Application of Pay Commision Recomandations to bank employees: Plus Points: 1. Salary will go up atleast by 20% to 70% Sub staff will get lowest and GM will get highest pay rise. Because of historical deneutralisation of DA from 1951. 2. For bankers in higher grades the benefits are excellent. 3. Automatic conversion of DA into Basic after crossing 50% mark, presently bankers need BPS to achieve this). 4. Good HRA CCA 5. Automatic upgradation of pension with each pay commision including one rank one pay principal. Minus points: 6. DA rise will be half yearly instead of quarterly (insignificant loss considering the good pay rise and auto Basic conversion.) 7. No role for unions except a hearing by pay commision. Thus all UFBU will loose their sole bargaining agent position. Hence, except Ashwani Rana of NOBW no union has so far welcomed the proposal. 8. IBA will also loose its importance as it will have to divert the force on more constructive effors of cleaning banks. 9. BPS is done every five years with delay of 2.5 years, while Pay Commision is every 10 years and delay is about 5 to 6 years.
Posted on: Wed, 15 Oct 2014 11:45:51 +0000
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