IBOC issued its circular No.43 on wage revision

IBOC issued its circular No. 43 on wage revision. We are reproducing the circular here for our readers.

CIRCULAR NO:43 Date: 05.04.2010



With further reference to our Circular No. 42 dated 3.04.2010, we furnish the following additional data for information of our members.

a) A chart showing the present and revised scales from JMGS-I to TEG Scale VII is
enclosed. The fitment will be on stage to stage basis.

b) Additional stagnation increments will be granted after three years from drawing the last stagnation increment. Similarly 2nd additional stagnation increment will be granted three years after drawing the first additional stagnation increment. Those who have completed more than 6/3 years of service as on 1.11.2007 after drawing last stagnation increment in the existing scale, will be granted Two/One additional stagnation increment with effect from 1.11.2007.

c) D.A. Chart w.e.f 1.11.2007 for various scales is enclosed.

d) C C A is frozen, hence existing CCA will continue to be paid

e) H R A payable w. e. f. 1.11.2007 is enclosed

f) Revised Hill & Fuel allowance is as follows
2% of B.P. Max Rs. 550/- PM
2.5% -- // -- ---- Rs. 680/- PM
5% ---//-- ---- Rs. 1570/- PM

g) Project area allowance
Group .A. centers ---- Rs. 290/- PM
Group .B. Centers ---- Rs. 255/- PM

h) FPP, PQP and Split Duty Allowances are being revised. The details will be advised in due course.

The meeting with four officers. organizations and Core Committee of IBA commenced on 03.04.2010 at 5.pm. Hectic parleys up to the last minute were made by us with the IBA officials to improve upon the various components of salary and allowance. Finally representatives of Officers. Associations and the Core Committee members initialed the distribution chart of wage load which is the basic foundation to arrive at the revised scales and allowances. S/Shri K. Ramakrishnnan, CEO, K. Unnikrishnan Dy. CEO, B.B. Das CGM (HR) SBI, K. Venugopal, Special Officer represented the IBA.

Com. K.S. Shetty, President and Com. G.D.Nadaf General Secretary representated
AIBOC. On behalf of the four Officers. organizations. Com. G.D. Nadaf, Convenor, led the team. The moment initials were affixed to the distribution chart, messages were flashed throughout the country to share the joyous moment. A large number of members who gathered outside the IBA office were eager to know the details and thank the leadership for their relentless efforts in clinching one of the best bipartite settlements in the industry.

It is proposed that next round of discussion on residual issues be held on 9th and 10th April 2010 to finalise the joint note for officers. The UFBU will hold a meeting with IBA on 12.04.2010 to finalize the draft settlement on pension related issues. We expect that by 15th April 2010, final settlement on pension and salary revision will take place.

Comrades we once again compliment all of you for the maturity, conviction and commitment displayed towards the confederation. Thanks for your greetings/ messages. Let us march on to celebrate the 9th Bipartite along with our Silver Jubilee Celebrations in a grand style.

All is well, that ends well. Kindly wait for the defining moment in the history of bipartite settlements on Salary Revision and another Option for Pension.

With greetings


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