Ministry of Finance, Department of Financial Services had approved the 11th Bipartite Wage Settlement and give the Non Objection on behalf of the Government to Public Sector Banks to make arrears and revised salary payment to existing employees.
They have also provided the NOC for paying enhanced pension or family pension as per the 11th BPS settlement terms.
The Arrears and revised salary will be paid from the month of December 2020.
A mixed response from the bankers as they waited for long 3 years for this. The hike given to them was not appreciating i.e. 15%, if compare with the risk and work pressure.
The signed NOC by DFS to IBA :
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