XIth BPS Settlement
The wait is finally come to fruitful result for all the public sector employees. Below are latest update from BPS news. After the settlement MOU is to be signed in next 90 days and detailed circulars are expected by 23rd July 2020. Below are the updates available as of now.
Bank BPS( Latest News and Updates)
| Sr. No. | Demand | Current Proposed |
| 1 | 5 Days Working | The demand for 5 day working has been accepted, though the manner in which it should start is expected to be clarified |
| 2 | Wage Increment | 15% wage increment has been accepted. Yes, the one which was proposed by various unions and employees. This comes after so much hard work put in by bank employees even during tough times like COVID-19 Pandemic. |
| 3 | Salary Merger | 478 Slabs Merged. |
| 4 | Load Factor on Basic Pay | 2.25% |
| 5 | Extra Allowances | 13% |
| 6 | Future DA Slab Rate | .07% |
Lets discuss the above points in detail:
5 Days Working:
Unions had again started pressing hard for 5- day working. When the world is taking trails for 4-day productive week, we are still working 2 full weeks at banks in India. With the push for digital economy and hard push from RBI to press for Digital Transactions. It is high time India as an economy should try 5 day working in Banks. With limitations in terms of strength and work pressure. Work Life Balance for Executives and Officers in the PSB are gone for long.
With COVID-19 shaking the world, it comes as a welcoming step. Lets follow the detailed circular to understand the plan being laid by Authorities to see these actions in force. The news of the above Bank BPS has put a cheer on the faces of PSB Employees who had been tolling through the tough times from Demonetisation to GST and now COVID-19.
If you are looking forward to work for a Public Sector Bank in India. Here are a few links to help you get started:
These information are compiled from Knowledge and certain resources. Detailed circular is expected soon.