{"id":8222,"date":"2024-03-09T14:24:00","date_gmt":"2024-03-09T08:54:00","guid":{"rendered":"https:\/\/studybizz.com\/schemes\/?p=8222"},"modified":"2024-03-09T14:35:34","modified_gmt":"2024-03-09T09:05:34","slug":"banks-5-days-work-policy-update-revised-payscale","status":"publish","type":"post","link":"https:\/\/studybizz.com\/schemes\/banks-5-days-work-policy-update-revised-payscale\/","title":{"rendered":"Banks 5 days work policy update, Revised Payscale"},"content":{"rendered":"\n

Finally some progress in the much awaited demands of bank employees in the country.<\/p>\n\n\n\n

The annual salary of bank employees will increase by 17%. Pertaining to the same, an agreement was made between the Indian Banks Association and the bank employee unions on Friday. For this, public sector banks will have to spend an additional Rs.8,284 crores per year. <\/p>\n\n\n\n

Along with it, another long pending demand which is a 5 day work policy has also been agreed upon. The All India Banks Officers Confederation agreed to recognize all Saturdays as a holiday so that banks would operate only 5 days a week. Government permission is awaited for this. The revised working hours will come into effect after notification by the government of India.<\/p>\n\n\n\n

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Banks to have all Saturdays declared Holiday<\/figcaption><\/figure>\n\n\n\n

Around 8 lakh bank employees will benefit from this. After adding 8088 DA points, new pay scales have been drawn up for the staff. According to the new wage settlement, women employees have the flexibility to take 1 sick leave per month without submitting any medical certificate. An employee can encash up to 255 days of privileged leave during his\/her retirement. In case of death on duty, this amount shall be paid to the next of kin. Retired employees are provided monthly exgratia along with pension\/family pension. This applies to those who are entitled to receive pension on 31 October 2022, earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"

Finally some progress in the much awaited demands of bank employees in the country. The annual salary of bank employees will increase by […]<\/p>\n

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