Bank jobs are the most sorted jobs in India today. Bank jobs attract people from all walks of life with their steady pace of career growth and the pace of growth of the industry in itself seems very fascinating. IBPS or Institute for Banking and Personnel Selection has been the independent medium in providing recruitment in banks to the candidates who desire it. IBPS has carried out many successful recruitment cycles in India and have been able to give good jobs to many candidates. Keeping up to its name IBPS 2016 and SBI banks have started to revise their pay, this is an extremely good news for the people working in banks and potential bank officers.
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IBPS 2016 – Pay Revision Started for IBPS and SBI Banks:
Here, is all the information you need to know about the revision of the pay.
The salary of bank employees will see an increase because the Government of India released a notification for initiating the wage revision talks (11th Bipartite Settlement). Though there has always been a great demand for banks jobs and the participation in all the banks exams is great, the salary however has not been as attractive as many other government jobs available.
About the Letter Issued by the Government of India:
The Finance Ministry uploaded a link to a letter on the official website of the ministry of Finance directed to the chief executives of all public sector banks and the subject of this letter says, ‘ Next Wage revision in Public sector Banks’. The content of the letter is a request to the banks to initiate the process of the next wage revision of the employees and conclude this process before 1st November 2017. The letter is signed by Mr. Manish Kumar (under secretary to Govt of India).
Why this sudden change?
Bank officials are terming this initiative of the government as unprecedented, the banks officials also bring to notice that this is the first time ever in history that the two parties have been given sufficient time to arrive at a suitable conclusion which is before the deadline, 1.11.2017
With government laying the foundation for the 11th wage revision talks now is the time when the employee unions association should start the formal process. There are 11 employee Association across India which work for the welfare and of Bank employees and they put forward the charters of demand on behalf of the bank employees. All India Bank Association has accepted the notification of the government in their meeting held on January 13,2016 in Chennai. They have started the formal processes to put forth the final demands.
What might find a place on the charter of demands?
- Higher pay scale for the bank staff
- 5 day work week
- Holiday issues
- Transfer policy.
- Working hours regulation
New salary scale
The new salary scale of IBPS PO and IBPS Clerk will be the outcome of the discussions which are going to be held in the time to come, nothing can be guessed regarding the salary. According to the previous hike, a IBPS PO Salary is approximately Rs. 30-35,000/- per month and IBPS Clerk salary is Rs. 20-25,000/- approx.
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Check IBPS Clerk Salary – Click Here
It is always a good thing to hear about pay hikes and not matter how small or large it is, a pay hike is always a good thing.