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Tuesday, July 2, 2019

BANK TO BANK WAGE FORMULA INTRODUCE VERY SOON


11th Bipartite wage settlement for banker due since November 2017 .No one say it will be finalized. IBA  and various bank want variable  pay formula as per health profitability  .and capacity to  abosorb higher wage cost.


Last talk between IBA and bank union was held on 21st June  after the three month break of Loksabha pool.  Next talk will be held after budget .

The capacity to pay is an important factor for wage increase. A new formula already drafted by various bank  that a minimum wage  increase at certaiul level after that bank will decides  and it will market oriented.Variable pay will varies every quater and it will depends on performance and bank's profitbality. Separate package for workman and officer also as per bank profit.

this is 1st time after 1966 bank will ready to introduces variable pay formula.

For details we have to wait more few month 

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