The finance ministry has
unshackled public sector banks from decades-old practice of uniform wage
increases for nearly 10 lakh staff and permitted 26 lenders to provide salary
raises based on performance, two bank chairman said. But it is the trade unions
that will decide whether the move succeeds. Rajiv Takru, secretary (financial services),
told bank chiefs at a meeting on Wednesday that they are free to provide
increases provided they have been performing well. But weak banks have been
ordered to limit increments to about 10% as the pile of bad loans may not
justify asteeper increase, said bank chairmen who attended the meet but did not
want to be identified. ..Read More
15:12
Insuance Bharat
The finance ministry has
unshackled public sector banks from decades-old practice of uniform wage
increases for nearly 10 lakh staff and permitted 26 lenders to provide salary
raises based on performance, two bank chairman said. But it is the trade unions
that will decide whether the move succeeds. Rajiv Takru, secretary (financial services),
told bank chiefs at a meeting on Wednesday that they are free to provide
increases provided they have been performing well. But weak banks have been
ordered to limit increments to about 10% as the pile of bad loans may not
justify asteeper increase, said bank chairmen who attended the meet but did not
want to be identified. ..Read More
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