Tentative new pay scale for bank employees taken final shape will be finalized in the next round of meeting

Today (Aug 28) a meeting of the working group for workmen unions of banks held on a virtual platform. Four workmen unions AIBEA-NCBE-INBEF-NOBW participated discuss about distribution of amount agreed in MOU and finalizing the new pay scales, etc. from allocated Rs.7808 crores (15%) of total amount for employees and officers together.

Salient feature of today’s meeting

• Rupees four hundred ninety five  crores would be used for new  PAY+ DA  from out of  Rs.3385 crores apportionable for workmen and remaining balance of Rs.2890 crores would be distributed to other components.
• Dispensing with the graduation increment and constructing the pay scale of clerical staff is on the card but not yet finalized.
• Issue of grant of one more stagnation increment and also improvement in periodicity i.e. sanction of all stagnation increment every two years for clerical cadre like sub-staff. It is discuss and finalise the issue in the next meeting.
• It was decided to finalise the issues in respect of special pay, special allowance etc. in the next round of meeting.
• DA rates from Novemeber 2017 would be 0.07% per slab of 4 points of quarterly average increased over 6352 points

Further discussion will be held in the next round of meeting to be held shortly.