During the course of 2 days’ discussion

Another round of wage negotiations between IBA and workmen’s unions has been held yesterday and today, preceded by a meeting of the unions with Dr Khandelwal Committee, on Human Resource matters in Public

During the course of 2 days’ discussion on wage related matters the followings items were finalized :

HRA – Where quarters are provided recovery of rent will be 0.50% of first stage of scale of pay.

LFC - One more option to change block of years. For encashment, employee to be on leave for, at least, 1(one) day.

Travel by own car with permission of the bank.

Special Area Allowance - In line with Government of India Notification.

FPP - Area I Area II Area III Area IV

Clerk Rs.940/- Rs.930/- Rs.920/- Rs.915/-

Sub Staff Rs.470/- Rs.465/- Rs.460/- Rs.460/-

At places where accommodation is provided by the bank : Rs 860 for clerks and Rs 430 for sub. staff and increment component in all cases Rs.800/- for clerk and Rs.400/- for sub staff.

Halting Allowance - Area I & II Area III Area IV

lerk Rs 500/- per diem Rs 375/-per diem Rs. 300/- per diem

Sub. Staff Rs 375/- per diem Rs 250/- per diem Rs. 185/- per diem

PQP/Graduation Pay – Rs.250/- after 1 yr, Rs.490/- after 2 yrs., Rs.740/- after 3 yrs., Rs.990/- after 4 yrs.,

Rs.1230/- after 5 yrs, all per month.

Implementation - Items Date of effect

Scale of pay, Stagnation increment, DA, 1st November 2007

PQP,FPP,HRA,Transport,Medical Aid, Allowances under the Heads : Special Area , Hill & Fuel, Washing, Split Duty, Cycle, Project Area; PF & Gratuity .

Part Time Employees - Upto 3 hrs - Rs 1030/- 1st November 2007

Upto 6 hrs – Rs 144o/-

Elevation to 1/3rd Scale Wage 1st May 2010

Halting Allowance 1st May 2010

LFC, Hospitalisation, Leave or Hysterectomy,Road Date of settlement Milage, Family Defination.

Discussion was also held for improvement of Hospitalisation Scheme but is yet to be finalised. On outsourcing and Duty of

Special Pay carrying posts, proposal of IBA have been opposed and no conclusion could be reached.

Next round of talks will be held on 13th instant.

Further developments shall be advised to you in due course