Bank employees to get 15% salary hike
MUMBAI: The Indian Banks Association signed the 11th bipartite wage agreement with representative of bank employees paving the way for a 15% wage hike. The agreement applies to public sector banks, a few old generation private banks and some foreign banks.
IBA in a statement said that to inculcate a sense of competition and also to reward the performance, the concept of Performance Linked Incentive (PLI) scheme has been introduced for the first time. The scheme will be effective from the current fiscal. The PLI scheme in public sector banks will be based on operating profit/net profit of the individual bank. It is optional for private and foreign banks.
The bi-partite agreement is a platform for bank employees to renegotiate wages every five years. In addition to the salary the wage agreement incorporates various employee benefits and incorporates any changes in service conditions. For instance, the computerisation of banks in the 90s was made possible through a wage agreement
Bank employees are always working hard. Without any small gap they are working continuously. One can imagine their duty after visiting bank.
Ramesh T M
The bank personnel has been doing yeomen service during Covid times risking their lives. These folks have to be rewarded and the increase is in line with their performance.
Good news to Bank employees who were overburdened with their assigned work. But why association of Bank employees does not urge authorities to fill up existing vacancies in Banks on priority basis in order to improve efficiency of services?
Salary rise is appreciated, but I should be linked with integrity, customer friendliness and performance. (NO NPA)
Today the entry-level salary of a Probationary Officer in most PSU Banks == is lower than that of a senior Booking counter clerk of railways, etc.......?
According to me, if any sector needed to be penalized for GROSS INEFFICIENCY & INCOMPETENCE its the BANKING SECTOR EMPLOYEES. Majority of them are TIME WASTERS.
Bank employees are handsomely paid and there is no need to hike their pay now when the country is passing through hard economical crises and COVID expanses.
These bank employees will then facilitate fraud and help people like Vijay Mallya and Nirav Modi to get away with billions and live happily overseas.
Why should the public pay for their inefficiency, co ption etc..??
Banks should work at least 6 days a week, after pay rise.
TOO MUCH.INTEREST RATE HAS TO BE ADJUSTED AGAIN, DEPOSITOR WILL BE AT LOSS AGAIN.
While we senior citizens reel from lowered interest rates, skyrocketing food prices, unilateral utility rate hikes. Government, centre and state blind and deaf to our plight.
Looks like Government employees will never face hardship like any of us .
We loose our jobs and they get an increase. Ache Din for them.
Their commitment to work during Corona pandemic is finally recognised and rewarded.
A very good Diwali gift in the present depressing atmosphere.
Wage revision after a delay of 3 years is a welcome step.