Bank wage MoU: Salient Features, Salary, Allowance and other details.

Indian Banks'' Association (IBA) and the bank unions concluded the wage revision negotiations during the 11th Bipartite Wage Negotiations and have entered into a memorandum of understanding for an annual wage hike of 15 per cent. The new wage revision would entail an additional yearly outgo of Rs 7,898 crore for the banks. The Bank unions and associations - All India Bank Employees’ Association (AIBEA), National Confederation Of Bank Employees (NCBE), National Organisation Of Bank Workers (NOBW) and Indian National Bank Employees Federation (INBEF) have said that "after a long and protracted negotiation for more than three years and after overcoming many impediments and hurdles, finally, the 11th Bipartite Settlement on the revision of wages and improvement in service conditions of bank employees has been signed today with IBA at Mumbai." The details of the MOU as given is given below.

Salient Features:

• Increase in wage bill Rs, 3385 crores per year
• 29 banks covered — 12 Public Sector Banks, 10 Private Banks and 7 Foreign banks
• 5 Lakh employees of Public Sector Banks, Private Banks & Foreign Banks covered
• Period: November 2017 to October 2022
• First-time uniform Basic, DA, HRA, Special Allowance, Transport Allowance, etc. all over India

Pay scales

Clerical

Subordinate Staff

Stagnation Increment

• Clerical: Rs. 1990 — 9 increments once in 2 years

• Subordinate Staff:  Rs. 1000 — 9 increments once in 2 years

Special Pay: for Clerical Staff

For Subordinate Staff

PQP

Fixed Personal Pay

Dearness Allowance: rate: 0.07 % per slab of 4 points over 6352 points

Special Allowance: 16.4 % of basic pay. DA is s payable on special allowance

Transport Allowance: Rs. 600 per month to all clerks and sub staff. DA is payable on transport allowance

House Rent Allowance: Uniform rate at 10.25% on pay all over India
Where an employee is transferred by management, he will get 11% HRA or he can claim 150% of the entitled HRA subject to production of rent receipt.

Annual Medical Aid: Rs. 2355 per annum
 

Other details

1. Subordinate Staffpassing will get additional increment like clerical staff

2. The notice period for availing Privilege Leave (other than for LFC) will be 10 days. ( now 15 days)

3. Privilege leave taken on sick grounds when there is no sick leave at credit will not be counted as an occasion of availing PL.

4. From the calendar year 2020, besides encashment of PL at the time of retirement and during availing of LFC, PL Encashment would be permitted at 5 days every calendar year (7 days in case of employees/officers of 55 years of age and above) at the time of any festival of their choice.

5. Beyond 30 years of service, additional sick leave will be granted at 1 month per year subject to a max. of 720 days in entire service. (it is 630 days now)

6. Women employees can avail sick leave for the sickness of their children (up to 8 years of age) on the production of the medical certificate.

7. Extraordinary Leave on the loss of pay can be availed for 120 days at a time. (NOW 90 DAYS)

8. Maternity Leave can be availed in combination/ continuation with another kind of leave.

9. 2 months leave with salary will be granted as additional ML for Hysterectomy operation where ML limit is exhausted.

10. Within the overall period of 12 months, Maternity leave may be granted up to 6 weeks in case of MTP/miscarriage/ abortion, AND if required up to 6 months.

11. Maternity Leave for legal adoption of one child will be up to a max. of 9 months. (NOW 6 MONTHS)

12. Maternity Leave for delivery for twin children shall be 8 months (now 6 months)

13. Within the overall period of 12 months, Maternity leave may be granted up to 30 days for the period of hospitalisation for the treatment of certain specified ailments, subject to production of necessary certificate from the hospital.

14. Paternity Leave can be sanctioned in case of child adoption.

15. Absence from office due to curfew, riots, prohibitory orders, natural calamities, flood, etc. at the place of work or residence will be treated as a special leave on duty.

16. LFC: permissible Distance will be revised as 2200 km/4400 km for non-Subordinate Staff and 2600 km/5200 km for Subordinate Staff

17. Employees will be permitted to travel by their own car while on LFC 15. Road Mileage charges will be revised from Rs. 6 per km to Rs. 8 per km

18. Train fare by Shatabdi and Rajdhani express trains (non-Executive Class) will be reimbursed under LFC if travel is undertaken by these trains.

19. Charges for local sightseeing while on LFC will be reimbursed within the entitlement on the production of bills from approved operators.

20. LFC — if husband and wife both are working in the same Bank, they will be entitled to LFC individually.

21. GST charges on train fare will be paid over and above the entitlement

22. For employees working in the North East States, LFC will begin from Guwahati and the fare from their place of work to Guwahati will be additionally paid. Similarly, Andaman Nicobar islands to Chennai/ Kolkata, Lakshadweep to Kochi, far-flung area branches in HP, Uttarakhand, Sikkim, J & K or any other areas which are not directly connected by train, fare to the nearest major railway station will be additionally reimbursed under LFC in addition to normal entitlement.

23. For actual travel under LFC, train fare under dynamic fare system as on the date of booking of tickets will be reimbursed.