AIBEA 9th Bipartite Deal Signed on 27-04-2010 Successfully.....
The agreement improved the wages of the bank employees and along with that a deal of Pension option Settlement was also signed. All retired bank employees were covered under the Defined Benefit Pension Scheme ensuring pension for them.
46 Banks are covered under the settlement among which 12 Private Sector Banks, 26 Public Sector Banks and 8 Foreign Banks. The settlement also benefitted 2,75,000 officers and 4,77,000 workmen. The deal cost the Bank wages by Rs.5,200 crores per year and the settlement was effective from November 2007 to October 2012.