"FINANCE MINISTRY:'We agree to
implement around 15% raise in the GROSS SALARY of all employees of
PSU Banks in India with effect from November 2012, but, you have to
accept the condition that if any PSU Bank continues to run in a loss
for 3 years successively, then it will be merged with a profitable
PSU Bank without any hesitation.' UNIONS OF PSU BANK EMPLOYEES:'Ok!
We agree to it, but, we also have two conditions.
Firstly, if the maximum age for bank employees is increased to 62
years, then, after completion of 60 years only, an employee should
get his/her PF, Gratuity and Pension Amount. Secondly, all employees
should be recruited in any PSU Bank through IBPS Recruitment Process
only.' FINANCE MINISTRY:'We will re-think about it as all the Unions
are not in favour of implementing the Bipartite Settlement at this
moment in order to get a good return of 4% levy on the salary arrears
of PSU Bank Employees.'"-Arindam Sain
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