Before
settling down the dust of tenth bank bipartite, Ministry of Finance initiated
next wage revision process. This is as per the recent Govt. policy of effecting
wage revision from current date to avoid any financial burden of payment of
arrears. Recently we noticed this approach for Central Govt. employees where
pay commission had been constituted well in advance, for the first time in
history.
Finance
Ministry vide its Letter No.F No 4/2/2/2015,IR dated 12th January 2016
directed,CEOs of all Public Sector Banks to initiate the process of negotiation
/Next wage revision of the employees and conclude it prior to the effective
date 1.11.2017.
The
last Wage revision process due w.e.f 1.11.2012(10th Bipartite Settlement /Joint
Note was completed on 25th May 2015 .
