12th bipartite settlement: The 12th Bipartite Settlement

The 12th Bipartite Settlement , signed on March 8, 2024, brings substantial benefits like a 17% salary hike and work-life balance improvements but falls short on some union demands, particularly around pensions and retiree benefits. This Group is Formed for bankers for providing latest updates of 12th Bipartite settlement & banking updates to all bankers. The 12th bipartite settlement , which was concluded on March 8, 2024, in Mumbai, is a landmark agreement between the Indian Banks Association (IBA) and the United Forum of Bank Unions (UFBU). It comes into effect on November 1, 2022, and is valid till October 31, 2027, and provides a 17 per cent salary increase with a 3 per cent load factor to officers, clerks, and sub-staff in the public sector banks. Major changes are 5-day working week, changes in allowances and improved leave policies, e ... HR & Industrial Relations 12th BPS MOU dt 19.07.2023 11th BPS 9th BPS 8th BPS BPS 2015 BPS 2015 BKSM 12 Bipartite UFBU 12 Bipartite BKSM