On Wednesday (11th November 2020), the representatives of UFBU (workmen) and representatives of IBA have signed the 11th Bipartite settlement. They finalized the various pay-slip components in their negotiation with Indian Banks Association which are as under. The revised Basic salary for workmen is arrived by the merger of DA at 47.80% at the rate…
We have prepared the November 2020 pay-slip chart (shown below) for bank officers taking into following points in terms of 8th Joint note signed by representatives of officers associations and IBA representatives on 11.11.2020). OLD BASIC NEW BASIC (A) SPL All (B) Learning All ( C ) TOTAL (A+B+C) DA CCA HRA Total without…
The wage revision for public sector bank officers, and a few other old private sectors which took part in the bipartite wage revision process which has been pending since 2017, has been finalised and signed by the Indian Banks‘ Association (IBA) and Four officers associations. The Four officers’ unions All India Bank Officers’ Confederation (AIBOC),…
Today (11th November 2020), the representatives of UFBU signed 11 th Bipartite settlement. The finalized the various pay-slip components in their negotiation with Indian Banks Association are as under. The revised pay-slip of clerical staff worked out as under, Clerical: * Award Basic: (9 Stagnation increment, Uniform periodicity 2 yrs) 17900 – 1000/3 – 1230/3…
The Reserve Bank on Thursday came out with a Co-Lending Model (CLM) scheme under which banks can provide loans along with NBFCs (including HFCs) to priority sector borrowers based on a prior agreement. The arrangement entailed joint contribution of credit at the facility level by both the lenders as also sharing of risks and rewards.…
Today (02.11.2020), RBI announced that banks may ensure compliance with the instructions contained in their Circular dated August 6, is extended up to December 15, 2020. In its circular of August 6, RBI said in respect of the opening of current accounts banks shall comply with all the instructions contained therein the circular. For existing…
As agreed upon by workmen unions and IBA representatives on 31st October 2020 under 11th BPS, the revised DA would be at 0.07% per slab of 4 points over 6352 points for the new fitments. Besides Special Allowance of 16.4% for both clerical and sub staff. Accordingly, we have worked out a revised pay-slip at…
As agreed upon by workmen unions and IBA representatives on 31st October 2020 under 11th BPS, the revised DA would be at 0.07% per slab of 4 points over 6352 points for the new fitments. Additionally, Special Allowance of 16.4% for both clerical and sub staff. Accordingly, we have worked out a revised pay-slip at…
Today (31st October), the representatives of workmen’s Unions AIBEA, NCBE, NOBW, and INBEF finalized the various pay-slip components in their negotiation with Indian Banks Association. The revised pay-slip of clerical staff worked out as under, Clerical: Rs.17900-1000-1000-1000-1230-1230-1230-1490-1490-1490-1490-1730-1730-1730-1730-1730-1730-1730-3270-1990,=47920. The revised pay-slip of Sub-Staff worked out as under, Sub-Staff: Rs.14500 – 500- 500- 500- 500- 615- 615-…
Every other day, we have been coming across cases where fraudsters are using Power of Attorney to create mortgages or sale of properties. General Public, Bankers, and other financial lenders are most vulnerable to mortgage-related frauds. Therefore, Staff working in the loan and advance departments of banks and financial departments shall be vigilant at the…
