The central bank's move comes as the next wage revision kicks in from November
The decision on increase in wages and pensions in public sector banks is more than a year away, but the Reserve Bank of India (RBI) has already asked banks to start making adequate provisioning. That’s because banks will have to pay arrears from November 2012, even though the Indian Banks Association has informed banks that an agreement with unions on wage revision will be reached by March 2014.............
1 comment:
It is a good advice to Banks. What RBI is doing to its pensioners? With sufficient funds in its kitty RBI has not updated the pension for its own employees for years and they suffer the worst in these days of Spiralling inflation. It is better to keep ones' own house in order before tendering advice to thers. That carries conviction.
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