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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