The Hindu Business Line : Bank wage revision

The wage revision demand of unions in public sector/scheduled banks has not been considered favourably by the IBA/ Government despite various rounds of talks. It is a open fact that now bank employees are paid less than government employees. Now bank employees need salary revision similar to Sixth Pay Commission.

Many banks have recruited clerical and officer-level staff recently. But many new appointees in the clerical cadre are either not joining the service or leave the job within one year because of poor wage structure, transferrability and operational risks.

At present, a clerk gets nearly Rs 8000 per month initially, and an officer Rs 15000. Newly recruited officers also leave the job because of long working hours, six-day week, transferrability, too many expectations from the higher management, financial risks, etc.

Last, there are talks of merger of banks which will result in merger of various banks branches, and could also mean closure of some bank offices. All this justifies the demand of pay revision in banks.

B. L. Maheshwari

Jaipur