There is good news for 8 lakh government bank employees. In the meeting of Indian Bank Association and Employee Union, the proposal of 17% annual salary increase and holiday on every Saturday has been agreed upon.
There will be an annual increase of 17 percent in the salaries of officers and employees of public sector banks. About eight 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 employee organizations on Friday. This will put an additional burden of Rs 8,284 crore annually on public sector banks. IBA revises the annual salary in consultation with the organizations of bank officers and employees.
Also consider giving holiday on all Saturdays
Meanwhile, All India Bank Officers Confederation said that it has also been agreed to approve all Saturdays as holidays. But the proposal to amend the working hours will come into effect after the notification of the government. The bank officers’ organization said, “The new pay scale has been determined by including Dearness Allowance (DA) of 8088 marks and additional weightage on it.”
One day medical leave every month for female employees
Under the new wage agreement, all women employees will be allowed to take one day’s sick leave every month even without giving a medical certificate. It states that the accumulated Privilege Leave (PL) can be encashed up to 255 days at the time of retirement or death of the employee during service.
Will be effective from 1 November 2022
Sunil Mehta, Chief Executive Officer of IBA, an organization of banks, said in a message on the social media platform ‘X’, ‘Today is an important milestone for the banking industry. IBA and UFBU, AIBOU, AIBASM and BKSM have signed the 9th Joint Note and 12th Bilateral Agreement regarding wage revision for bank officers and employees. “This will be effective from November 1, 2022.”
Retired employees will get separate ex-gratia amount
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.
