Seventh Central Pay Commission is the most awaited pay commission in India after the sixth pay commission. There are a large number of employees waiting for the pay commission to be implemented such as the Indian Railways, Indian Posts, and many others. Many people didn’t know that bank employees does not have any effect of this pay commission. They have their own method to calculate the rise in the salary, they usually don’t follow pay commission recommendations but you will find many similarities between bank salary rise and pay commission.
Rumours on Social Media and Media
Many rumours are spreading on social media that bank employees salary rise will be based on the new pay commission i.e. 7th Pay Commission. IBA Chairman Mr.TM Bhasin has negated to the effect that there is no proposal with IBA for bringing Bank Employees under the purview of 7th Commission.
The Seventh Pay Commission was constituted in February, 2014 to look into the matter of employees pay scale, pay band, service matters, issues, possibility of salary rise, and much others.
As many as 8,00,000 Bank Employees belonging to public sector banks in India are eagerly expecting 10th Bank Bipartite Wage Settlement effective from November 2012. While Bank Trade Unions representing Bank Employees are demanding 25% increase in Wages, IBA offers only 11% increase. In the past, bank employees also threaten to go on indefinite strike against low salary hike.
The Government of India is also not planning to include bank employees under the seventh pay commission recommendations. Let’s wait and watch, what will happen to the matter.
Bank Employees Demand
It is expected that after implementations of 7th Pay Commission recommendations, bank employees may demand more increment and hike in salary.
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Note: If you are looking for new pay scale after implementation of the seventh pay commission, then visit this article.
Article last re-published on June 29, 2016.