LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

7th pay commission: For pay benefits sake, these employees take things in own hands

7th pay commission: Without a doubt, the most important aspect under the spotlight for central government employees is the uncertainty surrounding their salaries, which has been continuing for years now and there does not seem to a shred of light being shed by authorities in recent months about whether the 7th CPC pay issue is on the table.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
7th pay commission: For pay benefits sake, these employees take things in own hands
7th pay commission: Issues of pay hikes is also something that other sectors too are having to grapple with. Image source: PTI
Written By: ZeeBiz WebTeam
Updated: Mon, Jul 30, 2018
08:24 am
ZeeBiz WebDesk
RELATED NEWS
7th Pay Commission Latest News: Central government employees' alert! one mistake could cost you your LTC claim—check report 7th Pay Commission Latest News: Central government employees' alert! one mistake could cost you your LTC claim—check report
7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021? 7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021?
7th Pay Commission latest news today: Big Holi gift for Central government employees! Center issues this notification on 7th CPC leave rule 7th Pay Commission latest news today: Big Holi gift for Central government employees! Center issues this notification on 7th CPC leave rule
7th Pay Commission latest news: REVEALED! Salary may be affected by New Wage Code - know details 7th Pay Commission latest news: REVEALED! Salary may be affected by New Wage Code - know details
7th Pay Commission: Who gets double pension and in which case—EXPLAINED  7th Pay Commission: Who gets double pension and in which case—EXPLAINED

7th pay commission: Without a doubt, the most important aspect under the spotlight for central government employees is the uncertainty surrounding their salaries, which has been continuing for years now and there does not seem to a shred of light being shed by authorities in recent months about whether the 7th pay commission pay issue is on the table. Yes, there have been other big benefits that have been either cleared or are being mulled in recent weeks, but the most important one is about salary hikes and this issue is surrounded by a cloud of doubt.

Issues of wage hikes is also something that the banking sector too is having to grapple with. However, unlike the central government employees, the bank employees have gone beyond just threats and have actually resorted to strikes in recent times to press the issue of wage hikes. Now, they are all set to resort to another strike unless their demands are met!

However, central government employees and their demands for 7th pay commission linked salary hikes is, for now, totally divorced from any calls for strikes and protests. The difference is that the banking staff is unwilling to stay put and have taken things into their own hands. On Monday, the top banking lobby Indian Banks Association (IBA) as well as the bank employees unions will meet to negotiate pay hikes for some 37 banks. These are not just public sector banks, but also span private and even foreign banks. Bank unions are represented by United Forum of Bank Unions and they will decide on their behalf what steps to take to ensure their demands for wage hikes are accepted by authorities.

Bank employees salary revision is pending from November 2017. In the last meeting between these entities on May 5, 2018, bank employees were offered a meagre 2% salary hike by the IBA. Since this was unacceptable to the unions, they started a two-day strike from May 30. Employees want, not 2%, but a 25 per cent salary hike! However, UFBU convener for Maharashtra, Devidas Tuljapurkar said, "We are open for negotiations." Thereby indicating a lower figure would be acceptabe too. Tuljapurkar added, "So far, the wage revisions have always been in double-digits, which we are okay with, but 2% is not acceptable to us."

Banks, on their part, are pointing to the massive NPA crisis they are going through for offering such a nominal hike. The unions said the employees are not responsible for that and in fact they have been working extremely hard to implement various government schemes. This is quite in contrast with 7th pay commission based demands of central government employees. After initially threatening to go on strike, they have preferred to stay silent on the issue of raising the fitment factor to 3.68 times and for minimum salaries to rise to 3.68 times. As far as the banking sector is concerned, the battle lines have been drawn and troops are hunkered down in the trenches. It remains to be seen whether another strike is in the offing.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
7th Pay commission7th CPCSeventh pay commissioncentral government employees
RELATED NEWS
7th Pay Commission Latest News: Central government employees' alert! one mistake could cost you your LTC claim—check report 7th Pay Commission Latest News: Central government employees' alert! one mistake could cost you your LTC claim—check report
7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021? 7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021?
7th Pay Commission latest news today: Big Holi gift for Central government employees! Center issues this notification on 7th CPC leave rule 7th Pay Commission latest news today: Big Holi gift for Central government employees! Center issues this notification on 7th CPC leave rule
7th Pay Commission latest news: REVEALED! Salary may be affected by New Wage Code - know details 7th Pay Commission latest news: REVEALED! Salary may be affected by New Wage Code - know details
7th Pay Commission: Who gets double pension and in which case—EXPLAINED  7th Pay Commission: Who gets double pension and in which case—EXPLAINED

LATEST NEWS

Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range, says investors should trade keeping volatility in mind

Stock Market Outlook: Focus will be on these - Check what share bazaar experts, analysts opined

REVEALED! What gave a massive 400% jump to FDI in computer software, hardware during Apr-Dec 2020

Gold Price Outlook: Yellow metal falls by over Rs 11,500 in last six months; may crash much more

LIVE: IIT JEE Mains 2021 Result February - Date, time, declaration on NTA website direct link jeemain.nta.nic.in, download answer key, score checking and more

US continues to see drop in new Covid cases

Mumbai-Ahmedabad Bullet Train: Tech bids open for bridge project - Check latest news development

Facebook removes 1,521 malicious accounts in Feb

ITC Share Price: Experts give 'share to buy' tag; predicts up to 25% profit in three months

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved