Central Pay Commission recommendations are not applicable to the employees of Public Sector Banks

Central Pay Commission recommendations are not applicable to the employees of Public Sector Banks Whether the Central Pay Commission benefits are not applicable for employees of banks...? The question has been raised by the Hon'ble member in Parliament, the concerned ministry replied that the 'Central Pay Commission recommendations are not applicable to the employees of Public Sector Banks'. And also answered to the supplementary question of how their salaries are revised. "The pay … [Read more...]

Recommendations of Central Pay Commission are not applicable to Public Sector Bank Employees…

Recommendations of Central Pay Commission are not applicable to Public Sector Bank Employees... Recommendations of Central Pay Commission are not applicable to Public Sector Bank Employees. The pay scales of employees in PSBs are revised every 5 years on the basis of the BIPARTITE SETTLEMENT SIGNED WITH WORKMEN UNIONS AND JOINT NOTE SIGNED WITH OFFICERS ASSOCIATIONS BY Indian Bank's Association. Public Sector Bank Employees Pension Scheme Public Sector Bank(PSB) employees pension scheme : … [Read more...]

Call to increase retirement age of bank employees to 65

Call to increase retirement age of bank employees to 65 The retirement age for bank employees should be increased to 65 for better utilisation of the services of seniors, said INTUC national president G. Sanjeeva Reddy. Many officers were joining private financial institutions after their superannuation and extending quality services. The Public Sector Units were unable to make use of their services fully as they were retiring by 60, he opined. Speaking after inaugurating the Eighth Biennial … [Read more...]

DA & DR Orders issued by IBA

DA & DR Orders issued by IBA Indian Banks' Association issued orders regarding the Dearness allowance and Dearness relief to workmen and officer employees and pensioners of banks for the period February 2013 to July 2013. … [Read more...]

Dearness Allowance for Bank Employees from August 2012

Dearness Allowance for Bank Employees from August 2012 According to the release of All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended July 2012, Dearness allowance for workmen and officers in banks for the month of August, September and October 2012 under IX BPS/Joint Note dt.27.4.10 will be 70.20%, i.e. increased by 6% from the current level. Average CPI numbers for Industrial workers (Base 1960=100) for the quarter ended July 2012 as … [Read more...]