New Update About Bipartite Statement IBA Confirmed


Authorities of IBA have confirmed New update on the 11th Bipartite Settlement Situation. They have told that there will be a change in monthly wages of employees of Government Banks. But UFBU demand was to get about 20%. So now anyone in the field of government banking will receive more salary than he used to get. This is a permanent order by the Government, according to the Bipartite Settlement.

What is Bipartite Settlement?
Bipartite settlement is an agreement between the IBA and UFBU. UFBU represents its demands according to the bank employees, but IBA has power to decide which demands has to be accepted. IBA is a body works from the side of the Government. Government has given the power to the IBA. UFBU is a Union body works on the side of the Bank employees.

Demands According to the UFBU
  1. Weekends off.
  2. Increase in Family pension
  3. Increase in public welfare funds.
  4. Same wage for the business representative.

Above Information is taken from the newsjen's bipartite blog. You can read their blog for more information on this topic.

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