GulfHindi English Desk: The Indian government has directed the Indian Banks Association (IBA) to begin negotiations for salary hikes for employees of public sector banks. The Ministry of Finance has urged the IBA to complete these discussions by December 1, 2023. This move is expected to enhance the salary growth of bank employees. The current salary agreement for public sector banks expired on November 1, 2022, and the government is currently in the process of negotiating with unions representing bank employees.
The Ministry of Finance has assured that the interests of government bank employees will be fully protected. The government is confident that the IBA will successfully reach an agreement through negotiations with various bank unions.
While there has been a history of delays in salary hikes in banks, the government is making efforts to resolve this matter promptly. The IBA has also expressed its commitment to pursuing negotiations that are beneficial for both bank employees and the banks themselves.
In order to provide important information, a table has been included that shows the percentage increase in salary for different time periods. The salary hike for the period 2020-2022 is still pending, and a decision is yet to be made for the period until 2023.
Overall, this news brings positive developments for employees of Indian government banks, as negotiations for salary hikes have been initiated.
en.gulfhindi.com News Summary
👉The Indian government has instructed the Indian Banks’ Association (IBA) to initiate salary hike negotiations for government bank employees.
👉The discussions on salary hike are expected to be completed by December 1, 2023, and will lead to an increase in the salaries of bank employees.
👉The current salary agreement for public sector banks expired on November 1, 2022, and the government is currently in the process of negotiating with bank unions representing the employees.
👉The Ministry of Finance is fully committed to ensuring the security of the interests of government bank employees and believes that negotiations with different bank unions through the IBA will lead to a settlement.
👉Although there has been a history of delays in salary hikes in banks, the government is making efforts to resolve the matter quickly this time.
👉The IBA has also expressed its commitment to reaching an agreement that benefits both bank employees and banks.
👉Important information table on salary hikes:
👉2010-2015: 15% increase
👉2015-2020: 15% increase
👉2020-2022: Decision pending
👉Until 2023: Decision pending
You are reading Mid-East Award Winning news outlet GulfHindi
