Bank Officers’ wage settlement as per 11th BPS/Joint notes signed on November 11, 2020
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),…
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11th BPS signed: Deatils of Bank wage revision effective 01-11-2017
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…
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Salient features of Co-lending Model (CLM) scheme announced by RBI for priority sector lending
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.…
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RBI notifies revised guidelines for Opening of Current Accounts by Banks
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…
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Bank Clerical: New Basic, Special allowance, and DA for November 2020 under 11th BPS
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…
Bank Sub-staff: New Basic, Special allowance, and DA for November 2020 under 11th BPS
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…
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