May 25, 2015
ALL UNITS / STATE COMMITTEES
“LIGHT AT THE END OF THE TUNNEL”
7 TH JOINT NOTE SIGNED TODAY
CONGRATS TO ALL BANKMEN
31 months of long journey commenced on 30 th Oct
2012 has ultimately ended by inking the 7th Joint
note in the Banking Industry today at Mumbai,
benefitting 3,04,090 Officers.
IBA team was led by Shri T M Bhasin , Chairman IBA
(CMD Indian Bank), Shri Ashwini Kumar, Chairman Sub
Committee on Officers’ demands/issues & CMD Dena Bank,
, Shri Shyam Srinivasan CEO Federal Bank, Shri Animesh
Chauhan MD & CEO OBC, , Shri Ashwini Mehra DMD SBI,
Shri M V Tanksale CEO IBA, Shri K Unnikrishnan Dy CEO
IBA, Shri K S Chauhan Senior Vice President, HR & IR IBA
besides back up team of HR Dept members of IBA.
AIBOA team was led by Com Alok Khare, Vice
Chairman, Com S S Shishodia President, Dr Kumar
Arvind Vice President, Com M A Srinivasan Dy Gen
Secy, Com S N Dutta Dy Gen Secy, Com G
Gunasekaran Treasurer, Com Narendra Kotiawala Jt
Secy besides the undersigned .
After the brief exchange of pleasantries on the
happy occasion of concluding the discussions on the
wage revision and service conditions of the Bank
men, reiterating the concern to protect , promote
and preserve the Public Sector Banks and work
towards strengthening and raising to standard of
participation of the banks in Nation Building
Exercises, in midst of mounting NPAs, due to
economic conditions in our country. Then the
representatives of the unions and IBA inked the
Joint Note, thus ended the long drawn process of
wage negotiation in the industry.
The salient features of the Joint Note signed are :
a) a] Shifting the system of arriving at the wage load
on Pay slip components instead of the earlier
exercise of total overall load on establishment
b) b] Due to the capping of 2% over 60.15% DA
merger with the existing Basic Pay for the purpose
of construction of new Basic Pay, a new element/
component with a nomenclature as “Special
Allowance attracting DA” is introduced. A minimum
of 9.75% uniform increase has been ensured to all
Officers in the industry.
c) c] The frozen CCA of earlier Joint note has been
defrezed /enhanced this time, as there was a
demand by AIBOC to merge with HRA like
workmen, in the earlier Joint Note exercise in 2010.
Only 54% of Officers are getting CCA.
d) d]The quantum of HRA due to 163.335% rise in the
existing basic pay would automatically enhance the
HRA. Still, we have added 0.5% in all three areas
benefitting 55% of the Officers in the industry.
e) e ] There is an increase in FPP, PQP and also in the
medical aid available yearly.
f] AIBOA, in its silver jubilee conference held at
New Delhi in February 2006, realizing the ever
increasing workload of Officers gave a call for “
Regulated working hours” and “5 days a week”. Now
keeping the interest of “GENNEXT” Officers in mind
on whose shoulders the burden of building the
public sector banks rests, 2 nd and 4 th Saturdays
will be declared as holidays and in lieu of it 1st and
3rd Saturdays will be full working days. 5 th
Saturday of the month will be full working day. It
was assured on 23 rd Feb 2015, while drawing the
MOU, after 6 to 12 months, subject to review, the
matter would be revisited. Hence the vision of late
Com “RJS” is fulfilled to quench the thirst of the
new generation of Bank Workers to initiate new
process of work – life balancing exercise to a great
extent. This is another great achievement of AIBOA.
g) g] Insurance backed hospitalization was also
brought as a part of the settlement to the total
workforce of the industry except to SBI workforce.
It is going to be a new experiment, however the
workforce in the industry has to deal with the Bank
To put in a nutshell, a per capita increase of Rs
80,720/= per annum is available. A unique step
forward has been made in the matter of D & A
regulations and regulated working hours for
Officers. The process has been set in motion. Other
issues pertaining to the Officers’ community has to
be taken forward after discussing the same in our
central committee. The issues raised on behalf of
the retirees has not progressed well but a record of
proceedings was signed by all the Negotiating
Unions to work out the ways and means to address
the pressing problems.
IBA has agreed to advise the Banks to release the
arrears from 01.11.2012 to 31.05.2015 at the earliest.
AIBOA secretariat which met at Mumbai has decided to call
upon the Officers for a 4% levy after tax to be shared
equally between base/State/All India Federation and
AIBOA. In addition an amount of Rs 1000/ = may please be
paid to “AIBOA Unorganised Sector Relief Fund” as a good
will gesture, to fulfill the dream of Late Com RJS . We call
upon the members and units to fulfill the financial
obligations without fail, as this is a main fulcrum to keep
the “Tarak Institute” in perfect condition.
The role played by Com D Raja, M P on 18.02.2015
setting the stage to clinch the wage settlement to 8
lacs workforce by leading the delegation of “AIBEA
& AIBOA” principal Office bearers to The Hon
Finance Minister Shri Arun Jaitley was noteworthy.
Our red salute to the sterling role played by him in
Congratulations!! Your unflinching loyalty to AIBOA
and its role to achieve a meaningful wage
settlement is once again demonstrated .
LONG LIVE AIBOA
WORKING TOGETHR WORKS
1. Scale of Pay:
Scale I : 23700 - 980 (7) – 30560 -1145 (2)
- 32850-1310 (7) - 42020
Scale II : 31705 – 1145 (1) – 32850
– 1310 (10) - 45950
Scale III : 42020 – 1310 (5) – 48570 –
1460 (2) - 51490
Scale IV 50030 – 1460 (4) – 55870 –
1650 (2) - 59170
Scale V : 59170 – 1650 (2) – 62470
– 1800 (2) - 66070
Scale VI : 68680 – 1960 (4) - 76520
Scale VII : 76520 – 2120 (4) – 85000
2. STAGNATION INCREMENT: -
Scale I 4 increments once in 3 years
Scale II 4 increments (3 increments once in 3 yrs &
1 increment after 2 yrs) DOE – 01 5 2015.
Scale III 5 increments (4 increments once in 3 yrs &
1 increment after 2 yrs) D O E – 01 05 2015
Scale IV 1 increment once in three years DOE 01 05
3. D A @ 0.10% for every 4 points rise.
4. H R A : from 01.11.2012
Major A: 9%
Area I : 8%
Others : 7%
5. C C A from 01.11.2012:
Area I: 4% MAX Rs 870
Others: 3% MAX Rs 600
6. Special allowance from 01.11.2012:
Scale I to III 7.75% + DA
Scale IV & V 10% + DA
Scale VI & VII 11% + DA
7. PF from 01.11.2012 10%
8. Medical Aid: Scale I to III: Rs 8000/=
IV & above: Rs 9050/=
9. Recovery of House /Furniture Rent :
0.75% and 0.15% of the first stage of Basic Pay.
10. FPP from 01.11.2012:
Basic Comp DA Total
1310 143 1453
1460 159 1619
1650 180 1830
1800 196 1996
1960 214 2174
2120 231 2351
11. PQP from 01.11.2012:
Part I: Rs 670 pm
Part II: Rs 1680 pm
12. Deputation Allowance:
Outside the organization: 7.75% max Rs 4000/= pm
Inside the organization: 4.00% max Rs 2000/= pm
13. Hill & Fuel Allowance from 01.11.2012:
1000 mtrs to 1500 mtrs: 2% Max Rs 750/= pm
1500 mtrs to 3000 mtrs: 2.5% max Rs 1000/= pm
Above 3000 mtrs: 5% max Rs 2000/= pm
14. Special Area Allowance w.e.f 01.11.2012:
15. Mode of travel:/LFC
LFC monetization: 100% of the eligible fare.
Monthly income Rs 10,000/= (aggregate of
16. Project Area Allowance: Group A: Rs 400/ p m
Group B: Rs 350/ p m
17. Mid Academic Transfer Allowance: Rs 1100/=
p m DOE 01 6 2015
18. Split Duty Allowance:
Rs 200/= p m
19. Compensation on transfer: [D O E 01 06 2015]
Scale I to III: Rs 15000/=
IV & above: Rs 20,000/=
20. Improvements in Leave:
Special leave upto 30 days for donation of organs in
Paternity leave for 15 days
Child adoption leave maximum period of 6 months.
Privilege leave accumulation upto 270 days
encashment upto 240 days.
21. 2 nd a d 4 th Saturdays –Holidays
Notification from the Government is awaited.