Bank Employees Wage Revision which was implemented in May 2015 wef November 2012 is in news again. The wage revision of the bank employees which was due in November 2012 was implemented almost after 2 years 9 months. The next wage revision is now due in November 2017.
The wage revision of Bank Employees is done after every 5 years. Normally the wage revision is implemented after 2-3 years which is a practice going from a long time. These 2-3 years passes due to several round of negotiations between bank unions and IBA.
Bank Employees Wage Revision
However the government has now decided to streamline the process of Bank Employee Wage Revision. The Government of India has issued a notification about the next wage revision talks (11th Bipartite Settlement) which is due in November 2017. The government has directed all banks to complete the negotiation process before November 2017 so that there may not be any delay in the wage revision.
We are providing you a copy of the government letter.
What will be the impact of it?
The impact of this decision will be that the bank employee will enjoy another wage revision in just two years time. The bank employees are complaining about their salaries despite the latest wage revision which took place in 2015. However with another revision in 2017 their salary will further enhance.
Salary is one of the most important factors which is being examined by the candidates while applying for government jobs. The current salary of Bank PO and salary of Bank Clerk is already quite handsome. Another wage revision will make it further better. So if you are preparing for bank exams this is really very good news.
The bank unions as well as entire fraternity of bank employees have welcomed this surprise development. This news regarding Bank Employees Wage Revision has really motivated both employees as well as students preparing for Bank Exams.