Indian Banks’ Association (IBA) signs pact with Bank Unions Monday Feb 23,2015

The Indian Banks’ Association (IBA) on Monday Feb 23,2015 said that it concluded the 10th Bipartite Wage Negotiations with Bank Unions and Associations to be effective from November 1, 2012.

“The agreement reached at IBA today, provides for 15 per cent increase in pay slip,” said IBA Chairman T.M. Bhasin

As per the agreement reached, the second and fourth Saturdays of every month will be holidays and the remaining Saturdays will be full working days.

“Both sides agreed to work out detailed Bipartite Settlement/ Joint Note within a period of 90 days,” he added.

UFBU representing five workmen unions and four officers associations, NUBE and BKSM were parties to Monday’s agreement.