Bank officers want pay equality with central govt officers

Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic

At a time when the government is contemplating cutting employee benefits to 10 laggard public sector banks, bank officers have demanded that they should be given revised basic pay at par with central government officers on the same principles of 7th Pay Commission.

The negotiations have not started yet, as not all banks have given the mandate to Indian Banks Association (IBA) to negotiate on their behalf. Meanwhile, United Forum of Bank Unions, the umbrella organisation of bank unions, is yet to appoint coordinator for negotiations. But unions on a standalone basis have started to demand high emoluments. At the