A clarification issued by IBA on following provision.

It is applicable to those employees who retired between 01.11.2012 to 30.04.2015 and are eligible for notional benefit of 8th increment before their retirement date.

For your reference ,please read following provision in 10th BPS.

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Introduction of 8th stagnation increment mentioned in 10th BPS.

5. Stagnation Increments:

 In partial modification of Clause 5 of Bipartite Settlement dated 27th April 2010, both clerical and subordinate staff (including permanent part-time employees on scale wages) shall be eligible for eight stagnation increments w.e.f.  1st November 2012 at the rate and frequency as stated herein under:  The clerical and subordinate staff including permanent part-time employees on scale wages on reaching the maximum in their respective scales of pay, shall draw eight stagnation increments at the rate of Rs.1310/- and Rs.655/- (pro rata in respect of permanent  part-time employees) each due under this settlement, and at frequencies of 3 years and 2 years respectively, from the dates of reaching the maximum of their scales  as  aforesaid  except  that  in  the  case  of  clerical  staff,  sixth,    seventh  and  eighth stagnation  increments  will  be  released  two  years  after  receipt  of  fifth,  sixth  and seventh  stagnation  increments  respectively,  provided  that  an  employee  who  has completed  two  years  or  more  after  receiving  fifth  stagnation  increment  as  on  1st November  2012  shall  receive  the  sixth  stagnation  increment  as  on  1st  November 2012. Provided    further  that  a  clerical  /  subordinate  staff  (including  permanent  part-time employees  on  scale  wages)  already  in  receipt  of  seven  stagnation  increments  shall  be eligible  for  the  eighth  stagnation  increment  on  1st  May  2015  or  two  years  after  receiving the  seventh  stagnation  increment,  whichever  is  later.