Recent update: IBA have announced that they are going to increase the salaries of Government bank employees by 15% but the UFBA had demanded 20% increment. Decisions on the 5day banking, increase in pension, same wage for same work, has to be taken yet. There are still many procedures has to be done yet. After all the procedures,  IBA and UFBA will jointly sign Bipartite Settlement for the bank employees of the Public sector banks. We are talking about 11th bipartite settlement development. 11th Bipartite settlement is due from 1 Novermber 2017 and it is still under negotiation.

Bipartite Settlement In Detail

After all the negotiation it will get signed by both parties. Already 2 years have been passed since the start of this negotiation. Because of Covid-19 this process can take more time. All the meetings related to this conversation are getting delayed. The previous 10th bipartite settlement had taken about 3 years to get settled. It is also supposed to get solved in 2 - years but because of lockdowns it get postponed.
Read more on Harvard's bipartite blog.


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