Tuesday, August 22, 2017

COMMENTS NO: YEAR/2013/614

"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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