All India Bank Employees Association ( AIBEA ) is the largest and oldest trade union of bank employees in India. It is one of the premier trade unions in our country. Discussions were held between the Indian Banks’ Association representing management of Banks and the authorized representatives of Four Officers’ Associations viz., All India Bank Officers Confederation, All India Bank Officers’ Association, Indian National Bank Officers’ Congress and National Organization of Bank Officers on wage revision for officers in banks.
After holding several rounds of discussions, the parties have mutually agreed as under:
1. The wage revision will be effective from 1.11.2007
2. The annual wage increase will be Rs.2239 crores
3. The additional cost of pension on account of wage revision in excess of statutory contribution of 10% of pay will be shared equally between management and employees [13% of pay each] and the share of employees so calculated will be deducted from the agreed wage increase while revising salary and allowances.
4. All other issues of the Management and Association discussed during the process of negotiation will be settled to the mutual satisfaction.
5. The parties will meet on mutually convenient dates to draw out a detailed Joint Note on the various issues on which consensus positions have been reached. The parties will endeavour to finalise the Joint Note within a period of ninety days from the date of this minute.
AIBEA is guided by its twin policies of
(a) Progress of the banking industry to enable it to play its due role in national development and
(b) Protecting and promoting the interest of the bank employees.
AIBE Live updates news checked in the below link……
AIBEA Central Office
Prabhat Nivas, Singapore Plaza
164 Linghi Chetty Street
Chennai – 600 001 India
Ph: 044 25351522, 044 65431566
Fax: 044 25358853
ALL INDIA BANK OFFICERS’ ASSOCIATION
"A.K.Nayak Bhavan" 14, Second Line Beach,
Second Floor, Behind G.P.O, CHENNAI 600001.