Dear Bankers are you looking to know about 12th Bipartite Settlement Demands ? If yes then you came to right blog/article.
In this article you get to know about 12th Bipartite Settlement Demands. This article is written after referring and reading charter of demands submitted to Indian Bank Association on 21st October 2022 and other 7 articles related to this subject.
12TH BIPARTITE SETTLEMENT DEMANDS: WHAT BANK EMPLOYEES WANT
The banking sector is important for the economy, and bank employees play a crucial role in providing financial services. They have certain expectations from their employers, and these expectations are discussed during negotiations called the 12th Bipartite Settlement. In this article, we will look at the demands put forward by bank employees and why they are important for their work and benefits.
UNDERSTANDING THE 12TH BIPARTITE SETTLEMENT
The 12th Bipartite Settlement is an agreement between bank employees and management. It covers things like salary revisions, allowances, and working conditions. The goal is to find a balance between what employees want and what banks can afford.
KEY DEMANDS OF BANK EMPLOYEES
Increased Basic Pay
Bank employees want their basic pay to be increased to match the salaries of Central Government officers, RBI officers, and LIC officers. This will ensure fair compensation and bridge the wage gap.
Change in Calculation Base Date
The calculation for wage revision should be based on the establishment expenditure as of September 30, 2022, instead of March 31 of the revision year. This will provide a more accurate assessment of the wage revision.
Merger of Dearness Allowance
The demand is to merge the Dearness Allowance (DA) up to August 1, 2022, with the existing pay scales. This will simplify the payment structure and ensure consistency.
Merging of Special Allowance
The Special Allowance, along with the DA as of October 31, 2022, should be merged with the current Basic Pay. This will streamline the payment structure and improve overall salary components.
Revised DA Formula
A revised DA formula is requested, with automatic merger with Basic Pay, similar to the Central Government’s approach. This adjustment will provide better compensation against rising prices and maintain employees’ purchasing power.
Conversion of Stagnation Increments
All existing Stagnation Increments up to Scale V should be converted to regular increments after one year of reaching the maximum of the current scales. This change will remove the current anomaly in promotions.
Sanction of Annual Increments
Annual increments should be sanctioned on January 1st and July 1st of each year, providing clarity and consistency in salary increments.
Removal of Embargo
The current embargo on sanctioning stagnation increments, automatic movement, increments in the next higher scale, and certain promotion-related factors should be removed. This change aligns with principles of fairness and avoids imposing major penalties on employees.
Revision of Housing Rent Allowance (HRA)
The demand is for an increase in HRA to match market rent, providing better housing support to employees.
Introduction of Self-Lease for Officers
Officers should have the option to lease accommodations on their own, giving them flexibility and choice in housing arrangements.
Increase in City Compensatory Allowance (CCA) and Location Allowance
Substantial increases in CCA and Location Allowance are sought to address the cost of living differences in different locations.
Enhanced Learning Allowance
The Learning Allowance should be significantly increased to support employees’ professional development and encourage continuous learning.
Quarterly Payment of Closing Allowance
The Closing Allowance, which compensates officers for increased workload at the end of each quarter, should be paid every quarter.
Improved Compensation for Transfers
The compensation amount for transfers should be increased, and two months’ salary should be provided to cover incidental expenses related to transfers.
Education Expenses for Transfers
A lump sum amount equivalent to three months’ gross salary should be given to cover the education expenses of children during mid-academic transfers.
Review of Allowances
A review and rationalization of expenses such as halting, boarding, traveling, hill area allowance, and other related allowances should be conducted.
Incentives for Rural and Sensitive Areas
Introduce incentives for officers serving in rural and other sensitive/difficult areas to compensate for the challenges and encourage their service.
Special Allowances for Specific Regions
Improve special area allowances and compensatory allowances for regions like Northeast, Jammu, Kashmir, Himachal, Leh, Ladakh, Uttarakhand, and red corridor/disturbed areas.
Enhancement of Leave Fare Concession (LFC)
Improve Leave Fare Concession and allow air travel for all officers, including international travel within domestic entitlement.
Provision for Women Employees
Introduce special provisions for women employees, including placement and postings, crèche facilities, flexible timings, work-from-home options, and child care leave with salary as applicable in the Central Government.
Introduction of 5-day Work Week
Implement a 5-day work week to provide employees with a better work-life balance.
Defined Working Hours
Clearly define and regulate working hours for officers, following the International Labour Organization (ILO) norms.
Increased Income Criteria for Dependents
Substantially increase the income criteria for dependents of employees, ensuring better coverage and support.
Provident Fund and Gratuity
Revise the Provident Fund contributions to 12% of the total salary and allowances and improve the gratuity payment to one month’s salary and allowance without any limit. Align these benefits with Central Government norms and the principle of One Rank One Pension.
Rollback to Existing Pension Scheme
Allow employees under the National Pension System (NPS) to roll back to the existing pension scheme, providing them with more security and benefits.
Pension for Resigning Employees
Extend the pension scheme to employees who opt for resignation, ensuring financial security even after leaving the job.
Updation of Pension
Update pension amounts in line with Central Government norms and the principle of One Rank One Pension.
Encashment of Leave at Credit
Permit employees to encash their entire leave balance upon resignation.
Improved Leave Facilities
Enhance all leave facilities and introduce concepts like leave bank to provide employees with better leave management options.
Bank-Level Implementation of Medical Insurance
Roll back the IBA Medical Insurance scheme for serving officers and retirees and allow individual banks to implement policies based on their specific requirements.
Uniform Loan and Advance Policies
Adopt the best loan and advance policies to ensure uniformity across banks. Additionally, banks should pay the road tax on vehicles during inter-state transfers.
Review of Disciplinary Rules
Review the disciplinary rules and procedures, allowing personal hearings for officers facing major penalty proceedings and providing a defense representative.
Classification of Lapses
Categorize lapses into major and minor penalties, ensuring appropriate and proportionate disciplinary actions.
Ex Post Facto Principle
Clarify that alleged lapses committed by an employee as a workman should be tried under bipartite rules, not under officer’s disciplinary regulations, if detected when the employee holds an officer position.
Legal Expenses Coverage
Banks should fully cover legal expenses for cases related to banking work, excluding charges of fraud, against both serving and retired officers.
Increased Welfare Allocation
Increase the allocation for staff welfare activities from the current ceiling of 3% of net profit to 5% of operating profit without any limit.
Uniform Branch Categorization
Establish uniform branch categorization by the Indian Banks’ Association (IBA) and Reserve Bank of India (RBI) for all banks.
Massive Recruitment
Conduct massive recruitment drives to hire officers, clerical staff, subordinate staff, and security guards to meet the staffing requirements.
Compassionate Ground Appointments
Complete appointments on compassionate grounds within six months to provide timely support to employees in need.
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Video Credit: Anil Aggarwal
CONCLUSION
Dear Readers in this article you know about 12th Bipartite Settlement Demands. The 12th Bipartite Settlement is a negotiation between bank employees and management to address their demands. Bank employees want higher salaries, better benefits, fair promotions, and good working conditions. Fulfilling these demands is important for keeping employees happy and ensuring a strong and productive banking sector.