The Negotiating Committee of Indian Banks‟ Association (IBA) representing the managements of banks held several rounds of discussions with the authorised representatives of the Officers” Associations on salary revision and other issues concerning service conditions for officers in Banks. Following Scale of Pay has been finalized for Officers at various scales.
Scales of Pay of Officers after 10th Bipartite Settlement:
Fitment: Fitment shall be stage-to-stage, i.e. on corresponding stages from 1st stage onwards and the increments shall fall on the anniversary date as usual Stagnation Increments
Stagnation Increments
1. Officers in JM Grade Scale I who have moved to scale of pay for MMG Scale II in terms of Regulation 5(b) after reaching maximum of the higher scale shall be eligible for four stagnation increments for every three completed years of service of which first two shall be Rs.1310/- each and next two Rs. 1460/- each.
2. Officers in MMG Scale II who have moved to scale of pay for MMG Scale III in terms of Regulation 5(b) after reaching maximum of higher scale shall be eligible for three stagnation increments of Rs.1460 /- each for every three completed years of service and a fourth stagnation increment of Rs.1460/- two years after receipt of third stagnation increment.Provided that officers who have completed two years or more after receipt of the third stagnation increment will get the fourth stagnation increment with effect from 1.5.2015.
3. Officers in substantive MMG Scale III i.e. those who are recruited in or promoted to MMG Scale III shall be eligible for four stagnation increments of Rs.1460/- each for every three completed years of service and a fifth stagnation increment of Rs.1460/- two years after receipt of fourth stagnation increment provided that the officers who have completed two years after receipt of the fourth stagnation increment will get the fifth stagnation increment w.e.f 1.5.2015.
4. Officers in SMGS-IV shall be eligible for one stagnation increment of Rs. 1650/-three years after reaching the maximum of scale w.e.f. 1.5.2015.