Sunday, September 13, 2009

wage Revision in Banking Industries, India

Wage revision in Banking Industries is overdue by almost two years now! The dilly dally by Indian Banker's Association for agreeing to a meager hike of even 17.5% appears to be a ridiculous! Where as before election the Central Government and various State Government employees or the employees of various other Public Sector Undertakings were doled out with 30-50% pay hike. Perhaps they were with the view of wooing their votes for ensuing election. Any way , the public sector bank employees have demanded another options for pension, since that was offered once in 1995 and never again. Surprisingly even Reserve Bank of India's employees were offered pension options repeatedly, since it concerns employee's social security. The Indian Banker's Association is ducking this legitimate demand on one or other pretext; that too, when the Public Sector Banks earned around Rs30000 crores during the last fiscal. The amount of bad debts is anything around rupees one lac crores! And for the very political reasons the defaulters are provided covers, as there is no effort from any corner to publish the particulars of the defaulters on non payment of bank loan counts. Obviously, many in power and opposition will be facing embarrassment, as their names are likely to appear in the same list.
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