Employees Salary Hike: Employees of public sector banks may soon get the gift of increased salary. The Finance Ministry has given special instructions on this matter.
Bank Employees Salary Hike: If you are a government bank employee then there is good news for you. The Finance Ministry has ordered the Indian Banks’ Association (IBA) to initiate talks. Through this, the way for increase in salary of bank employees will open. The Finance Ministry has asked to complete this conversation by December 1, 2023. Significantly, the current wage agreement of public sector banks has ended on November 1, 2022. In such a situation, the government is constantly in talks with the unions representing the bank employees. According to the news of PTI, a senior official of the Finance Ministry has informed that the Finance Ministry has ordered to resolve the matter before December.
The government wants to suggest the issue of salaries pending for a long time as soon as possible so that the employees can get encouragement. Along with this, the officer said that the Finance Ministry has also asked the IBA to ensure that the talks regarding future wage hikes take place at the right time.
Finance Ministry said this
In the letter issued to the IBA, the Finance Ministry has said that the government is fully committed to protect the interests of bank employees. Along with this, the government is confident that the IBA will be able to negotiate with different bank unions soon and reach an agreement. Along with this, the government has also said in its letter that while increasing the salary, it will be kept in mind that the salary of government bank employees should be fixed according to the rest of the units of the banking industry.
Employees will be taken care
Talking to PTI, the official said that the banking sector is a very important part of the Indian economy. In such a situation, it is the aim of the government to provide better salary and working environment for the bank employees. Along with this, the official said that the salary issue of employees of public sector banks is a complex process. In this, attention has to be paid to many things like the financial condition of the bank. According to the report published in Business Today, on this matter, the IBA has said that they want to reach an agreement as soon as possible in which the interest of both the bank employees and the bank is included.
Banks have a long history of delaying salary hike
Significantly, banks have a long history of delaying increments in increments. Wage settlement for the banks has been a difficult and lengthy process. Earlier also it took 2 to 3 years for such agreement, due to which the dues of many years got accumulated. On the other hand, if we talk about the last salary agreement, it was completed 3 years ago in the year 2020. In this, a 15 percent salary hike was agreed upon.
