Justification for wage revision @23% for Bank employees The demand for wage increase has become more justified and logical in the context of price rise and continuing inflation. But IBA is offering a wage hike of only 11% over the existing payslip cost on the ground that the Banks’ profits are coming down. The fact is otherwise Profits of Public Sector Banks Year Total profit Provision for bad loans,etc. Net profit 31-3-2012 116000 crores 66,000 crores 50,000 cr 31-3-2013 121,000 crores 71,000 crores 50,000 cr 31-3-2014 127,000 crores 90,000 crores 37,000 cr Thus the total profits are increasing but obviously net profit is less due to provision for bad loans which burden should not be passed on to the shoulders of the ordinary employees. In fact, the Unions have assured that we can find out the ways and means to recover the bad loans through stringent measures and improve the profits through better productivity, etc. but it is unfair to deny their legitimate wage increase.
Posted on: Fri, 14 Nov 2014 06:40:52 +0000
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