11th BI-Partite Settlement Dtd. 11 Nov 2020- Clerical and Subordinate Staff: Wage revision etc. w.e.f 1st Nov, 2017

11th BI-Partite Settlement Dtd. 11 Nov 2020- Clerical and Subordinate Staff: Wage revision etc. w.e.f 1st Nov, 2017

11th BI-Partite Settlement Dtd. 11 Nov 2020- Clerical and Subordinate Staff: Wage revision etc. w.e.f 1st Nov, 2017

11TH BI-PARTITE SETTLEMENT – DATED 11.11.2020

Conclusion of Discussions between Indian Banks` Association and Workmen Unions

11th BI-Partite Settlement Dtd. 11 Nov 2020- Clerical and Subordinate Staff

MEMORANDUM OF SETTLEMENT dated 11th November, 2020 between the Managements of 29 Banks as represented by the Indian Banks’ Association (37 Banks as on 1st November, 2017 and 29 Banks as on date of this Settlement on account of merger of Banks during the period) and their workmen as represented by the All India Bank Employees’ Association, National Confederation of Bank Employees, National Organisation of Bank Workers and Indian National Bank Employees’ Federation.

[Under Section 2(p) and Section 18(1) of the Industrial Disputes Act, 1947 read with Rule 58 of the Industrial Disputes (Central) Rules, 1957]

SHORT RECITAL OF THE CASE

  1. The Indian Banks’ Association (IBA) on behalf of its member banks named in the Schedule I hereto, (other than IDBI Bank) signed a settlement dated 25th May, 2015 with the All India Bank Employees’ Association (AIBEA), National Confederation of Bank Employees (NCBE), Bank Employees’ Federation of India (BEFI), National Organization of Bank Workers (NOBW) and Indian National Bank Employees’ Federation (INBEF) representing the workmen employees of the Banks mentioned in the said Schedule I, inter alia regarding various terms and conditions of their The Settlement dated 25th May, 2015 was operational for a period of 5 years from 1st November 2012.
  2. The AIBEA, NCBE, BEFI, NOBW and INBEF (hereafter jointly called the Unions) submitted their Charter of Demands dated 5th June, 2017 for revision in wages and other service conditions of workmen to IBA and requested for negotiations on the same, with a view to arrive at an amicable
  3. Simultaneously, IBA also raised with the Unions, issues on behalf of the managements of banks concerned, to be discussed and settled with a view to improving efficiency of operations in
  4. The parties agreed that the total quantum of wage revision increase (Pay slip component) shall be 3385 crores being 15% of the Pay slip component of Establishment Expenses of Public Sector Banks which are parties to this settlement for the financial year ending March 2017. It was further agreed that the new salary of pay would be constructed, after merging Dearness Allowance corresponding to 6352 points. All other issues of the Management and Workmen Unions discussed during the process of negotiations would be settled to the mutual satisfaction. The parties signed and exchanged minutes in this regard on 22nd July, 2020 at Mumbai.
  5. The parties negotiated the aforesaid demands and issues and have reached an agreement as set out herein under in full satisfaction of their
  6. The agreement reached as aforesaid shall amend, modify and supersede the relevant provisions of the Awards and Settlements wherever referred to in this

NOW, IT IS HEREBY AGREED AND DECLARED by and between the parties hereto as under:-

TERMS OF THE SETTLEMENT GENERAL

  1. In respect of 29 Banks listed in Schedule 1 to this Memorandum of Settlement, except the State Bank of India, Indian Overseas Bank and Bank of Baroda, the provisions of the Sastry Award in Reference S.R.O. 35 dated 5th January 1952, notified on 26th March 1953 as finally modified and enacted by the Industrial Disputes (Banking Companies) Decision Act, 1955, the Industrial Disputes (Banking Companies) Decision Amendment Act, 1957 and the provisions of the Award of the National Industrial Tribunal presided over by Mr. Justice K T Desai in Reference No. I of 1960 which Award inter alia modified certain provisions of the Sastry Award (hereinafter referred to as the Awards) as modified by the settlements dated 19th October, 1966, lih October, 1970, 23rd July, 1971, 8th November, 1973, 1st August, 1979, 31st October, 1979, 21st April, 1980, 8th September, 1983, 17th September, 1984, 5th January, 1987, 10th April, 1989, 29th June, 1990, 16th July, 1991, 29th October, 1993, 14th February, 1995, 14th December, 1996, 28th November, 1997, 27th March 2000, 10th April 2002, 2nd June 2005, 27th April 2010 and 25th May, 2015 shall continue to govern the service conditions except to the extent the same are modified by this settlement.
  1. (i) In respect of State Bank of India, the provisions of the Awards as modified by the Settlements dated 31st March, 1967, 24th February, 1970, 15th September, 1970, 1st August, 1979, 31st October, 1979, 21st April, 1980, 8th September, 1983, 17th September, 1984, 5th January, 1987, 10th April, 1989, 29th June, 1990, 16th July, 1991, 29th October, 1993, 14th February, 1995, 14th December, 1996, 28th November, 1997, 15th September, 1998, 2ih March 2000, 10th April 2002, 22nd July 2003, 2nd June 2005, 27th April 2010 and 25th May, 2015 shall continue to govern the service conditions of the workmen except to the extent the same are modified by this
  • (ii) In respect of Bank of Baroda, the provisions of the Awards as further modified by the Settlements dated 23rd December, 1966, 19th December, 1970, 1st August, 1979, 31st October, 1979, 21st April, 1980, 8th September, 1983, 17th September, 1984, 5th January, 1987, 10th April, 1989, 29th June, 1990, 16th July, 1991, 29th October, 1993, 14th February, 1995, 14th December, 1996, 28th November, 1997, 27th March 2000, 10th April 2002, 2nd June 2005, 27th April 2010 and 25th May, 2015 shall continue to govern the service conditions of the workmen except to the extent the same are modified by this settlement.
  • (iii) In respect of Indian Overseas Bank, the provisions of the Awards as further modified by the Settlements dated 14th December, 1966, 17th December, 1970, 29th July, 1972, 23rd March, 1973, 1st August, 1979, 31st October, 1979, 21st April, 1980, 8th September, 1983, 17th September, 1984, 5th January, 1987, 10th April, 1989, 29th June, 1990, 16th July, 1991, 29th October, 1993, 14th February, 1995, 14th December, 1996, 28th November, 1997, 2ih March 2000, 10th April 2002, 2nd June 2005, 27th April 2010 and 25th May, 2015 shall continue to govern the service conditions of the workmen except to the extent the same are modified by this
  • (iv) In respect of State Bank of India, Bank of Baroda and Indian Overseas Bank, Settlements referred to in Clauses 2(i), (ii) and (iii) above refer to settlements entered into between State Bank of India, Bank of Baroda and Indian Overseas Bank with the All India State Bank of India Staff Federation, All India Bank of Baroda Employees’ Federation and the All India Overseas Bank Employees’ Union, respectively, representing the workmen of those banks (hereinafter referred to as the said separate settlements).
  • (v) In respect of IDBI Bank, who were hitherto governed by their internal settlements, have now given the mandate to the Indian Banks’ Association to be covered by the industry-level settlement and hence shall be governed by the terms of this
  1. 3. (i) The provisions of the said Awards, the First Bipartite Settlement dated 19th October, 1966 and/or other subsequent settlement(s) including the above­ mentioned separate settlements hereinafter collectively referred to as said settlements shall stand modified or superseded to the extent and in the manner detailed hereunder.

(ii) Provisions in the aforesaid Awards/Settlements which have not been amended/ modified or superseded by this Settlement shall continue to remain in force.

4. Scales of Pay Clerical Staff and Subordinate Staff

In modification of Clause 4 of Bipartite Settlement dated 25th May, 2015, with effect from 1st November, 2017 the scales of pay shall be as under: Click here to read more………

5. Stagnation Increments

In partial modification of Clause 5 of Bipartite Settlement dated 25th May 2015, both clerical and subordinate staff (including permanent part-time employees on scale wages) shall be eligible for nine stagnation increments w.e.f. 1st November 2017 at the rate and frequency as stated herein under: Click here to read more………

6. Definition of ‘Pay’

In reiteration of Clause 6 of the Bipartite Settlement dated 25th May 2015, ‘Pay’ shall be defined as under:

‘Pay’ components Eligible for
  1. Basic Pay
  2. Stagnation increments
  3. Special Pay
  4. Graduation Pay/Professional Qualification Pay
  5. Officiating Pay
  1. Dearness Allowance
  2. HRA
  3. Provident Fund
  4. Gratuity
  5. Pension
  6. New Pension Scheme

Note: The increment component of Fixed Personal Pay as given in column 2 of Schedule III shall rank for superannuation benefits.

‘Pay’ components Eligible for
  1. Basic Pay
  2. Stagnation increments
  3. Special Pay
  4. Graduation Pay/PQP
  5. Officiating Pay
  6. Special Allowance
  7. Transport Allowance
Dearness Allowance

7. Dearness Allowance – Clerical and Subordinate Staff

In substitution of Clause 7 of Bipartite Settlement dated 25th May 2015 with effect from 1st November 2017, the Dearness Allowance shall be payable as per the following rates: – Click here to read more………

8. House Rent Allowance

In substitution of Clause 9 of the Bipartite Settlement dated 25th May 2015 with effect from 1st November 2017, the House Rent Allowance payable to subordinate and clerical staff shall be as under:-

Area Rate as percentage of ‘Pay’ [No Minimum/ No Maximum]
At all centres 10.25 %

Note:

  • ‘Pay’ means as defined in Clause 6 of the Settlement here in above
  • Where quarters are provided, HRA shall not be payable and the rent to be recovered shall be 2 % of the first stage of the Scales of Pay.
  • All other existing provisions relating to House Rent Allowance shall remain unchanged.

Provided further that when a workman employee is transferred out of the station other than on account of request, he/she may, in lieu of HRA as above, claim reimbursement of house rent upto 150% of HRA otherwise payable and subject to production of rent receipt.

9. Special Allowance

In modification of Clause 9 of the Bi-partite Settlement dated 25.05.2015, with effect from 1.11.2017, workmen employees shall be paid Special Allowance as under:

16.40 % of the Basic pay with applicable DA thereon.

Note : The Special Allowance with applicable DA thereon shall not be reckoned for superannuation benefits viz., pension including contribution to NPS, PF & Gratuity.

10. Transport Allowance

Inpartial modification of Clause 10 of the Bipartite Settlement dated 25th May 2015, with effect from 1st November, 2017, Transport Allowance shall be paid as under;

All Clerical and Subordinate Staff – Rs. 600 per month with applicable DA thereon

Note :

  • The Transport Allowance with applicable DA thereon shall not be reckoned for superannuation benefits , pension including contribution to NPS, PF & Gratuity.
  • This provision by itself will not preclude the payment of any existing allowance of this nature paid as a result of Government guidelines/bank level settlements.

11. Special Pay clerical staff and subordinate staff in banks other than State Bank of India

In modification of Clause 11 of the Bipartite Settlement dated 25th May 2015, with effect from 1st November 2017: Click here to read more………

12. Hill and Fuel Allowance

In partial modification of Clause 12 of the Bipartite Settlement dated 25th May 2015, the Hill and Fuel Allowance shall be payable at the following rates with effect from 1st November 2017:

a. At places situated at a height of 3000 meters and above 8% of pay (Max. Rs.2250/-p.m.)
b. At places situated at a height of and over 1500 meters but below 3000 meters 4% of pay (Max. Rs.900/-p.m.)
c. At places situated at a height of over 1000 meters but less than 1500 meters and Mercara Town 3 % of pay (Max. Rs. 750/-p.m.)

Note: All other existing provisions shall remain unchanged. SBI may revise the ceiling amounts.

13. Fixed Personal Pay (other than State Bank of India)

In partial modification of Clause XIV of Bipartite Settlement dated 29th October 1993, Clause 13 of Bipartite Settlement dated 27th March 2000, Clause 13 of the Bipartite Settlement dated 2nd June 2005, Clause 13 of Bipartite Settlement dated 2ih April 2010, and Clause 13 of Bipartite Settlement dated 25h May, 2015, the Fixed Personal Pay shall be revised with effect from 1st November 2017 as per Schedule III.

Note: Only employees who were in the service of the bank on or before 1st November 1993 will be eligible for FPP, one year after reaching the maximum scale of pay, they are placed in. Those who joined the Banks on or after 2nd November, 1993 are not eligible for FPP.

14. Payment of Overtime Allowance

The overtime allowance paid to the employees for the overtime work performed before the date of this settlement shall not be recalculated on account of this Settlement.

15. Pension (including State Bank of India)

With effect from 1st November 2017, the Pay as defined under Clause 6 of this Settlement and drawn by the employees who are members of the Pension Fund shall be taken into consideration for the purpose of calculation of pension as per the Pension Fund Rules/ Regulations in force. Click here to read more………

16. Dearness Relief on Pension

With effect from 1st November, 2017, in respect of employees who retired or died while in service on or after 1st November, 2017, Dearness Relief shall be payable at 0.07 % per slab on the Basic Pension or Family Pension or Invalid Pension or compassionate allowance as the case may be. Dearness Relief in the above manner shall be paid half yearly for every rise or fall of 4 points over 6352 points in the quarterly average of the All India Consumer Price Index for industrial workers in the series 1960=100.

17. Provident Fund

It is reiterated that –

  • The employees who are presently covered under the Pension Scheme shall continue to contribute 10% of the Pay towards Provident Fund, but there shall be no matching contribution.
  • Employees of State Bank of India will continue to be covered by Contributory Provident Fund Scheme as hitherto.
  • Employees who are presently covered under Contributory Provident Fund Scheme and have not opted for Pension Scheme under the Settlement dated 2ih April 2010 shall continue under the Contributory Provident Fund Scheme as hitherto.
  • Banks may decide and fix at their level a higher percentage of contribution to PF.

18. New Pension Scheme:

  • In partial modification of Clause 15 (d) of Bipartite Settlement dated 2ih April, 2010, in the case of all employees who have joined the Bank on and from 1st April, 2010 and who are governed and covered by the New pension Scheme/ Defined Contributory Pension Scheme, while the employee will continue to contribute 10% of Pay plus Dearness Allowance, the bank (including SBI) will make a contribution of 14% of Pay and Dearness Allowance from the date of settlement subject to approval of Government.
  • The service charges by the Service Provider/Fund Manager of NPS will be borne by the bank (including SBI) from the FY 2012.

19. Family Pension

Subject to approval by the Government, It is agreed that family pension shall be payable at the uniform rate of 30 percent of the Pay of the deceased employee and that there shall be no ceiling on family pension. It is agreed that these provisions, when approved by the Government shall apply to SBI also.

20. Medical Aid

In partial modification of Clause 17 of the Bipartite Settlement dated 25th May, 2015, with effect from 1st November 2017, the reimbursement of medical expenses under medical aid scheme shall be restricted to an amount of Rs.2355 /- per annum.

For the calendar year 2017, the reimbursement of medical expenses under the medical aid scheme shall be enhanced proportionately for two months i.e. November and December 2017.

21. Definition of ‘Family’:

In partial modification of Clause 18 of the Bipartite Settlement dated 25th May, 2015, for the purpose of medical facilities and for the purpose of leave fare concession, the expression ‘family’ of an employee shall mean –

  • the employee’s spouse, wholly dependent unmarried children (including step children and legally adopted children) wholly dependent physically and mentally challenged brothers/ sisters with 40% or more disability, widowed daughters and dependent divorced/ separated daughters, sisters including unmarried/ divorced/ abandoned or separated from husband/ widowed sisters, as also parents wholly dependent on the employee.

Provided that in the case of physically and mentally challenged children, they shall be construed as dependents even after their marriage including spouse and children subject to fulfilling the income criteria.

  • The term wholly dependent family member shall mean such member of the family having a monthly income not exceeding 12,000/- p.m. If the income of one of the parents exceeds Rs.12,000/- p.m. or the aggregate income of both the parents exceeds Rs.12,000/- p.m., both the parents shall not be considered as wholly dependent on the employee.
  • A married female employee may include her natural/legal parents or parents-in-law under the definition of family, but not both, provided that the parents/parents-in-law are wholly dependent on

Note: For the purpose of medical expenses reimbursement scheme, for all employees, Leave Fare Concession etc. any two of either of the dependent parents/ parents-in-law shall be covered.

22. Leave Fare Concession

In partial modification of Paragraph 19 of Bipartite Settlement dated 25th May, 2015, with effect from the date of this Settlement, leave fare concession payable will be the actual return railway fare or steamer fare incurred by the workman and members of his family subject to the following: Click here to read more………

23. Hospitalisation (Except SBI)

In reiteration of Clause 20 of the Bipartite Settlement dated 25th May, 2015, the reimbursement of hospitalisation expenses shall continue to be as per the Medical Insurance Scheme detailed in Schedule IV to  that Settlement except to the extent as modified hereunder:

The clause “In the event of any claim becoming admissible under this scheme, the Bank will reimburse the amount of such expenses as would fall under different heads mentioned below and as are reasonably and medically necessary incurred thereof by or on behalf of such employee” is amended as under:-

“In the event of any claim becoming admissible under this scheme, the Bank will reimburse the amount of such expenses as would fall under different heads mentioned below and as are reasonably and medically necessary incurred thereof by or on behalf of such employee, may be decided by bank independently”

Addition in Domiciliary Scheme coverage:

The following treatments/ diseases have also been included under Domiciliary treatment coverage w.e.f. 1/10/2019.

  1. Type 1 Diabetes
  2. Rheumatoid Arthritis
  3. Psoriasis/Psoriatic Arthritis
  4. System lupus Erythematous
  5. Inflammatory Bowel Diseases
  6. Additions Diseases
  7. Sjogren’s Diseases
  8. Hashimoyos Thyroiditis
  9. Auto immune vacuities
  10. Pernicious Anemia
  11. Celiac disease
  12. Auto immune myositis

24. Compensation on Transfer

In supersession of Clause 21 of Bipartite Settlement dated 25th May, 2015, with effect from 1/11/2020. compensation on transfer, shall be as under: –

By Train:

Non-Sub-staff Sub-staff
a. For married persons 3500 kg. 2500 kg.
b. For unmarried persons 2500 kg. 1500 kg.

By Road: An employee on transfer from one station to another can transport his/her personal effects by rail/road upto the stipulated weights by an IBA approved Transport Operator.

25. Compensation for losses due to breakage or damage to goods on Transfer

In modification of Clause 22 of Bipartite Settlement dated 25th May 2015, with effect from 1/11/2020, compensation on transfer, shall be as under: –

  1. Where an employee produces receipts or a statement of loss in respect of breakages subject to a maximum of:
  • Clerical Staff – Rs. 1,650/­-
  • Subordinate Staff – Rs.1,100/-
  1. Where no receipts/statement of loss are produced, a lumpsum payment of:
  • Clerical Staff – Rs.1,100/­-
  • Subordinate Staff – Rs. 825/-

26. Halting Allowance

In modification of Clause 23 of the Bipartite Settlement dated 25th May 2015, with effect from 1/11/2020, halting allowance shall be payable at the following rates for the days spent on duty outside the headquarters: Click here to read more………

27. Washing Allowance

In supersession of Clause 24 of Bipartite Settlement dated 25th May 2015, with effect from 1st November 2017, washing allowance shall be payable at Rs.200/- p.m., where the washing of livery is not arranged by the bank.

28. Cycle Allowance

In supersession of Clause 25 of Bipartite Settlement dated 25th May 2015, w.e.f. 1st November 2017, cycle allowance is payable to the members of the subordinate staff who are required to use a cycle on regular assignment for outdoor duties at Rs.150/- p.m. at all centers.

Cycle allowance would not be paid to workman member of the subordinate staff entitled to the allowance for the period of leave where such leave exceeds 30 days.

29. Split Duty Allowance

In partial modification of Clause 26 of the Bipartite Settlement dated 25th May 2015, w.e.f. 1st November 2017, Split Duty Allowance shall be payable at all centers at Rs 200/- per month.

30. Project Area Compensatory Allowance

In partial modification of Clause 27 of the Bipartite Settlement dated 25th May 2015, w.e.f. 1st November, 2017, workmen in project areas shall be paid project area compensatory allowance as under:

Project Area Group ‘A’ Project Area Group ‘B’
Clerical Staff -Rs. 290/-p.m. Sub-Staff – Rs.230/- p.m. Clerical Staff – Rs.230/- p.m. Sub-Staff – Rs.200/- p.m.

Note: In addition to the areas/places identified and defined as Project Ares, Branches opened and located within Special Economic Zone, Export Promotion Zone, etc. shall be treated as Project Areas for the purpose of payment of project area compensatory allowance as above.

31. Project Area centres:

In partial modification of clause 8.1 Settlement dated 19th October, 1966, clause 11/8 of settlement dated 8th November, 1973 and clause 2 of Minutes of Discussions dated 15th/16th April, 1980, the following places shall be termed as Project Areas for the purpose of the provisions under this Settlement.

Project Area Centres – Group A and Group B – Click here to read more………

32. Reimbursement of expenses on Road Travel

In substitution of Clause 29 of Bipartite Settlement dated 25th May, 2015, w.e.f. 1st November, 2020, where an employee has to travel on duty I LFC between two places, he shall be reimbursed actual road mileage cost or at Rs. 8/- per k.m., whichever is less.

33. Privilege Leave (as per Schedule IV)

34. Maternity Leave (as per Schedule IV)

35. Paternity Leave (as per Schedule IV)

36. Sick Leave (as per Schedule IV)

37. Special Causal Leave (as per Schedule IV)

38. Extraordinary Leave (as per Schedule IV)

39. Annual encashment of Privilege Leave (as per Schedule V)

40. Performance Linked Incentive Scheme (as per Schedule V)

41. Deployment:

In partial modification of Clause 32 , sub clause (x) of Schedule VI, of Settlement dated 2nd June, 2005, a workman in the non-subordinate cadre so long as he serves in the deployed center shall draw a lump sum amount of Rs. 600/- p.m. (not ranking for any

42. Voluntary Cessation:

In partial modification of Clause 33 of Settlement dated 2nd June, 2005, employees who have ceased to be in service of the Bank under voluntary cessation shall be eligible for PF, gratuity, Pension, and Leave encashment benefits, if otherwise eligible.

With effect from 1st November, 2020 employees who cease to be in service under voluntary cessation, may be given an opportunity to represent to the management and the management may consider the same on merits.

43. Hours of work and weekly off:

In partial modification of Clause 14.2 of Settlement dated 19th October, 1966, the hours of work of full-time workmen employees exclusive of lunch recess period shall be as specified below:

Category of employee Hours of work per day from Monday to Saturday
(a) Employees other than members of the subordinate staff (b) Members of the subordinate staff other than Drivers and Watch and Ward staff (c) Watch and Ward staff (d) Drivers 6 1/2 hours 7 hours 8 hours 7 1/2 hours

Note: As provided in Clause 14.5 of Settlement dated 19th October, 1966, the hours of work of a member of the watch and ward staff shall be 8 hours in a period of 24 hours provided that the hours of work of a Watchman-cum-Peon for the period during which he works as a peon, as also of a peon, for the period he is required to work as a Watchman or Armed Guard shall be the same i.e. 7 hours as laid down in Sub Clause (b) above.

Provided further that second and fourth Saturday of every month shall be public holidays for all the Banks in addition to all Sundays as provided in Clause 38 of Settlement dated 25th May, 2015.

44. Special provision for State Bank of India

  1. The provisions of Settlements dated 30th January, 1995 and 22nd July, 2003 relating to Special Compensatory Allowance (SCA) as prevailing in the Bank shall be continued unchanged.
  2. The disposal of the balancing cost of pension in respect of State Bank of India arising out of this Settlement shall be decided by the bank with the concurrence of Government of India.

45. Disciplinary Action and procedure thereof:

In partial modification of Bipartite Settlement dated 10th April, 2002, the following modifications shall be incorporated therein and shall be effective from 1st November, 2020: Click here to read more………

46. Implementation

The various provisions of this Settlement shall take effect from the dates specified hereunder, unless provided to the contrary and the financial benefits emanating therefrom shall be given effect to within a period of 90 days from the date of this Settlement.

With effect from
1. Scales of Pay: Basic Pay as per Clause 4 1st November 2017
2. a)      9th Stagnation Increment and

b)      Pre-ponement due to change in periodicity

  • Notional benefit
  • Monetary benefit
1st November 2017

1st November 2017

1st November 2017

3. Professional Qualification Pay/ Graduation Pay 1st November 2017
4. Special Pay as per Schedule II Part A 1st November, 2017
5. Dearness Allowance, House Rent Allowance, Fixed Personal Pay, Special Allowance, Transport Allowance, Annual Medical Aid, Hill & Fuel Allowance, 1st November 2017
6. a) Provident Fund & Pension,

b) Family Pension, & New Pension Scheme

1st November 2017

(Effective date as per Government approval)

7. a) Cycle Allowance, Split Duty Allowance, Project Area Compensatory Allowance, Washing Allowance,

b) LFC, Halting Allowance, Compensation on Transfer, Compensation for losses due to breakage or damage to goods on transfer, Reimbursement of Expenses on Road Travel,

1st November, 2017

1st November, 2020

8. Improvements in Leave benefits – Clause 33 to 38 1st November, 2020
9. Annual encashment of Privilege Leave 1st November, 2020
10. Performance Linked Incentive Scheme From FY 2020-21
11. Deployment 1st November, 2020
12. Disciplinary action & procedure thereof 1st November, 2020

47. Date of Effect and Operation

  1.  This Settlement shall be binding on the parties for five years from  1st November 2017.
  2. The terms and conditions hereof shall continue to govern and bind the parties even thereafter until the Settlement is terminated by either party giving to the other a statutory notice as prescribed in law for the time being in force.
  3. The All India Bank Employees’ Association, the National Confederation of Bank Employees, the National Organisation of Bank Workers and the Indian National Bank Employees Federation on behalf of the workmen agree that during the operation of this Settlement, the workmen will not for any reason whatsoever, raise any demand of any nature whatsoever on any of the banks in respect of matters, monetary or otherwise, covered by this Memorandum of Settlement.
  4. Copies of the Memorandum of Settlement will be jointly forwarded by the parties to the authorities listed in Rule 58 of the Industrial Disputes (Central) Rules, 1957 so that terms and conditions thereof are binding on the parties as provided in law.

48. Interpretation

If there is any difference of opinion regarding interpretation of any of the provision of this Settlement the matter will be taken up only at the level of the Indian Banks’ Association, the All India Bank Employees’ Association, the National Confederation of Bank Employees, the National Organisation of Bank Workers and the Indian National Bank Employees Federation for discussion and settlement.

Note: The following Banks which existed as on 1-11-2017 and had given mandate to be covered by this Settlement have since been merged and amalgamated as under and are accordingly covered by this Settlement:

Name of the Bank Merged & amalgamated with

1. Dena Bank – Bank of Baroda w.e.f. 1-4-2019
2. Vijaya Bank – Bank of Baroda w.e.f. 1-4-2019
3. Allahabad Bank – Indian Bank w.e.f. 1-4-2020
4. Andhra Bank – Union Bank of India w.e.f. 1-4-2020
5. Corporation Bank – Union Bank of India w.e.f. 1-4-2020
6. Syndicate Bank – Canara Bank w.e.f. 1-4-2020
7. Oriental Bank of Commerce – Punjab National Bank w.e.f. 1-4-2020
8. United Bank of India – Punjab National Bank w.e.f. 1-4-2020

(SCHEDULE – II & III) GRADUATION PAY/ PROFESSIONAL  QUALIFICATION  PAY and SCHEDULE – III – FIXED PERSONAL  PAY  Click here to read more………

(SCHEDULE – IV and V)- LEAVE RULES [Privilege Leave, Maternity Leave, Paternity Leave, Sick Leave, Special Casual Leave, Extraordinary Leave, Annual encashment of Privilege Leave, Performance Linked Incentive Scheme]  Click here to read more………

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