The Hush Post: Following wage revision talks between Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU), bank employees have decided to go on a strike as it has proposed only 2 per cent hike in the salaries due to Non Profitable Assets (NPA).
The banks’ association had proposed an average pay increase of two per cent to employees on account of negligence of assets and decreasing profitability. The proposed increase includes basic salary and house rent allowance, among another components.
S Nagrajan, the head of the All-India Bank Officers’ Association, said, “Indians Bank Association has offered two per cent in the payslip component,” adding that, “There will be a demonstration on May 9 throughout the country, demanding a higher pay increase.” Though the salaries of public sector bank (PSB) employees are reconsidered after every five years and are pending since November1, 2017. The existing such increase was made at an average of 15 per cent in May 2015 and was backdated from November 2012.
“We are not being given a wage rise because of higher Non Profitable Assets,” Nagrajan said adding that “Banks are not coming up with reasonable offers. It is absolutely not acceptable.” After the merger of six lenders with the State Bank of India (SBI), there are 21 PSBs in India which employ around eight lakh people in total.