No. 4/2/1/2826-IR
Govemment of India
Ministry of Finance/
Department of Financial Services
3 Floor, Jeevan Deop Building Parliament Street, New
Delhi-110001
20 April, 2026
Sir,
1. Chairman, State Bank of India
2. MD & CEOs of all Nationalised Banks
Subject: Wage revision in Public Sector Banks
This is with reference to the 13th Bi-partite Settlement/10th Joint Note for wage revision of employees of
the Public Sector Banks, which is scheduled to take effect from 01.11.2027. It
is noteworthy that the last settlement (ie, the 12 Bi-partite Settlement/9
Joint Note) was concluded in a much shorter period of 14 months, compared with
the average of round two and a half years for previous settlements
2 As the timely conclusion of the Settlements is essential
for maintaining industrial harmony, Public Sector Barks are advised to initiate
the necessary measures to commence negotiations for the impending wage
revision. Considering the timeframe taken to the previous wage settlement,
Public Sector Banks are hereby advised to complete the negotiation processes
within a maximum period of twelve months.
3. Furthermore, it has been observed that, on previous
occasions, consequential amendments to the pertinent Regulations have been
effected after a considerable delay following the settlements. As negotiations
for the upcoming settlement are now being initiated in a timely manner, it is
underscored that the consequential amendments to the relevant Regulations
should also be completed prior to the scheduled date of the next wage
settlement. The process of implemeting consequential amendments to the
regulations typically takes approximately three to four months. Therefore, it
is advised ther immediately upon the
conclusion of negotiations, the banks may initiate the process of amending the
relevant Regulations so that the amendments processes are completed well before
the scheduled date of commencement of the next wage settlement (i.e.01.11.2007.
4. It is reiterated that Public Sector Banks are advised to initiate
and conclude negotiations for the upcoming wage settlement within 12 months and
complete all necessary amendments to the relevant regulations to give effect to
the wage revisions from 01.11.2027.
This is issued with the approval of the Competent Authority,
Yours faithfully.
(Vijay Shankar Tiwari)
Under Secretary to the Government of India
Tel: 011-23747118
Copy :
The Chief Executive, Indian Banks Association, Mumbai for
necessary actions, with an advise to keep this Department apprised of the developments
at regular intervals, preferably on a monthly basis.
