The Hindu Business Line : Nabard employees to get wage hike

Nearly 5,200 employees and officers of the National Bank for Agriculture and Rural Development (Nabard) stand to benefit from the wage agreements concluded recently between the management and the unions — namely All India Nabard Employees' Association and the Nabard Officers' Association.

Not only will there be wage increases now, pay parity will also be restored with the State Bank of India and Reserve Bank of India, according to Nabard sources.

The wage agreements will slap an additional burden of Rs 39 crore annually on Nabard, but the productivity clauses incorporated in the agreements will help achieve a cost reduction of Rs 32 crore annually, it is learnt. The burden of the additional Rs 7 crore annually, it is therefore felt, will not prove to be huge to an institution having a surplus of more than Rs 1,100 crore.

New productivity clauses

The productivity clauses presuppose extended working hours — 36-and-a-half hours a week for a class III and 39 hours a week for a class IV employee — in line with the rules prevalent in the banking industry as a whole; multi-tasking for class III employees — a class III employee will be required to do multiple tasks and shoulder additional responsibilities; and certain restrictive practices by employees will be dispensed with.

The last wage agreements for Nabard employees and officers having expired on October 31, 2002, the new age agreements became due from November 2002. The agreements signed recently, therefore, will be effective retrospectively and be in force till October 31, 2007.

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