees should increase by 17% in a period of 5 years with annual increase.
- Since then, talks were going on with the IBA regarding various demands of the banking organization including leave and salary hike for a long time but the final agreement could not be reached. Now IBA has accepted the demands of the bank officers and employees and signed the MoU.
17 percent increase in salary, benefits will be available from November 1, 2022
- After the agreement, the salary of bank employees and officers has increased by 17 percent. He will get a total of Rs 12949 crore more as salary. With this, clerk’s salary will increase from Rs 7 thousand to Rs 30 thousand and officer’s salary will increase from Rs 13 thousand to Rs 50 thousand. This will benefit 9 lakh officers and employees across the country and one lakh officers and employees of Uttar Pradesh. The formula for salary increase DA (Dearness Allowance) has been prepared by including 8088 points and additional weighting.
- Apart from this, people eligible to receive pension on or before October 31, 2022, will be paid a monthly ex-gratia amount in addition to the pension or family pension provided by public sector banks including SBI. Soon the IBA will send a recommendation to the Central Government, which But the final decision will be taken within 6 months.
2 days leave a week, special benefits for women employees
- In the meeting, it was agreed to work for five days a week and two days off, currently there is a holiday in banks on the second and fourth Saturday of the month. Now IBA has accepted the proposal of holiday in banks on all Saturdays of the month. In lieu of this, it is proposed to conduct banking work from 9.50 am to 5.30 pm instead of 10 am to 5 pm. This will be effective on working days only after the notification of the government.
- Women employees have also been given special attention in the new wage agreement. Now women in the bank will be able to take sick leave for one day in a month without any medical certificate. PL up to 255 days can be encashed at the time of retirement or at the time of death of the employee during service.
- Half day casual leave will be given. Women will get one day medical leave in a month without medical certificate and couples with special children will get 30 days special leave.
- Senior staff above 58 years of age will be able to get leave for wife’s illness on the basis of wife’s medical certificate. Encashment of leave was increased from 240 days to 255 days.
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