Good news to bank employees.. IBA has agreed for merger of Dearness Allowance with the existing Basic Pay as on 1.11.2011. During the course of the talks, the IBA has agreed to fix the 01.11.2011 as base date for merger of Dearness Allowance with the existing Basic Pay. As on 01.11.2011, the Dearness Allowance was 60.15%. 10th bipartite settlement for bankers is due from 01.11.2012.
There is no news regarding the increment in this wage revision. Going by the expectations and the present mood of the ordinary members, we can very well say, anything below 25% will not be acceptable and hence may be rejected outright by a majority of them. If the Trade Union leaders settle for anything less, they face the prospect of being overthrown lock, stock and barrel, by their own fraternity.
According to this Base Date for Merger of Dearness Allowance with the existing Basic Pay of Bank Employees 10th bipartite settlement, Newly recruited PO salary will be 38,000 to 40,000 per month. Newly recruited Clerk salary will be 21,000 to 23,000. I will write detailed post to explain the wage revision calculations if you are interested to know. So, no need to think about your salaries, just prepare well to get placed in any PSU Bank. All The Best!..