HomeBank

Bank: IBA clarification on Stagnation Increments to Non-Subordinate Employees

IBA has released a Clarification circular on 6th, 7th, 8th Stagnation Increments on 19.09.2015. Note: it is a clarification circular only.  There is no change in the provisions already signed.

HR & INDUSTRIAL RELATIONS
IBA CIRCULAR

No.HR&IR/ClR/2015-16/B/90/1377
September 19, 2015

Designated Officers of Member Banks
who are parties to Bipartite Settlement

Dear Sir/Madam,

10th Bipartite Settlement (1.11.2012 to 31.10.2017):Stagnation Increments to Non-Subordinate Employees

As per the provisions of 10th Bipartite Settlement, it has been agreed to reduce the periodicity of 6th stagnation increment from 3 years to 2 years and to introduce 8th stagnation increment w.e.f. 13th May, 2015. 8th stagnation increment is to be released after two years on receipt of 7th stagnation increment or from 19th May, 2015 whichever is later. Keeping in view the cost constraints, it was further agreed that the consequential financial benefit to the employees could be released from 13th May, 2015. There is no change in periodicity of releasing the 7th stagnation increment and 7th stagnation increment is released after two years on receipt of 6th stagnation increment. In other words, an employee would be eligible for 8‘“ stagnation increment, 6 years after receipt of 5th stagnation increment or w.e.f. 18th May, 2015, whichever is later.
However, the employees who have got 6th and 7th stagnation increments on or after 18th November, 2012 but before 13th May, 2015 as per 9th Bipartite Settlement, would get 8th stagnation increment, 7 years after receipt of 5th stagnation increment, if the weightage of one year on account of reduction of periodicity of 6th stagnation increment from 3 years to 2 years as per 10th Bipartite Settlement is not given to such employees. As a result, these employees would be placed in a disadvantageous position vis-a-vis the employees junior to them.
2. The Workmen Unions have therefore, requested us to clarify the position without any ambiguity.
3. We have examined the matter and clarify that the employees who have completed two years or more as on 15th November, 2012, after receipt of 5th stagnation increment, would be eligible for 6th stagnation increment w.e.f. 1st November, 2012, notionally, however, monetary benefit to such employees will be given 3 years after receipt of 5th stagnation increment or w.e.f. 1st May, 2015 whichever is earlier. Similarly, 7th stagnation increment will be released notionally 2 years after notionally release of 6th stagnation increment and monetary benefit of 7th stagnation increment will be released 2 years after receipt of monetary benefit of 6th stagnation increment or w.e.f. 1st May, 2015 whichever is earlier. 8’h stagnation increment will be released 2 years after notionally release of 7th stagnation increment or w.e.f. 1st May, 2015 whichever is later. The case may be clearly understood by following illustrations:

Illustration – I: Date of Receipt of 5th Stagnation Increment: 01/10/2010

Position as per 9th
bipartite Settlement
Position as per 10th
Bipartite Settlement
Stagnation Increment Due Date of Release Notional Date of Release Date of Monetary Benefit
6th 01/10/2013 01/11/2012 01/10/2013
7th 01/10/2015 01/11/2014 01/05/2015
8th 01/11/2016 01/11/2016

Illustration – II: Date of Receipt of 5th Stagnation Increment: 01/10/2011
 

Position as per 9th
bipartite Settlement
Position as per 10th
Bipartite Settlement
Stagnation Increment Due Date of Release Notional Date of Release Date of Monetary Benefit
6th 01/10/2014 01/11/2013 01/10/2014
7th 01/10/2016 01/11/2015 01/10/2015
8th 01/11/2017 01/10/2017

Illustration – III: Date of Receipt of 5th Stagnation Increment: 01/10/2012
 

Position as per 9th
bipartite Settlement
Position as per 10th
Bipartite Settlement
Stagnation Increment Due Date of Release Notional Date of Release Date of Monetary Benefit
6th 01/10/2015 01/10/2014 01/05/2015
7th 01/10/2017 01/10/2016 01/10/2016
8th —- 01/10/2018 01/10/2018

4. Please arrange accordingly.

Yours faithfully,

Sd..K Unnikrishnan
Deputy Chief Executive

Source: http://banknewskumar.blogspot.in/2015/09/iba-has-released-clarification-circular.html

Stay connected with us via Facebook, Google+ or Email Subscription.

Subscribe to Central Government Employee News & Tools by Email [Click Here]
Follow us: Twitter [click here] | Facebook [click here] Google+ [click here]
Admin

COMMENTS

WORDPRESS: 4
  • S Raghupathy 3 years ago

    I rec’d 5th stg from Feb 2006,
    6th stg from Feb 2009 and
    7th from Feb 2011.
    I retired on 31.10.2013.
    Inform my eligibility of :
    8th stg increment : 1.11.2012 or 1.02.2013
    Pension purpose : 1.11.2012 or 1.02.2013
    What is due date for monetary benefit and notional date for pension purpose.

  • Unknown 4 years ago

    7th stagnation increment wef on 01/05/12.wgat will be notional date of 8th stagnation increment.date of retirement is 31/05/15?

  • Unknown 4 years ago

    I got 7th stagnation increment on 01/05/2012.m I elegible for notional increment wef01/05/14.i retired from bank's service on 31/05/15

  • Anonymous 6 years ago

    IBA & U.F.B.U. should reopen the 10th bipartite settlement relating to 8th Stagnation Increment to very senior employees as Juniors are getting the benefit which are not available to Seniors. For example:- a senior employee who got 5th, 6th stg. increment in June 10 & June 13 respectively will get 7th from 01-05-2015 & if he retires anytime from may 15 to may 17, he will not get benefit of 8th STG. increment which is against "an accepted & followed over 4 decades" principle that Seniors should not be put at loss against Juniors. Please consider this.