New Delhi: Big news has come for government bank employees. Indian Banks Association (IBA) and unions have completely agreed on the wage agreement to increase the salaries of government employees. Indian Banks Association (IBA) and unions have agreed to 17 percent salary revision for 5 years. This salary increase was pending from November 1, 2022 and MoU has also been signed for this.
What are the main points of the decision: Among the benefits to be received under the signing of the wage agreement, 17 percent wage increase is going to be implemented from 1.11.2022. In this, there will be benefit of 3 percent loading on Basic DA. Along with pension revision, the rule of 5 days working is going to be implemented. Now this matter is in the court of the Finance Ministry.
(AIBOC) tweeted: The news says that All India Bank Officers Confederation has informed in the post on There is also going to be a discussion on any remaining matters first. It also says that although the amount distributed does not meet their initial expectations, there is a good news for the pensioners because now after waiting for a long time, they will get the 'ex-gratia' amount i.e. pension revision is going to happen.
*Update on the 9th Joint Note - AIBOC Secretariat*
We are pleased to inform you that we have officially signed the preliminary Memorandum of Understanding (MoU) for the 9th Joint Note. We have a fund allocation equivalent to 17 percent of the establishment expenses for… pic.twitter.com/vNuZHpOtr4
— All India Bank Officers' Confederation (AIBOC) (@aiboc_in) December 8, 2023
AIBOC expressed happiness: Reports say that after the agreement with IBA regarding 17 percent increase in salary, pension revision has also been agreed upon. The case regarding the demand for leave on every Saturday is still pending and the note has not been signed. However, AIBOC has said that it has obtained a commitment to implement 5 days working (five day banking) before giving the final touch to the joint note settlement and this is on record. AIBOC has agreed to this agreement especially considering IBA's assurance on 5 days working and relief for pensioners. Despite the salary percentage and weightage being less than expected, it is a matter of happiness for 8.50 lakh bank employees of the country.