None
Skip to mainAs many as 8.5 lakh bank employees are set to benefit with the wage hike of 15 per cent. Basic pay has been merged with dearness allowance. Bank’s contribution to NPS (New Pension Scheme) fund will increase to 14 per cent of this merged pay. The decision in this regard was finalised yesterday after intense negotiations by bank employees’ unions and the Indian Banks’ Association (IBA). The annual hike in wages will be effective from November 2017. “Today IBA & UFBU have signed an MoU for 15% increase in pay slip component of Bank Employees, in Principal agreement to remove cap & offer 30% of Basic Pay as family Pension,” IBA Chief Executive Officer Sunil Mehta had tweeted yesterday.
Apart from the salary hike, PLI will be introduced for public sector bank staff. PLI will be applicable from the current financial year for public sector banks. However, it will be optional for the private sector and foreign banks. There will be no PLI if the operating profit earned by a bank is less than 5 per cent. However, if the operating profit is between 5-10 per cent, employees would get an additional five days salary. If the operating profit is above 15 per cent, employees will get an additional 15 days salary. However, this will be applicable only if the bank reports a net profit.
🕑 23 Apr, 2024 10:01 AM
CGDA: Revision of rates of Allowances with DA rates increased to 50%
🕑 22 Apr, 2024 12:59 PM
CBDT: on DoPT order on regularization of Casual Workers
🕑 21 Apr, 2024 09:54 PM
DoPT Consolidated Instructions on SC, ST, OBC, PwD & EWS reservation
🕑 18 Apr, 2024 11:51 AM
Timeline extended for CGHS Beneficiary ID - ABHA ID linking
🕑 18 Apr, 2024 10:22 AM
APAR timelines for Central Civil Services extended to 30th April
🕑 10 Apr, 2024 08:25 AM
DoPT Guidelines on Departmental Promotion Committees
🕑 02 Apr, 2024 09:21 AM
CGHS ID - ABHA linking mandatory and needs to be done in 30 days
🕑 31 Mar, 2024 08:10 PM
DA from 01.01.2024 to Armed Forces Officers & Personnel Below Officer Rank
🕑 10 Apr, 2024 08:35 AM
Kendriya Vidyalaya Sangathan Admission Guidelines 2024-2025
🕑 05 Apr, 2024 01:23 PM
Kendriya Vidyalaya Balvatika Admission Schedule - 2024-25
🕑 02 Apr, 2024 09:25 AM
Kendriya Vidyalaya Admissions Open for 2024-25: Key Dates & Appln Process
🕑 01 Apr, 2024 09:23 AM
Kendriya Vidyalaya (KV) schools where Balvatika is functioning
🕑 14 Mar, 2024 02:07 PM
Govt bans 18 vulgar 18 OTT. See the list here
🕑 08 Mar, 2024 01:49 PM
Pension Scheme Gains Traction Across States, Despite Central Hurdles
🕑 20 Feb, 2024 11:17 PM
CGHS rate for general surgery applicable from February 1, 2024
🕑 08 Feb, 2024 10:19 AM
No loan interst change as RBI maintains repo rate at 6.50% for the 6th time