In todays meeting between IBA and UFBU ( Workmen unions only), Workmen payscales are finalized which is to be implemented in 10th Bank Bipartite Settlement.

Check out the summary of the meeting below:

:: Scale of pay finalized::
Clerks: 11765 to 31540
Substaff: 9560 to 18545
(20 stages)

::8 STAGNATION increments.
5 once in 3 years and
3 once in 2 yrs –

::8th stagnation Increment w.e.f. 1.5.2015

:: DA – 0.10% per slab

:: HRA – 10%, 9% and 7.50%
(Only 3 areas. 3rd and 4th clubbed)

:: Transport – upto stage-15 – 425
stage 16 & above – 470

:: Medical – 2200

:: Special Allowance @ 7.75% of Basic Pay with DA thereon.

::Final Settlement may be signed on 25th. –

Wait for detailed circular.

Check out the complete post about 10th Bank Bipartite settlement here.