Bank Employees Salary Hike: It was decided to increase the salary of bank employees by 17 percent as per the 12th bilateral settlement, which will be effective from November 2022 and the salary will increase from April 2024.
Bank Employees Salary Hike: On the occasion of Mahashivratri , 8.5 lakh employees and officers of public banks in the country have received the gift of a salary hike. An agreement has been reached on the 12th bilateral settlement regarding wage hikes between bank unions and the Indian Banks Association. There has been an agreement on 17 percent increase in the salaries of bank employees, which will be effective from November 2022. That means bank employees will get increased salaries along with arrears. But the question arises whether it is a bank clerk or an officer, how much salary increase will they ultimately get?
21 percent increase in salary of bank clerk
Suppose a graduate joins a bank job in April 2024, then according to the 11th bilateral settlement, he would get basic pay of Rs 19990, special allowance Rs 3263, transport allowance Rs 600, dearness allowance Rs 11527, HRA Rs 2039 i.e. total salary Rs 37,421. After the salary increase based on 12th bilateral settlement, you will get Rs 45337. That means you will get Rs 7916 or 21 percent more salary every month.
Substaff salary increased by 15 percent
Let's take another example, suppose someone joins the bank as a substaff in April 2024, then on the basis of 11th bilateral settlement, he would get a total salary of Rs 27,443, which includes basic pay Rs 14500, special allowance Rs 2378, transport allowance Rs 600, DA includes Rs 8478, HRA Rs 1486. But after the implementation of the 12th bilateral settlement, the salary will be Rs 31,530 i.e. an increase of 15 percent. Which includes basic pay of Rs 19500, special allowance Rs 5167, transport allowance Rs 850, DA Rs 4013 and HRA Rs 1998.
22 percent jump in salary of senior clerks
Senior Clerk (Graduate/CAIIB/Special Assistant) would get a total salary of Rs 133168 in April 2024 on the basis of 11th bilateral settlement which includes Basic Pay Rs 65830, Special Pay Rs 2920, PQP Rs 3045, Special Allowance Rs 10796, FPPRs 2262. , Dearness Allowance is Rs 40,356 and HRA is Rs 7358. But after the implementation of the 12th bilateral settlement, the total salary will be Rs 1,62,286 from April 2024. That means the salary will increase by Rs 29,118 or 22 percent compared to earlier. Which includes Basic Pay Rs 93960, Special Pay Rs 4600, PQP Rs 4100, Special Allowance Rs 24899, FPP Rs 3155, Transport Allowance Rs 850, DA Rs 20199 and HRA Rs 10522.
Substaff will get 21 percent increase in salary
Talking about sub-staff (draftery), based on 11th bilateral settlement, such employees would have received a total salary of Rs 71,598 in April 2024, which includes basic pay Rs 37145, special pay Rs 850, special allowance Rs 6091, FPP Rs 1140, transport allowance Rs 600, DA is Rs 21677, HRA is Rs 3894 and washing allowance is Rs 200. But due to the 12th bilateral settlement, the salary will be 21 percent or Rs 15,053 more every month. Such employees will get a total salary of Rs 86,651, which includes basic pay Rs 52510, special pay Rs 1145, special allowance Rs 13941, FPP Rs 1585, transport allowance Rs 850, dearness allowance Rs 10810, HRA Rs 5510 and washing allowance Rs 300.
