The communication from GOI to individual banks to start 11th BPS was prompted by the LIC wage revision that was notified by the government on 14-06-2016. At the lowest end (AAO in LIC of India and Officer in JMGS I in banks), the gross salary per month in Metros is Rs.48,800 and Rs.38,703 respectively, signifying a variance of 26.09%. At the highest level (ZM-S in LIC and GM in banks), the gross salary per month in Metros is Rs.140,421 and Rs.197,342 respectively, signifying a variance of 40.54%. That's why I say by the next wage revision, the gap between bank staff and LIC staff may widen further, so that LIC staff will receive twice the salary of bank staff in November, 2017.
After the 7th CPC recommendations are notified, bank staff will be exposed to greater shock.
After the 7th CPC recommendations are notified, bank staff will be exposed to greater shock.
| Comparison of latest wage settlement for officers in Banks and LIC of India | ||||
| S No | Comparative parameters | Banks | LIC of India | Difference |
| 1 | Notional Basic Pay as on 31-07-2012 | 100 | 100 | |
| 2 | D.A. merged with Basic Pay this time (AICPI) | 4440 | 4708 | |
| 3 | D.A. merged with Basic Pay last time (AICPI) | 2836 | 2944 | |
| 4 | Difference between (2) and (3) | 1604 | 1764 | |
| 5 | % of D.A. merged with D.A. this time | 60.15 | 66.15 | |
| 6 | Revised Basic Pay after D.A. merger | 160.15 | 166.15 | |
| 7 | Additional load made this time in Basic Pay | 2% | 14.49% | 12.49% |
| 8 | Revised Basic Pay after additional load | 163.45 | 190.23 | 16.38% |
| 9 | Minimum Basic Pay - Lowest Grade (Last time) | 14,500 | 17,240 | 18.90% |
| 10 | Maximum Basic Pay - Highest Grade (Last time) | 52,000 | 59,850 | 15.10% |
| 11 | Minimum Basic Pay - Lowest Grade (This time) | 23,700 | 32,795 | 38.38% |
| 12 | Maximum Basic Pay - Highest Grade (This time) | 85,000 | 124,295 | 46.23% |
| 13 | Gross Monthly Salary in Metros - Lowest | 38,703 | 48,800 | 26.09% |
| 14 | Gross Monthly Salary in Metros - Highest | 140,421 | 197,342 | 40.54% |
| 15 | Revised H.R.A. | 7%/8%/9% | 7%/8%/10% | |
| 16 | Revised C.C.A. | 3%/4% | 2%/2.5%/3% | |
| 17 | Medical Aid (Rs.) | 8,000/9,050 | 13,300/19,940 | |
| Note | Government of India has notified the wage revision in LIC of India on 14-01-2016. | |||
| In LIC of India, '5 day week' has been agreed upon. | ||||
| Date | 16-01-2016 | pannvalan | ||
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