Wage Revision for Public Sector Banks (PSBs) Employees

Wage Revision for Public Sector Banks (PSBs) Employees has been pending since November, 2017 – Rajya Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES

RAJYA SABHA

UNSTARRED QUESTION No. 1011

TO BE ANSWERED ON 11th FEBRUARY, 2020 (TUESDAY)/
MAGHA 22, 1941(SAKA)

Wage revision for PSBs employees

1011. SHRI DEREK O’ BRIEN:

Will the Minister of FINANCE be pleased to state:

(a) whether it is a fact that wage revision for Public Sector Banks (PSBs) employees has been pending since November, 2017;

(b) the number of bank employees who are affected by this delay in wage revision; and

(c) what action which Ministry is taking to facilitate the resolution of the deadlock between the bank management and public sector bank employee unions?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)

(a) to (d): Wages in PSBs are settled every five years through bipartite settlement between the Indian Banks’ Association (which negotiates on behalf of bank managements on their specific mandate) and unions/associations of bank employees. PSBs had been requested by the Government to expedite steps for wage revision. Indian Banks’ Association has informed that for wage revision in respect of 8.47 lakh PSB employees due since 1.11.2017, negotiations are under process and that, in the interim, one month’s ad hoc salary has been paid to PSB employees in October 2019.

Source: Rajya Sabha

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