India IBA Wage Revision Officers 2010
India IBA Wage Revision Officers 2010
India IBA Wage Revision Officers 2010
The Negotiating Committee of Indian Banks’ Association (IBA) representing the managements
of banks held several rounds of discussions with the authorised representatives of the Officers’
Associations on salary revision and other issues concerning service conditions for officers in
Banks. In the course of the deliberations, common viewpoints have emerged between the two
parties. The outcome of the discussions acceptable to both sides is listed in Annexure I to this
Note. The representatives of the Officers’ Associations have also agreed that the existing
service conditions be modified to the extent what has been stated in Annexure I.
2. The representatives of the Officers’ Associations, a part of United Forum of Bank Unions
(UFBU) and IBA entered into a Memorandum of Understanding on 25th February 2008 on
various issues. Extending another option for pension to those who did not opt for pension when
Bank Employees’ Pension Regulations, 1995 dated 29th September 1995/ 26th March 1996 were
implemented was one of the issues to be considered. After several rounds of discussions and
valuing the liability through an actuarial calculation, it is agreed to extend another option to join
the pension scheme to those who did not opt for pension when Bank Employees’ Pension
Regulations, 1995 dated 29th September 1995/ 26th March 1996 were implemented, on the terms
and conditions agreed and incorporated in the Joint Note dated 27th April 2010 signed between
the parties.
3. IBA agreed that it shall recommend to the Public Sector Banks, as in Annexure II, to initiate
the process of amending the Officers’ Service Regulations and Bank Employees’ Pension
Regulations, 1995 dated 29th September 1995/ 26th March 1996, in order to implement what is
stated in Annexure I. The IBA shall also recommend to the Government of India to approve the
amendments and to issue appropriate guidelines necessary for this purpose.
4. IBA shall take steps to recommend to the Private Sector Banks which are listed in Annexure
III and which have authorised the IBA in this regard, to give effect to the salary revision for their
officers upto Scale III on the same lines as mentioned in Annexure I.
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19(1) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980,
IBA may advise the banks to disburse immediately an ad-hoc amount, equivalent to the net
arrears payable for the period from 1st November 2007 to 30th April 2010 and continue to pay
revised salary and allowances on ad-hoc basis. IBA has agreed to make suitable
recommendations to the Government in this regard for its consideration.
7. Management proposed that a scheme for introduction of performance linked variable pay in
addition to fixed pay be considered as part of this wage revision exercise to increase efficiency
in operations. After preliminary discussions, it was decided to pursue the matter further.
8. Representatives of the Officers’ Associations have assured full co-operation on their part,
their affiliates and members, in implementation of measures aimed at improving customer
service, optimum utilisation of manpower, expansion of banking activities to take on the
competition and challenges confronting the industry and maintenance of healthy and harmonious
industrial relations in the banking industry.
Mumbai
Dated : 27th April 2010
For Indian Banks’ Association For All India Bank Officers’ Confederation
(S/Shri) (S/Shri)
M V Nair K S Shetty
R Sridharan G D Nadaf
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K Ramakrishnan P K Sarkar
K Unnikrishnan T N Goel
M Venugopalan S K Kohli
K Ramakoteswara Rao
G Muthuswamy
K D Kheda
Alok Khare
R J Sridharan
3
S Nagarajan
D K Pauddar
Sidharth N Dutta
K K Nair
L R Prem Kumar
Subhash W Choudhari
V Ramamohan Reddy
M S Bhagwat
4
A N Madhusudan
S K Rathod
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Annexure 1
1) Scales of Pay
Scale I - 14500 600 18700 700 20100 800 25700
7 2 7
Scale II - 19400 700 20100 800 28100
1 10
Scale III - 25700 800 29700 900 31500
5 2
Scale IV - 30600 900 34200 1000 36200
4 2
Scale V - 36200 1000 38200 1100 40400
2 2
Scale VI - 42000 1200 46800
4
Scale VII - 46800 1300 52000
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Fitment:
Fitment shall be stage-to-stage, i.e. on corresponding stages from 1st stage onwards and
the increments shall fall on the anniversary date as usual.
2) Stagnation Increments
a. Officers in JM Grade Scale I who have moved to scale of pay for MMG Scale II in
terms of Regulation 5(b) after reaching maximum of the higher scale shall be
eligible for four stagnation increments for every three completed years of service of
which first two shall be Rs.800/- each and next two Rs.900/- each.
Provided that officers who have completed three years or more after receipt of the
second stagnation increment as on 1.11.2007 will get the third stagnation increment
on 1.11.2007 and another stagnation increment on or after 1.11.2008 on their
completion of six years after receipt of second stagnation increment.
b. Officers in MMG Scale II who have moved to scale of pay for MMG Scale III in
terms of Regulation 5(b) after reaching maximum of higher scale shall be eligible for
three stagnation increments of Rs.900/- each for every three completed years of
service.
Provided that officers who have completed three years or more after receipt of the
first stagnation increment as on 1.11.2007 will get the next stagnation increment
with effect from 1.11.2007 and a subsequent stagnation increment on or after
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1.11.2008 on their completion of six years after receipt of the first stagnation
increment
Provided further those officers in substantive MMG Scale III i.e. those who are
recruited in or promoted to MMG Scale III shall be eligible for four stagnation
increments of Rs.900/- each for every three completed years of service. Those who
have already received two stagnation increments and completed more than three
years of service after receipt of second stagnation increment as on 1.11.2007 will get
the third stagnation increment on 1.11.2007 and the fourth stagnation increment, on
or after 1.11.2008 on their completion of six years after receipt of second stagnation
increment
3) Dearness Allowance
On and from 1.11.2007, Dearness Allowance shall be payable for every rise or fall of
four points over 2836 points in the quarterly average of the All India Average Working
Class Consumer Price Index (General) Base 1960=100 at 0.15% of Pay.
I II
i) Major “A” Class Cities and Project Area Centres in Group A 8.5% of Pay
ii) Other places in Area I and Project Area Centres in Group B 7.5% of Pay
iii) Other places 6.5% of Pay
Provided that if an officer produces a rent receipt, the House Rent Allowance payable to
him/her shall be the actual rent paid by him/her for the residential accommodation in
excess over 1.2% of Pay in the first stage of the Scale of Pay in which he/she is placed
with a maximum of 150% of the House Rent Allowance payable as per aforesaid rates
mentioned in Column II above.
Note:
The claims of officer employees for House Rent Allowance linked to the cost of their
ownership accommodation shall also be restricted to 150% of House Rent Allowance as
hitherto.
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5) City Compensatory Allowance
Maximum
Area Rate
Amount
i) Places in Area 1 and in the State of Goa 4% of Basic Pay Rs.540/- p.m.
6) Provident Fund
(a) While the officers who are presently covered under the Pension Scheme and those
who will join the Pension Scheme in terms of option being made available under
Joint Note dated 27th April, 2010 shall continue to contribute 10% of the Pay towards
Provident Fund, there shall be no matching contribution.
(b) Officers of State Bank of India will continue to be covered by Contributory Provident
Fund Scheme as hitherto.
(c) Officers who are presently covered under Contributory Provident Fund Scheme who
do not opt for Pension Scheme being made available under Joint Note dated
27th April, 2010 shall continue under the Contributory Provident Fund Scheme as
hitherto.
(d) There shall be no Provident Fund to officers joining the services of banks on or after
1st April 2010. They shall be covered by a Defined Contributory Pension Scheme,
where the officer will contribute 10% of Pay plus Dearness Allowance and the bank
will make a matching contribution. The Scheme shall be governed by the provisions
of the Contributory Pension Scheme as introduced for employees of Central
Government w.e.f. 1st January 2004 and modified from time to time.
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relevant provisions of the Bank Employees’ Pension Regulations, 1995 dated
29th September 1995/ 26th March 1996 shall be carried out following the procedure in
this regard.
2. Further to Clause 6 of the Joint Note signed on 2nd June 2005 between
representatives of Officers’ Associations and IBA, it is agreed between the parties as
under:
(i) With effect from 1st May 2005, the pension of officers who retired or died while
in service during the period 1st April 1998 to 31st October 2002 will be re-fixed
based on the definition of ‘Pay’ as defined in Clause 5 of the Joint Note dated 14th
December 1999. No arrears of pension and commuted value of pension will be
payable on account of such re-fixing of pension.
(ii) With effect from 1st May 2005, the pension of officers who retired or died while
in service during the period 1st November 2002 to 30th April 2005 will be re-fixed
based on the definition of ‘Pay’ as defined in Clause 6 of the Joint Note dated 2nd
June 2005. No arrears of pension or commuted value of pension will be payable
on account of such re-fixation of pension.
3. Further to Clause 2(b) of the Joint Note dated 2nd June 2005, it is agreed between the
parties as under:
(i) On and from 1.5.2005, in the case of officers who retired during the period
1.4.1998 to 31.10.2002, dearness relief shall be payable for every rise or be
recoverable for every fall, as the case may be, of every 4 points over 1684 points
in the quarterly average of the All India Average Consumer Price Index for
Industrial Workers in the series 1960=100. Such increase or decrease in dearness
relief for every said four points shall be calculated in the manner given below:
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Scale of Basic Pension The rate of Dearness Relief payable as a
per month percentage of Basic Pension
(i) Upto Rs. 3550 0.24 percent
(ii) Rs.3551 to Rs.5650 0.24 per cent of pension exceeding Rs.3550 plus 0.20
per cent of the basic pension in excess of Rs.3550
(iii) Rs.5651 to Rs.6010 0.24 per cent of Rs.3550 plus 0.20 per cent of the
difference between Rs.5650 and Rs. 3550 plus 0.12
per cent of basic pension in excess of Rs.5650
(iv) Above Rs.6010 0.24 per cent of Rs. 3550 plus 0.20 per cent of the
difference between Rs.5650 and Rs.3550 plus 0.12 per
cent difference between Rs.6010 and Rs.5650 plus
0.06 per cent of basic pension in excess of Rs. 6010
(ii) In respect of retirees for the period 1.11.2002 to 30.4.2005 for whom pension has
been revised w.e.f. 1.5.2005 based on definition of pay in terms of Clause 6(2)of
the Joint Note dated 2nd June 2005, dearness relief shall be payable w.e.f.
1.5.2005 for every rise or be recoverable for every fall as the case may be of
every four points over 2288 points in the quarterly average of All India Average
Consumer Price Index for Industrial Workers in the series 1960=100 @ 0.18% of
the basic pension.
(iii) In respect of officers who retire on or after 1.5.2005, dearness relief shall be
payable for every rise or be recoverable for every fall, as the case may be, of
every four points over 2288 points in the quarterly average of the All India
Average Consumer Price Index for Industrial Workers in the series 1960=100, at
the rate of 0.18 per cent of basic pension.
(iv) In respect of officers who retired or died while in service on or after 1.05.2005
Dearness Relief shall be payable at 0.18% of 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 for every rise or fall of 4 points over
2288 points in the quarterly average of the All India Average Consumer Price
Index for industrial workers in the series 1960 = 100.
Note:
The Dearness Relief as above shall be payable for the half year commencing from the 1st
day of February and ending with 31st day of July on the quarterly average of index
figures published for the months October, November and December of the previous year
and for the half year commencing from 1st day of August and ending with the 31st day of
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January on the quarterly average of the index figures published for the months of April,
May and June of the same year.
8) Medical Aid
On and from 1st November 2007, reimbursement of medical expenses shall be as under :
a) Officers in JMG & MMG Scales–Rs.5100/-p.a.
9) Hospitalisation Expenses
On and from 1st May 2010, reimbursement of hospitalisation expenses under Regulation
24(1(b)(i) of Officers’ Service Regulations, 1979/1982, shall be in terms of the
Hospitalisation Scheme laid down under Bipartite Settlement dated 27th April 2010 for
workmen employees, subject to following limits:-
i. House rent recovery shall be @ 1.20 % of the first stage of the scale of pay in which
the officer is placed or the standard rent for the accommodation, whichever is less.
ii. Furniture rent recovery shall be @ 0.25% of the first stage of the scale of pay in which
the officer is placed.
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11) Fixed Personal Pay (w.e.f. 1.11.2007)
Fixed Personal Pay together with House Rent Allowance shall be at the following rates and
shall remain frozen for the entire period of service.
Note:
(i) F.P.P. as indicated in “C” above shall be payable to those officer employees who are
provided with bank’s accommodation.
(ii) F.P.P. for officers eligible for House Rent Allowance shall be “A” + “B” plus House
Rent Allowance payable on the last increment of the relevant scale of pay.
(iii)The increment component of F.P.P. shall rank for superannuation benefits.
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effect from 1st November 2007 or the date of acquiring such qualification/s,
whichever is later, released PQP as provided herein above.
On and from 1st May 2010, Deputation Allowance shall be at the following rates :
a) An officer deputed to serve outside the bank – 7.75% of Pay with a maximum
of Rs.2,300/- p.m.
b) An officer deputed to an organization at the same place or to the training
establishment of the bank – 4% of Pay with a maximum of Rs.1200/- p.m.
Provided that in the case of officers in Scale IV and above, halting allowance payable per
diem while on outstation work at the four metros, viz. Delhi, Mumbai, Kolkata and
Chennai, shall be Rs.1200/- and for officers in Scale I/II/III Rs.1000/-.
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(v) Mode of Travel and Expenses on Travel (w.e.f. 1.5.2010)
The following provisions shall apply wherever an officer is required to travel on duty :
(a) An officer in Junior Management Grade is entitled to travel by 1st Class or AC 2-tier
Sleeper by train. He may, however, travel by air (economy class) if so permitted by
the Competent authority, having regard to the exigencies of business or public
interest.
(b) An officer in Middle Management Grade is entitled to travel by 1st Class or AC 2-tier
Sleeper by train. He may, however, travel by air (economy class) if the distance to be
travelled is more than 1000 kms. He may, however, travel by air (economy class)
even for a shorter distance if so permitted by the Competent Authority, having regard
to the exigencies of business or public interest.
(c) An officer in Senior Management or Top Executive Grade is entitled to travel by AC
1st Class by train or by air (economy class).
(d) An officer in Senior Management or Top Executive Grade may travel by car between
places not connected by air or rail provided that the distance does not exceed 500 km.
However, when a major part of the distance between the two places can be covered
by air or rail only the rest of the distance should normally be covered by car.
(e) Any other officer may be authorised by the Competent Authority, having regard to
the exigencies of business, to travel by his own vehicle or by taxi or by the Bank’s
vehicle.
1. During each block of 4 years, an officer shall be eligible for leave travel concession
for travel to his place of domicile once in each block of two years. Alternatively, he
may travel in one block of two years to his place of domicile and in another block of
two years to any place in India by the shortest route.
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to encash his LTC shall prefer the claim for himself / herself and his / her family
members only once during the block / term in which such encashment is availed of.
The facility of encashment of privilege leave while availing of Leave Fare
Concession is also available while encashing the facility of LTC.
3. The mode and class by which an officer may avail of Leave Travel Concession shall
be the same as the officer is normally entitled to travel on transfer and other terms
and conditions subject to which the Leave Travel Concession may be availed of by an
officer, shall be as decided by the Board from time-to-time. Provided that w.e.f.1st
May 2010 an officer in Junior Management Grade Scale I while availing LTC will be
entitled to travel by air in the lowest fare economy class in which case the
reimbursement will be the actual fare or the fare applicable to AC 1st Class fare by
train for the distance traveled whichever is less. The same rules shall apply when an
officer in Middle Management Grade Scale II and Middle Management Grade Scale
III while availing LTC where the distance is less than 1000 kms.
If the income of one of the parents exceeds Rs.3,500/- p.m. or the aggregate
income of both the parents exceeds Rs.3,500/- p.m., both the parents shall not be
considered as wholly dependent on the officer.
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15) Mid Academic Year Transfer Allowance
On and from 1st May 2010, Mid Academic Year Transfer Allowance shall be payable at
Rs.700/- p.m. subject to other conditions.
20) The Officers’ Associations who are parties to this Joint Note have offered and agreed that
all officers in the service of the banks as on 27th April 2010 and who exercise their option
to join the Pension Scheme in terms of the Joint Note dated 27th April 2010 for the
purpose will contribute from their arrears on account of wage revision in terms of this
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Joint Note, an amount of Rs.922 crores towards their share in the amount of Rs.1800
crores offered by UFBU towards 30% of the estimated funding gap of Rs.6000 crores.
The said amount is worked out @2.8 times of the revised pay payable for the month of
November 2007.
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Annexure II
18
Annexure III
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Annexure IV
8. Tripura
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Sr. Allowances (Rs.)
Area Pay below Pay above
No. Rs.14,700/- Rs.14,700/-
1 2 3 4
11. Jammu & Kashmir
1) Kathua District:
b) Areas upto Goel from Kamban Side and areas upto 1600 2100
Arnas from Keasi side in Tehsil Mohre.
3) Doda District:
7) Areas not included in (1) to (6) above, but which are 1200 1500
within the distance of 8 kms. from the line of Actual
Control or at places which may be declared as
qualifying for border allowance from time-to-time by
the State Government for their own staff.
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Sr. Allowances (Rs.)
Area Pay below Pay above
No. Rs.14,700/- Rs.14,700/-
1 2 3 4
(b) Bharmour Tehsil, excluding Panchayats and Villages 1600 2100
included in (a) above.
(c) Jhandru Panchayat in Bhatiyat Tehsil,Churah Tehsil, 1200 1500
Dalhousie Town (including Banikhet proper).
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Sr. Allowances (Rs.)
Area Pay below Pay above
No. Rs.14,700/- Rs.14,700/-
1 2 3 4
(6) Kangra District:
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Sr. Allowances (Rs.)
Area Pay below Pay above
No. Rs.14,700/- Rs.14,700/-
1 2 3 4
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