India, Nov. 21 -- After several rigorous negotiations for three years, the Indian Banks' Association (IBA) announced the conclusion of the 11th Bipartite Wage Negotiations with bank unions and officers' associations last week. On 22 July this year, the bank employees' unions and IBA had entered into a memorandum of understanding for an annual wage hike of 15%. IBA chief executive Sunil Mehta said in a statement: "The Indian Banks' Association is pleased to announce the conclusion of 11th Bipartite Wage Negotiations with bank unions and associations to be effective from 1 November 2017. The agreement reached today provides for a 15% increase in the payslip." According to the statement, a detailed bipartite settlement/joint note has been si...