MORE PAIN POINTS
The wage revision for employees and officers of IDBI Bank is due from November 1, 2012 to October 31, 2017 on the lines of settlement in all other banks, AIBEA General Secretary, CH Venkatachalam said in a statement.
Noting that the wage revision was already settled in other banks, he said, the negotiation talks were underway for ne ..
The wage revision for employees and officers of IDBI Bank is due from November 1, 2012 to October 31, 2017 on the lines of settlement in all other banks, AIBEA General Secretary, CH Venkatachalam said in a statement.
Noting that the wage revision was already settled in other banks, he said, the negotiation talks were underway for ne ..
The wage revision for employees and officers of IDBI Bank is due from November 1, 2012 to October 31, 2017 on the lines of settlement in all other banks, AIBEA General Secretary, CH Venkatachalam said in a statement.
Noting that the wage revision was already settled in other banks, he said, the negotiation talks were underway for next wage revision due ..
RRB Pay Revision:
The government revised the pay scale and allowances of employees of regional rural banks (RRBs) and brought it on a par with the nationalized banks.
The move will put an additional cost burden of Rs 791 crore on the exchequer in the form of arrears.
Mukherjee also laid emphasis on expanding the core banking solutions platform of the RRBs. The total loan outstanding of RRBs as on March 31, 2010, stood at Rs 83,562 crore whereas the deposits amounted to Rs 1,42,814 crore.
Wage revision for bank employees
Lakhs of bank employees in the country will get a bonanza in the form of a wage hike, changes in pension plan and arrears. The Indian Banks’ Association has signed a wage revision pact with nine bank unions, which will lead to an additional wage component of Rs5,200 crore for 46 banks which covers all the 26 public sector banks, 12 private sector banks and eight foreign banks.
With this, about 7.5 lakh bank employees and officers will be enjoying 17.5 per cent increase in their wages, effective from Nov 1, 2007.
'We are satisfied with the wage agreement that is effective from 2007. The new settlement apart from increasing the wages for clerical grades and officers would also provide the employees one more option to join the pension scheme,' C.H. Venkatachalam, convenor, United Forum for Bank Unions, told.
Banks and unions settled on a 17.5 per cent hike in the salary of 702,000 public sector employees, besides agreeing to make 332,000 serving and retired employees eligible for pension. State Bank of India employees association representatives, however, walked out of the wage settlement.
The wage hike would be effective from November, 2007 and would result in an additional outflow of Rs. 4,816 crore annually. This includes a sum of Rs. 2,239 crore for officers and Rs. 2,577 crore for workmen employees for five years. The outflow in case of pension scheme is estimated at Rs. 6000 crore annually.
The All-India State Bank Officers Federation (AISBOF) rejected the proposed 17.5 per cent wage hike and pension benefits and demanded a separate wage revision.
The Indian Banks Association (IBA) and United Federation of Banking Unions (UFBU) representing nine bank employee associations had agreed to the wage hike and pension benefits after a prolonged discussion in Mumbai.
"We do not agree with the proposed salary hike for bank employees. The SBI employees demand that the increase should be at par with the salary of the Central government employees," AISBOF vice-president SK Haldar said here"
