2) Stagnation IncrementsĪ) 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 are presently eligible for four stagnation increments.
on corresponding stages from 1st stage onwards and the increments shall fall on the anniversary date as usual.
1st half os 2017 music bank full#
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.įitment: Fitment shall be stage-to-stage, i.e. Clarification, etc., in any of the provisions contained herein the Joint Note and its Annexures will be provided by IBA.ħ. The Officers’ Associations on behalf of the officer-employees in banks listed in Annexures II & III agree that the understandings reached as detailed in Annexure I hereto are in full satisfaction of their demands.Ħ. IBA has agreed to make suitable recommendations to the Government in this regard for its consideration.ĥ. IBA may advise the banks to disburse immediately an ad-hoc amount, equivalent to the net arrears payable for the period from 1st November 2017 to 31st October, 2020 by deducting ad-hoc amount paid in this connection and continue to pay proposed revised salary and allowances on ad-hoc basis. The representatives of Officers’ Associations have requested that pending formal amendments to the Officers’ Service Regulations/ Rules as per procedure laid down under Section 19(1) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 and the applicable provision of State Bank of India Act, 1955.
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.Ĥ. The IBA shall also recommend to the Government of India to approve the amendments and to issue appropriate guidelines necessary for this purpose. 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, in order to implement what is stated in Annexure I. 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.Ģ. The outcome of the discussions acceptable to both sides is listed in Annexure I to this Note. In the course of the deliberations, common viewpoints have emerged between the two parties. 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. JOINT NOTE Dated SALARY REVISION FOR OFFICERS Conclusion of Discussions between the IBA and the Officers’ Associations Revision of Salary DA Increments HRA and Other Allowances Bank Officers w.e.f 1st Nov 2017: 11th BI-Partite Settlement Dtd.
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