The Ministry of Finance has asked the Indian Banks’ Association (IBA) to finalize the wage revision of bankers of public sector banks (PSU banks) by December 1, 2023.
The current wage agreement for PSU bank employees expired on November 1, 2022. The IBA and the unions representing PSU bank employees have been negotiating a new wage agreement since then.
FinMin’s letter to the IBA said that the government is “committed to ensuring that the interests of bank employees are safeguarded.” The letter also said that the government is “confident that the IBA and the unions will be able to reach an early and amicable settlement.”
Source: Business Today
