Dear Comrades,
Units are aware that while there are many unique features of the 11th Bipartite Settlement under which many benefits have been secured for the employees, the improvement in the 9th stagnation increment and making the periodicity at uniform 2 years with re-calculation from the date of their reaching maximum with financial benefits from 1.11.2020
Various Circulars have been issued by AIBEA detailing the benefit with number of examples, etc. IBA has also now issued their clarification Circular dated 5-6-2021.
We are getting number of phone calls, messages, emails, etc. from various individual employees/retirees seeking clarification and stating that they have not been given these benefits.
Wherever these benefits have not been implemented or partially implemented in any Bank, our All India Unions/Federations should take up the matter so that all eligible employees are extended these benefits.
We once again repeat and reiterate the following :
A) For employees who have received their 8th stagnation increment between 1-11-2012 and 1-11-2015 (and who were in service on 1-11-2017), the 9th stagnation increment shall be payable from 1-11-2017 (with monetary benefits.)
Date of receiving 8th stagnation increment
November, 2012 November, 2013 November, 2014 November, 2015
9th Stag. Incr. from
November, 2017 November, 2017 November, 2017 November, 2017
B) For employees who have received their 8th stagnation increment from 1-12-2015 to 1-11-2018 ( and who were in service on 1-11-2017), the 9th stagnation increment shall be payable 2 years after receiving the 8th stagnation increment (with monetary benefit.)
Date of receiving 8th stagnation increment
December, 2015 November, 2016 November, 2017 October, 2018 November, 2018
9th Stag. Incr. from
December, 2017 November, 2018 November, 2019 October, 2020 November, 2020
C) FOR ALL OTHER EMPLOYEES, (other than those covered by categories A and B above) their stagnation increment will be revised/ refixed / re-worked / re-scheduled at uniform 2 years periodicity from reaching the 20th stage.
Such re-worked / revised stagnation increment will be notional from 1-11-2017 & actual monetary benefit shall be payable from 1-11-2020.
Note: However, employees who reach/reached 20th Stage from November, 2017 onwards shall be eligible for their regular stagnation increment once in 2 years from the month of reaching the 20th stage.
Example: Reached 20th Stage in Nov. 2017– 1st Stag. Increment from Nov. 2019 D) RETIRED EMPLOYEES:
Employees who have retired from and after November, 2017 are eligible for the above benefits.
- a) Employees who have retired and are covered by A and B above, are eligible for arrears of wage revision from 1-11-2017 upto date of retirement. PLUS, they are eligible for the difference in PF, NPS, Gratuity, Pension, Commutation, Leave Encashment.
- b) Employees who have retired and are covered by C above ( i.e. those eligible for re-working of stagnation increment due to change in periodicity from 3 to 2 years) are eligible for arrears of wage revision from 1-11-2017 upto date of retirement. In their Case (if they are pension optees), their pension would be recalculated and revised from 1-11-2020. (Only pension will be revised).
Unions are requested to ensure that the due benefits of the employees as above are properly extended to them by the managements. If there is any defective implementation or mal-implementation or non-implementation or refusal to implement, the same should be taken up and management should be prevailed upon.
With greetings,
Yours comradely,
C.H. VENKATACHALAM GENERAL SECRETARY