The 11 bipartite agreement is an important agreement that affects the lives of many bank employees in India. This agreement was signed between the Indian Banks` Association (IBA) and the United Forum of Bank Unions (UFBU) in 2015.

The agreement covers various aspects of the employment of bank employees, including salary hikes, working hours, and other benefits. The agreement is called bipartite because it is between two parties – the IBA and the UFBU.

One of the key features of this agreement is the salary hike for bank employees. The agreement provides for a 15% increase in salary for all employees covered by the agreement. This hike is effective from November 1, 2012, and is applicable for the period from November 1, 2012, to October 31, 2017.

In addition to the salary hike, the agreement also covers other benefits for bank employees. These benefits include medical reimbursement, leave travel concession, and pension improvements.

The agreement also specifies the working hours for bank employees. According to the agreement, the working hours for bank employees are fixed at 6 hours a day, with a 5-day workweek. This provision ensures that bank employees have a better work-life balance and are not overworked.

The 11 bipartite agreement also addresses the issue of job security for bank employees. The agreement provides that there will be no outsourcing of regular bank activities. This means that the jobs of regular bank employees will not be outsourced to third-party vendors.

The agreement also lays down guidelines for promotions and transfers for bank employees. These guidelines ensure that promotions and transfers are done in a fair and transparent manner.

In conclusion, the 11 bipartite agreement is an important agreement for bank employees in India. The agreement covers various aspects of employment, including salary hikes, working hours, and other benefits. The agreement provides job security for bank employees and ensures that they have a better work-life balance. Overall, this agreement is a step towards improving the working conditions of bank employees and ensuring their welfare.