The 11th Bipartite Agreement is a significant event in the Indian banking industry, as it defines the wage revision and other related service conditions of the employees of public sector banks. The agreement is signed every five years between the Indian Banks Association (IBA) and bank employee unions. The 11th Bipartite Agreement was signed on February 27, 2020, and it will be in effect from November 1, 2017, until October 31, 2022.

The agreement has been signed between the IBA and the United Forum of Bank Unions (UFBU), which comprises nine bank employee unions. The agreement provides a 15% increase in the pay scale of bank employees. The wages of officers and clerks will be revised as per the fitment formula of 2.50% on the revised basic pay. The agreement also provides for an additional 2.25% of the basic pay as a special allowance for officers.

The 11th Bipartite Agreement also introduced a new medical insurance scheme for bank employees. The scheme provides a family floater insurance cover of Rs. 6 lakhs for officers and Rs. 5 lakhs for clerks. The scheme will also cover pre-existing diseases and maternity expenses. The premium for the scheme will be shared between the bank and the employee.

Another significant feature of the 11th Bipartite Agreement is the introduction of a leave bank system. The system will allow bank employees to accumulate their unused leaves, which can be encashed at the time of retirement or during a medical emergency. The agreement also provides for the introduction of a five-day week system for bank employees.

The 11th Bipartite Agreement has been welcomed by bank employee unions as a positive step towards improving the working conditions of bank employees. The agreement provides for a reasonable wage hike, better medical insurance coverage, and other benefits. It is expected that the agreement will help to boost the morale of bank employees and improve the efficiency of public sector banks.

In conclusion, the 11th Bipartite Agreement is a significant development in the Indian banking industry. The agreement provides for a revision of wages and other service conditions of bank employees. It is expected that the agreement will have a positive impact on the working conditions of bank employees and help to improve the efficiency of public sector banks.

The 11th Bipartite Agreement is a significant event in the Indian banking industry, as it defines the wage revision and other related service conditions of the employees of public sector banks. The agreement is signed every five years between the Indian Banks Association (IBA) and bank employee unions. The 11th Bipartite Agreement was signed on February 27, 2020, and it will be in effect from November 1, 2017, until October 31, 2022.

The agreement has been signed between the IBA and the United Forum of Bank Unions (UFBU), which comprises nine bank employee unions. The agreement provides a 15% increase in the pay scale of bank employees. The wages of officers and clerks will be revised as per the fitment formula of 2.50% on the revised basic pay. The agreement also provides for an additional 2.25% of the basic pay as a special allowance for officers.

The 11th Bipartite Agreement also introduced a new medical insurance scheme for bank employees. The scheme provides a family floater insurance cover of Rs. 6 lakhs for officers and Rs. 5 lakhs for clerks. The scheme will also cover pre-existing diseases and maternity expenses. The premium for the scheme will be shared between the bank and the employee.

Another significant feature of the 11th Bipartite Agreement is the introduction of a leave bank system. The system will allow bank employees to accumulate their unused leaves, which can be encashed at the time of retirement or during a medical emergency. The agreement also provides for the introduction of a five-day week system for bank employees.

The 11th Bipartite Agreement has been welcomed by bank employee unions as a positive step towards improving the working conditions of bank employees. The agreement provides for a reasonable wage hike, better medical insurance coverage, and other benefits. It is expected that the agreement will help to boost the morale of bank employees and improve the efficiency of public sector banks.

In conclusion, the 11th Bipartite Agreement is a significant development in the Indian banking industry. The agreement provides for a revision of wages and other service conditions of bank employees. It is expected that the agreement will have a positive impact on the working conditions of bank employees and help to improve the efficiency of public sector banks.

The 11th Bipartite Agreement is a significant event in the Indian banking industry, as it defines the wage revision and other related service conditions of the employees of public sector banks. The agreement is signed every five years between the Indian Banks Association (IBA) and bank employee unions. The 11th Bipartite Agreement was signed on February 27, 2020, and it will be in effect from November 1, 2017, until October 31, 2022.

The agreement has been signed between the IBA and the United Forum of Bank Unions (UFBU), which comprises nine bank employee unions. The agreement provides a 15% increase in the pay scale of bank employees. The wages of officers and clerks will be revised as per the fitment formula of 2.50% on the revised basic pay. The agreement also provides for an additional 2.25% of the basic pay as a special allowance for officers.

The 11th Bipartite Agreement also introduced a new medical insurance scheme for bank employees. The scheme provides a family floater insurance cover of Rs. 6 lakhs for officers and Rs. 5 lakhs for clerks. The scheme will also cover pre-existing diseases and maternity expenses. The premium for the scheme will be shared between the bank and the employee.

Another significant feature of the 11th Bipartite Agreement is the introduction of a leave bank system. The system will allow bank employees to accumulate their unused leaves, which can be encashed at the time of retirement or during a medical emergency. The agreement also provides for the introduction of a five-day week system for bank employees.

The 11th Bipartite Agreement has been welcomed by bank employee unions as a positive step towards improving the working conditions of bank employees. The agreement provides for a reasonable wage hike, better medical insurance coverage, and other benefits. It is expected that the agreement will help to boost the morale of bank employees and improve the efficiency of public sector banks.

In conclusion, the 11th Bipartite Agreement is a significant development in the Indian banking industry. The agreement provides for a revision of wages and other service conditions of bank employees. It is expected that the agreement will have a positive impact on the working conditions of bank employees and help to improve the efficiency of public sector banks.

The 11th Bipartite Agreement is a significant event in the Indian banking industry, as it defines the wage revision and other related service conditions of the employees of public sector banks. The agreement is signed every five years between the Indian Banks Association (IBA) and bank employee unions. The 11th Bipartite Agreement was signed on February 27, 2020, and it will be in effect from November 1, 2017, until October 31, 2022.

The agreement has been signed between the IBA and the United Forum of Bank Unions (UFBU), which comprises nine bank employee unions. The agreement provides a 15% increase in the pay scale of bank employees. The wages of officers and clerks will be revised as per the fitment formula of 2.50% on the revised basic pay. The agreement also provides for an additional 2.25% of the basic pay as a special allowance for officers.

The 11th Bipartite Agreement also introduced a new medical insurance scheme for bank employees. The scheme provides a family floater insurance cover of Rs. 6 lakhs for officers and Rs. 5 lakhs for clerks. The scheme will also cover pre-existing diseases and maternity expenses. The premium for the scheme will be shared between the bank and the employee.

Another significant feature of the 11th Bipartite Agreement is the introduction of a leave bank system. The system will allow bank employees to accumulate their unused leaves, which can be encashed at the time of retirement or during a medical emergency. The agreement also provides for the introduction of a five-day week system for bank employees.

The 11th Bipartite Agreement has been welcomed by bank employee unions as a positive step towards improving the working conditions of bank employees. The agreement provides for a reasonable wage hike, better medical insurance coverage, and other benefits. It is expected that the agreement will help to boost the morale of bank employees and improve the efficiency of public sector banks.

In conclusion, the 11th Bipartite Agreement is a significant development in the Indian banking industry. The agreement provides for a revision of wages and other service conditions of bank employees. It is expected that the agreement will have a positive impact on the working conditions of bank employees and help to improve the efficiency of public sector banks.