10 BPS..revised pay structure in Public Sector Banks

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This is with reference to the revision of pay scales in banking industry. It is a wonder that the culture in the industry is very transparent and people work with complete dedication but in return get a very low salary. When the public secto...
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This is with reference to the revision of pay scales in banking industry.  It is a wonder that the culture in the industry is very transparent and people work with complete dedication but in return get a very low salary. When the public sector banks are working under central government control then why they are not under the purview of Pay Commissions?. People are working in banks under tremendous pressure with negligible rewards comparatively in form of their salary. People in other central government departments starting from clerk and even primary school teachers have more salary than PO in banks. Moreover they are much at ease in their working environment and are involved in other corrupt activities. A special committee is constituted once in every 10 years to see a scope in revision of pay scales of central government. On the other hand, there has been no committee to see such provisions in the banking industry. The bank unions are negotiating on a single percentage points since last one and half year. The Indian banks association gave a hike of 5 percent to the union of banks against the demand of 40 percent hike in the previous UPA government. It is a matter of shame that bipartite settlement was to be implemented in November 2012 and since then 12-13 rounds of meeting are held between IBA and bank unions but they are unable to settle on a win-win situation. People in clerical cadre are made to work till 6 pm in a meager salary of Rs 15500 approx. The government has turned down the 5 day week proposal of the union which in turn makes the job profile very hectic with totally unregulated working hours from Monday to Saturday. The competition in IBPS is getting tougher and tougher and after clearing it aspirants see a much poor picture creating discontent amongst them. Banking industry is totally neglected by the government and it seems as if government is keeping such pay scales to balance the NPAs. NPAs are bound to come with large lending until some stern action is taken against the defaulters. But, decent pay packages are our rite which must be at par with central government pay scales. Some days back RBI Governor Dr. Raghuram Rajan also expressed the need to revise the pay scales of public sector banks in aftermath of syndicate bank chairman's arrest.

We would request all the new joiners and aspirants preparing for banking examination that instead of being impatient and leaving the job which you have got with your hard work, think about taking some stand and discuss the issue seriously on a large scale which would compel government to consider the demands with top priority being a very genuine case.

During the last meeting on 27th June with new finance minister Mr. Arun Jaitely where he assured of taking immediate steps and directed the financial services secretary to take this matter into account has given no results till now.

We need to uplift our standards to travel in bullet trains in future. So, it can't be done with this type of attitude. Your suggestions are welcome and some strong steps are needed to be taken with immediate effect to get a decent hike. (At least 25- 30 percent)

Hope it would bring some change and take our demands to the new government which claims of 'ache din'.

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