Wage Revision Settlement of Bank Employees – Lok Sabha QA By Vinotha Tilak

Wage Revision of Bank Employees

D. Ravikumar

Will the Minister of FINANCE be pleased to state:

(a) whether a wage revision settlement for more than 10 lakh bank employees and officers has been stuck for more than two years;

(b) if so, the reasons therefor; and

(c) whether the Government proposes to settle the wage negotiation in amicable manner and if so, the details thereof?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE

(a) to (c): Wages in PSBs are settled every five years through bipartite settlement between the Indian Banks’ Association (which negotiates on behalf of bank managements on their specific mandate) and unions/ associations of bank employees. PSBs had been requested by the Government to expedite steps for wage revision. Indian Banks’ Association (IBA) has informed that it has been in negotiations for wage revision in respect of 8.47 lakh PSB employees due since 1.11.2017. IBA has also informed that one month’s ad hoc salary has been paid to PSB employees in October 2019.

Source: Lok Sabha