The Indian Banks’ Association (IBA) on November 11 said it has signed a bipartite settlement with bank unions agreeing a 15 per cent increase in pay slip for bank employees.
Bank Employees Scales of Pay
a) Fitment in the new scales of pay shall be on a stage-to-stage basis.
b) There shall be no change in the dates of annual increments because of the fitment.
c) In the case of Ex-servicemen category employees who have joined the Banks on and after 1st November, 2017 up to the date of this Settlement, the fixation/fitment in the pay scales already given/eligible to be given under the Settlement dated 25th May, 2015 shall be refixed as per the provisions of this settlement.
d) All employees belonging to sub-ordinate cadre shall be eligible for one extra increment for passing JAIIB and two increments for passing CAIIB examination w.e.f 1.11.2017