46 Indian Bank’s Staff Get Pay Hike
Employees’ unions and the Indian Banks Association (IBA) Tuesday signed here a five-year wage agreement providing for a 17.5 percent hike in pay from 2007 to around 775,000 staffers of 46 banks whose annual wage bill will go up by Rs.5,200.
The settlement covers 26 public sector banks, 12 private banks and 8 foreign banks and would benefit 477,000 workmen employees and 275,000 officers.
According to Venkatachalam, the additional cost for the government banks will be Rs.4,816 crore. For private banks, the financial load would be Rs.400 crore.
Under the agreement all the remaining 260,000 employees and officers who are now covered by contributory provident fund would be given a chance to join the pension scheme – a long pending demand of the unions.
About author
Freshersplanet is exclusively for listing fresher jobs, and attracts nearly a million fresh job seekers from different streams. Recruiters can publish any fresher openings, Internships and walk-ins via Freshersplanet to reach to the top quality freshers talent available in the country.
0 comments