According to the 11th Bipartite wage settlement, officers and staffs will receive a 15 raise in the pay slip component and also from FY21 a performance linked incentive (PLI) that public sector banks will implement. This provision will be effective from November 1, 2017 to October 31, 2022.
The purpose of this settlement is to improve the condition of the employees for their better cooperation in the public sector. In 1964, from the Trivandrum Conference of AIBEA, it was a call that was given to launch a bitter struggle asking for bilateral talks and Bipartite settlement in 1966.
Since then, there has been few changes over the years in this settlement. But finally, with the latest 11th Bipartite settlement has been the most successful one so far. There were a lot of members working under this settlement while aiming for the successful outcome. Prabhat Kar and H.L Parvana are the founders of bipartite settlement in the banking system.
- PL which stands for privilege leave will be given with prior notice of 10 days.
- In the entire service of 30 years sick leave will be given for 720 days. Additional sick leave will be given 1 month per year.
- In case of women employees, they can apply for leave in case their children fall sick. This can be done if the children are within 8 years of age and with an authentic medical certificate.
- Maternity leave is also available in addition to other leaves.
- Maternity leave can be given up to 6 weeks in case of miscarriage and abortion it can be extended till 6 months, in an overall period of 12 months.
- There are more ordinary leaves available on loss of payment which can be available for 120 days at a time.
- Paternity leave can be issued on the ground of child adoption. For PWD, special CL of 4 days per year.
- Absence from office due to special cases like curfew, riots, natural calamities, flood, etc. will be considered as a special leave.
- Maternity leave in case of adoption of one child, the employee will get a leave for maximum period of 9 months.
- Maternity leave for the delivery for twin children will be of 8 months.
-Clause 5 U), from the date of tis settlement, shall read as under: doing any act of gross negligence or negligence involving or likely to involve the bank in serious loss.
-New clause 7 (q) shall be added as under; doing any act prejudicial to the interest of the bank. (Minor Misconduct)