24 May, 2015 5:01p.m.

PSU bank employees will soon get pay hike, arrears for 30 months

Employees of public sector banks, old generation private sector banks and some foreign banks will be a happy lot as they will soon get 15 per cent pay hike, arrears for the last 30 months, and other benefits as part of a deal that the unions and bank managements have reached.

Unions, under the aegis of the United Forum of Bank Unions, and bank managements, represented by the Indian Banksā€™ Association, have worked out a detailed Bipartite Settlement/ Joint Note and the same will be formalised on May 25.

The benefits that about 7.50 lakh bank employees stand to get are a special pay, a new hospitalisation scheme backed up by insurance and holiday on every second and fourth Saturday in a month.

Read more at http://www.thehindubusinessline.com/industry-and-economy/banking/psu-bank-employees-will-soon-get-pay-hike-arrears-for-30-months/article7236304.ece
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