10th Bipartite Settlement – Indian Banks Association (IBA) agreed for a 15% rise in wages. Banks will also henceforth remain closed on alternate Saturdays.
There was immense confusion among Bank Officers and Clerks whether Saturday off would be implemented from Nov 2012 or since 23-02-2015.
IBA has also agreed for a two Saturday holiday with retrospective effect from November 2012. The arrears for the Saturdays worked will also paid with retrospective effect from November 2012.
Union Says “Saturday remaining closed is also a cost to the bank. We will also get arrears for Saturdays worked 2012 with retrospective effect.”