A proposal to raise staff salaries was announced on Thursday, but numerous unions are asking for more pay increases in addition to other changes.
Digital Desk: The Indian Bank Association has proposed giving government and some private bank employees five days a week and a 15% increase in salary.
Salary Increase for Bank staff: The Indian Banks Association (IBA) proposed raising the pay of bank employees in the government and some older private sectors by 15%. Additionally, there are plans to shortly begin working five days a week. A proposal to raise staff salaries was announced on Thursday, but numerous unions are asking for more pay increases in addition to other changes.
On the other hand, banks such as PNB have begun to enhance their preparations for salary increases. These banks are creating their budget to give their employees a 10% rise. Additionally, a sum has been set aside for a 15% increase in salary. This implies that the salaries of the staff members of these institutions could rise by 25% if both of these suggestions are adopted.
The union and employees demand higher pay increases
Here, unions and employees state that banks had a solid profit in the September quarter of FY 2024 and that during COVID, workers performed better in carrying out government programmes and getting lenders back on track. As. Employees should receive better pay in such a scenario, and their salary increase should be greater than 15 percent.
Gift may be received before general elections
There will be general elections in the year that comes, and negotiations with the Ministry of Finance are being closely watched. It is anticipated that the employee compensation increase plan will be approved before the general elections. Following three years of protracted talks with the government, bank employees' salaries were last raised in 2020.
Five days a week at work
Additionally, it has been suggested that bank personnel be subject to a five-day-per-week limit. Following the execution of this proposal, employees will work longer hours and receive two days off per week.
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