Financial Daily from THE HINDU group of publications
Thursday, Oct 14, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 14, 2004 |
||
|
|
||
|
Money & Banking
-
Trade & Labour Unions OBC unions protest high wages to ex-GTB staff Our Bureau
The employees of Oriental Bank of Commerce on a dharna in front of the regional office in Hyderabad on Wednesday to press their charter of demands. - - A. Roy Chowdhury
Hyderabad , Oct. 13 OPPOSING the high salaries being paid to the employees of erstwhile Global Trust Bank (GTB) that is in the process merging with Oriental Bank of Commerce (OBC), the employees of the latter staged a dharna at the regional office of the bank here on Wednesday. According to the representatives of the All India Oriental Bank Employees' Federation (AIOBEF) and the All India Oriental Bank Officers' Association (AIOBOA), both the unions have decided to express their protest on the issue by resorting to demonstrations, mass memorandums, badge wearing and dharnas. The General Secretary of Andhra Pradesh Bank Employees' Federation (APBEF), Mr B.S. Ram Babu, the Vice-President of AP Bank Officers' Association (APBIA), Mr Markandeyulu, and the AP Chapter Secretary of AIOBOA, Mr Bhaskar Kumbala, said the wages and services of erstwhile GTB staff should be at par with and in terms of industry level settlements and Officers' Service Regulation as applicable to OBC. According to them, the 1,300-odd employees of erstwhile GTB have salary scales that are significantly higher than that of OBC employees. As per the draft amalgamation scheme announced by the RBI, the employee salaries of erstwhile GTB would be protected for a maximum of three years even after it is amalgamated into OBC. The scheme also envisages that before the stipulated period, salary levels should be aligned at both the banks depending on the qualification and experience of the employees. According to representatives of the staff and officers Unions, OBC being a nationalised bank has its salary levels dictated to by the Government. They say that at GTB, an assistant vice-president earns up to Rs 60,000 a month, which is around Rs 25,000 more than the monthly salary of the Chairman and Managing Director of a nationalised bank.
More Stories on : Trade & Labour Unions | Public Sector Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|