...........While PSBs in the first nine months have charged additional R4,250 crore to income statement towards amortisation related to enhancement in gratuity limit and re-opening of pension option for existing employees (in line with RBI’s February 9, 2011, circular); some banks like SBI have made provision of R1,800 crore towards additional pension liability. PSBs have also made additional provision of nearly R3,300 crore in the nine-month period on ad-hoc basis for wage revision effective November 2012..........
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