A Brief History of settlements for award staff in the Banks:
The Award of the All India Industrial Tribunal presided over by Sri P.Sastry was modified and enacted by the Industrial Disputes (Banking Companies) Decision Act, 1955, which covered the service conditions for the clerical and subordinate staff in the Bank, which was popularly known as SASTRY AWARD. Hence the nomenclature AWARD STAFF came into existence for clerical and subordinate staff.
The Industrial Disputes (Banking Companies) Decision Amendment Act, 1957 and provisions of the Award of the National Industrial Tribunal presided over by Justice Mr.K.T.Desai modified certain provisions of the Sastry Award in 1960.
Then came the settlement between Indian Banks’ Association and the workmen unions, the settlement between two parties termed as BIPARTITE SETTLEMENT.
The First Bipartite Settlement was signed on 19.10.1966 and the Second Bipartite Settlement was signed on 12.10.1970.
BANK OF INDIA HAD THE PRIVILEGE OF HAVING ITS OWN SCALES OF PAY WITH 20 YEARS SPAN UPTO SECOND BIPARTITE SETTLEMENT DATED 12.10.1970.
NCBE ENTERED THE SCENE OF BIPARTITE SETTLEMENT BY SIGNING THE THIRD BIPARTITE SETTLEMENT DATED 01.08.1979.
REST, THE 4TH, 5TH, 6TH, 7TH & 8TH BIPARTITE SETTLEMENTS ARE HISTORY NOW.
THE PRESENT 9TH BIPARTITE SETTLEMENT DATED 27.04.2010 IS A MILESTONE IN TRADE UNION MOVEMENT ACHIEVING THE HIGHEST BENEFITS TO THE EMPLOYEES VIZ 17.5% RAISE IN WAGE NEGOTIATIONS WITH A MUCH SOUGHT & FOUGHT SECOND OPTION FOR PENSION TO ALL THE ELIGIBLE EMPLOYEES FROM 1993.
PLEASE TURN PAGES NOW FOR OTHER ENTITLEMENTS, FACILITIES AND PRIVILEGES
Mysore (N.Varadarajan)
15th May 2010 MYSORE BRANCH
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