Bank Employees Wage Hike: Wage hike for bank employees will put an additional burden of Rs 8,284 crore annually on public sector banks. The bank officers’ organization said that the new pay scale has been determined by including dearness allowance of 8088 points and additional load on it. The latest salary hike will be effective from November 2022.
Bank Employees Wage Hike: There will be an annual increase of 17 percent in the salaries of officers and employees of public sector banks. An annual salary increase of 17 percent was agreed between the Indian Banks Association (IBA) and bank employee organizations on Friday, March 8. This decision, which will be effective from November 2022, will benefit about 8 lakh bank employees. This will put an additional burden of Rs 8,284 crore annually on public sector banks. IBA revises the annual salary in consultation with bank officers and employees’ organizations.
Meanwhile, the All India Bank Officers Confederation said it has also been agreed to sanction all Saturdays as holidays for bank employees. But the proposal to amend the working hours will come into effect after the notification of the government. Sunil Mehta, CEO of banks’ body IBA, in a post on social media platform Have signed. This will be effective from November 1, 2022.
This relief for women employees
The bank officers’ organization said that the new pay scale has been determined by including Dearness Allowance of 8088 points and additional weightage on it. Under the new wage agreement, all women employees will be allowed to take one day’s sick leave every month even without a medical certificate. Accumulated Privilege Leave (PL) can be encashed up to 255 days at the time of retirement or death of the employee during service.
What’s new for retired employees
In case of retired employees, it has been agreed that the monthly ex-gratia amount will be paid in addition to the pension/family pension paid by the Public Sector Banks. This amount will be given to those pensioners and family pensioners who have become eligible to receive pension on or before October 31, 2022. People retiring on this date will also come under its purview.
