IBA Circular – Clarification on Arrears to Workmen as well as Officer Staff

IBA Circular – Clarification on Arrears to Workmen as well as Officer Staff

Press release Chairman IBA Clarifies

Indain Banks’ Association

IBA Clarifies

Responding to a query raised by media persons Shri T M Bhasin, Chairman, IBA clarified that Adhoc arrears w.e.f. 1st November 2012 will be paid by the Banks to the Workmen as well as Officer Staff members immediately after approval by the Boards of respective Banks. As regards workmen the new scales will be adopted by the Boards of respective banks and shall be implemented soon thereafter. For Officers, the new scales will be implemented after due process of approval of Revised Officer Service Regulations by the Govt. of India and adoption by the respective Board of Directors of various Banks. However, in the meantime officers also will be paid arrears and salary based on new scale on an Adhoc basis with the approval of the Government.

May 26 2015

Source: www.iba.org.in