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BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first*** DA FOR BANKER FROM FEBRUARY 2023 SEE DETAILS CHART FOR OFFICER AND WORKMAN***Outcome of Today’s meeting with IBA - 31.01.2023***All India Bank Strike 27.06.2022******PLEASE VISIT INDIAN TOURISM CULTURE & HERITAGE *****NITI Aayog finalised names of Two public sector banks and one general Insurance Co. for privatisation****No economic reason to privatise PSU banks---post date 24.05.2021******Mobile users may soon be able to switch from postpaid to prepaid and vice versa using OTP*****India May Privatise or Shut 46 PSUs in First 100 Days, Says NITI Aayog's Rajiv Kumar----We should start with the banks*****Expected DA for Bank Employee from August 2019 is 24 slab to 29 slab*****RTGS time window from 4:30 pm to 6:00 pm. with effect from June 01.06.2019******WITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI***** Salient features of Sukanya Samriddhi Account---Who can open and how?******OBC posts 39% rise in Q4 profit, OBC readt tWITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI o take another Bank--MD MUkesh Jain*******DA FOR BANKER FROM NOV 2018 IS INCREASE 66 SLAB I.E 6.60%****40,000 STANDARD DEDUCTION IN YOUR TAX - IS A GREAT DRAM/BLUFF BY JAITLY SEE DETAILS+++++++Cabinet approves plans to merge PSU banks-The final scheme will be notified by the central government in consultation with the Reserve Bank. post date 23.08.2017****IBA to restrict the negotiations on Charter of Demands of Officers' Associations up to Scale-III only post dated 07.07.2017*****

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BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Tuesday, November 3, 2015

Recent media report suggests minimum 30% hike in Basic salary after 7th pay commission

The print and web media is being flooded with possibilities and rumors of which most of them are baseless. But Govt. employees are desperately looking for any information about the possible recommendations of the seventh pay commission. They have been patiently waiting for the last eighteen months, after the pay commission set up. The tenure has been extended and so the waiting period.
The recent media report published in India Today has emphasized on some key points of seventh pay commission which is reproduced below. Please note that, it is not exactly the view of the publisher of this blog, especially about the retirement age factor as described below. As per our information, seventh CPC is not going to suggest any reduction of retirement age.
Following are the key points as per media report :


"1. Around 48 lakh central government employees and 55 lakh pensioners will benefit from the Seventh Pay Commission.
2. The Pay Commission was set up by the UPA government during its regime. The recent changes have come under the influence of the NDA government.
3. Former IAS officer Vivek Rae, economist Rathin Roy and Commission secretary Meena Agarwal are members of the commission among others.
4. The salaries of IPS and IRS officers will get at par with that of IAS officers under the new commission.
5. In order to cut down parity, the number of pay bands will be reduced. At present, there are 32 pay bands, which will reduce to 13.
6. The central government's salary bill will rise by 9.5 percent to Rs 1,00,619 crore after the commission takes effect.
7. Under the pay commission, the government can cut down salaries of the 'underperforming' central government by 5 to 6 percent.
8. The duration of service will also be reduced to 55 years of age or 33 years of service.
9. The Seventh Pay Commission is said to increase basic salaries by 30 to 40 percent. The basic salary set in the First Pay Commission was Rs 35 per month."
Source : India Today & paycommission update

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