Financial Daily from THE HINDU group of publications
Tuesday, Oct 12, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 12, 2004 |
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Opinion
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Letters Wage hike
This is with reference to the wage hike of public sector bank staff. For the financial year 2002-03, the total income of the PSBs was Rs 128464 crore, out of which provision for non-performing assets alone was Rs 9,275 crore. While loans of thousands of crores are written off, no bank chairman either gives publicity to it or is worried about it. But when it comes to hike of salary to employee that is yet to be concluded, everybody is worried about "health" of the banking industry. Another banker is worried about payment of arrears. Are these people not aware that the wage settlement is due from November 1, 2002. When they make provision for NPA every year religiously, do they not think it necessary to make provision for legitimate wage increase? When the period of bipartite settlement was increased to five years a decade back, the understanding was to complete each settlement within six months from the expiry of previous settlement. No `banker' has anything to say about this. S. Poornalingam
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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