11th Bipartite Wage Revision – Don’t know , but 15% salary hike after 3 years doesn’t justify, if really compare the hard work given out.
The Indian Banks’ Association (IBA) has agreed to a 15% wage hike — the same increase that was agreed to during the last wage revision of 2012.
The wage revision for public sector bank employees has been pending since November 2017.
Read – Calculate your Expected Basic Pay with 15% Hike
It took three years and five strikes for the Indian Banks’ Association ( IBA) to agree upon an increase that is at par with what was agreed upon during the last wage revision in 2012 — 15%.
Be that as it may, the unions were originally demanding a wage hike of 20%.
The main reason for these strikes is wage revision, which is supposed to take place every five years. However, the last settlement was due on 1 November 2017 but the wages of public sector bank employees haven’t changed since.
Currently, the unions’ claim that the basic pay of public sector bank employees is half of what other central government employees earn. The unions’ state there were positive developments in the talks held with the IBA.
The unions point out that a large segment of the workforce has either already retired or is on the verge of retirement. They also claim that increasing work pressure due to the lack of manpower has led to over 100 incidents of bank officers committing suicides.
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