IBA has confirmed and provided its consent for the implementation of the 12th BPS Revised salary, Arrears and enhanced ex gratia pension payment to all the Public Sector Banks. As communicated by the IBA, individual bank can approve the 9th Joint Note under 12th Bipartite Wage Settlement and make payment to their employees accordingly.
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The individual banks may approve the 9th Joint note in the same month and can make payment by end of March 2024. The revised salary may be paid from the month of April, 2024.