wage hike: Five-day work week, big hike: Bonanza for bankers awaits government nod indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The Indian Banks Association and employee unions have agreed on a 17% wage increase and approval for all Saturdays as holidays, benefiting 8 lakh employees.
The wage hike move will result in an additional yearly outgo of around Rs 8,284 crore for public sector banks. As many as 8 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2022.