Thursday, January 14, 2016

Ministry of Finance initiates XIth Bank Bipartite process

Before settling down the dust of tenth bank bipartite, Ministry of Finance initiated next wage revision process. This is as per the recent Govt. policy of effecting wage revision from current date to avoid any financial burden of payment of arrears. Recently we noticed this approach for Central Govt. employees where pay commission had been constituted well in advance, for the first time in history.
Finance Ministry vide its Letter  No.F No 4/2/2/2015,IR dated 12th January 2016 directed,CEOs of all Public Sector Banks  to initiate the process of negotiation /Next wage revision of the employees and conclude it prior to the effective date 1.11.2017.
The last Wage revision process due w.e.f 1.11.2012(10th Bipartite Settlement /Joint Note  was completed on 25th May 2015 .
Information provided by : P.Mohan

10 comments :

girdhari yadav said...

What about LIC wage revision notification due 1/08/2012

Sudhakarbabu Kambhampati said...

Hope the UFBU will work wisely and hopeful of getting wages and pension at par with 7th pay commission.

Anonymous said...

aibea already discussed the matter and welcomed the letter.but i think this is just opposite they might have discussed how to sabotage it, because their levy income will be minimal,unless the settlement is delayed

S.Lakshman Rao said...

Since the central Pay/Pension revision is once in ten years,in terms of duration,no comments about wage revision at present.Perhaps the Banking Industry has to comply with the instructions issued to the possible with in the time schedule specified...

RAVI KIRAN said...

I think last time also similar letter was issued. Govt., unions will sabotage it

Anonymous said...

LIC WAGE NOTIFICATION IN GAZETTE already published.

Anonymous said...

GAZETTE NOTIFICATION ON LIC EMPLOYEES WAGE REVISION RELEASED ON 14t Jan'16.

Vishnu Chari said...

Banking industry can not get decent wages and perks until and unless bank employees get rid of both the IBA and the unions with its leaders all together. The union leaders are interested only about their levy and other hidden perks that they enjoy. It is only in the banking sector where employees have to dish out levy to the union leaders for getting their pay increased.

sukhdevrajb said...

Starting talks about next bipartite settlement

sukhdevrajb said...

I think this move is due to the fact that difference between salary of bank employees and central govt.employees is going to be more than ever,to divert the bank employees intention from re-opening of recently concluded settlement they have started talking about the next settlement.

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