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Employees Salary Hike: 15 to 20% increase in salary of employees possible, benefits of holidays will also be available, letter written to Finance Minister

At present bank employees have one day off in a week. However, banks remain closed on the second and fourth Saturday of every month. If the Finance Ministry agrees to this, then the bank employees will have to work only 5 days a week and 2 days will be closed on Saturday and Sunday.

Bank Employees 5 Day Working/ Salary Hike: Before the Lok Sabha elections, lakhs of government bank employees across the country may get 2 good news. This includes 5 days working and 15 to 20% increase in salary. According to media reports, the Central Government may approve the demand for a 5-day working week before the elections. It can also consider the proposal to increase the salary from June 2024. If both these demands are agreed upon, then 9 lakh employees will get benefits.

Union demands from Finance Minister – 5 day working rule should be made in banks

  • According to media reports, United Forum of Bank Unions, the association representing bank employee unions, has written a letter to Finance Minister Nirmala Sitharaman and recommended that there should be 5 working days in banks. Needed
  • The United Forum of Bank Unions has assured in its proposal that there will be no reduction in the total banking hours for bank customers or the total working hours for employee-officers. The association has asked the Finance Minister to consider the matter and direct the Indian Banks Association to proceed accordingly.
  • At present bank employees have one day off in a week. However, banks remain closed on the second and fourth Saturday of every month. If the Finance Ministry agrees to this, then the bank employees will have to work only 5 days a week and 2 days on Saturday and Sunday will be closed. This rule is applicable in Regional Rural Banks. Will also apply to its employees.

Demand for salary increase also

  • Last year, the Indian Banks Association (IBA) had proposed a salary increase of 15 to 20% for government employees. Since the existing wage agreement between Public Sector Banks (PSBs) and IBA has expired on November 1, 2022, several rounds of talks have been held in this regard.
  • According to the Memorandum of Understanding (MOU) signed between the Indian Banks Association and the Bank Employees Unions in the year 2023, the salary of the employees should increase by 17% in a period of 5 years with annual increase. DA (Dearness Allowance) will be merged with basic pay.
  • If the wage hike is approved by the Centre, around 9 lakh employees, including 3.8 lakh officers, across all PSBs and select old generation private banks will benefit. The MoU signed included a commitment to finalize the pay revision within 180 days.
Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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