Salary Hike: An annual salary increase of 17 percent was agreed between the Indian Banks Association (IBA) and bank employees organizations on Friday. This will put an additional burden of Rs 8284 crore annually on public sector banks. Meanwhile, All India Bank Officers Confederation (AIBOC) said that it has also been agreed to approve all Saturdays of the month as holidays.
Bank Employees Salary Hike: There will be an annual increase of 17 percent in the salaries of officers and employees of public sector banks. About eight to lakh bank employees will benefit from this decision, which will be effective from November 2022. An annual salary increase of 17 percent was agreed between the Indian Banks Association (IBA) and bank employees organizations on Friday.
Will be allowed to take sick leave
This will put an additional burden of Rs 8,284 crore annually on public sector banks. Meanwhile, All India Bank Officers Confederation (AIBOC) said that it has also been agreed to approve all Saturdays of the month as holidays. However, the proposal to amend the working hours will come into effect after the notification of the government.
Under the new wage settlement, all women employees will be allowed to take one day’s sick leave every month without providing medical certificate.
It states that accumulated Privilege Leave (PL) can be encashed up to 255 days at the time of retirement or death of the employee during service.
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 that date will also come under its purview.
