The 11th bipartite wage settlement talks between the Indian Banks’ Association (IBA) and state-run banks have included a new formula under which the latter will be given the flexibility to pay their employees in accordance with their profitability and capacity to absorb higher wage costs. This proposal featured in the talks between bank unions and bank managements, which resumed on June 21 under the aegis of the IBA, after a three-month break for the Lok Sabha polls.
The next round of talks is expected to be held after the Union Budget. The fresh approach, centred on the ...
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