FINMIN SEEKS STATUS REPORT ON PAY REVISION TALKS FROM PSB

FINMIN SEEKS STATUS REPORT ON PAY REVISION TALKS FROM PSB

Keen to close pay negotiations in public sector banks by November 1, 2017, the Finance Ministry has asked the lenders to present status report on salary hike talks with their employee unions.

The chief executives of PSBs have been asked to intimate the ministry about “the present status/action taken by them so as to conclude the negotiations/next wage settlement by the effective date i.e November 1, 2017 positively”.

In January, the PSBs were asked to initiate the process of negotiations with the employees and conclude it prior to the effective date of November 1, 2017.

The communication to PSBs regarding wages comes in the backdrop of banks union threatening to join the strike called by trade unions on September 2 to protest against what they call anti-people policies of the government.

The wage revision of public sector bank employees has been due since November 2012. In the last wage negotiation between PSU banks employee unions and bank management, Indian Banks’ Association (IBA) had settled at 15 per cent hike.

There are 27 public sector banks in the country with a combined employee strength of about eight lakh. There are about 50,000 branches of these banks across the country.

Recently, RBI Governor Raghuram Rajan had said all public sector banks tend to over-pay at the bottom but under-pay their top executives, even as he rued, albeit jokingly, himself being “under-paid”.

Source : economictimes

List of Public Sector and Private Sector banks in India

List of Public Sector and Private Sector banks in India

Name of the banks with category wise are given below…

Public Sector Banks

1.Allahabad Bank
2.Andhra Bank
3.Bank of Baroda
4.Bank of India
5.Bank of Maharashtra
6.Canara Bank
7.Central Bank of India
8.Corporation Bank
9.Dena Bank
10.Indian Bank
11.Indian Overseas Bank
12.Oriental Bank of Commerce
13.Punjab & Sind Bank
14.Punjab National Bank
15.Syndicate Bank
16.UCO Bank
17.Union Bank of India
18.United Bank of India
19.Vijaya Bank
TOTAL OF 19 NATIONALISED BANKS
State Bank of India (SBI)

ASSOCIATES OF SBI
1.State Bank of Bikaner & Jaipur
2.State Bank of Hyderabad
3.State Bank of Mysore
4.State Bank of Patiala
5.State Bank of Travancore
TOTAL OF 5 ASSOCIATES

TOTAL OF STATE BANK GROUP 6

Other Public Sector Bank
IDBI Ltd.

TOTAL OF 26 PUBLIC SECTOR BANKS 

Private Sector Banks

1.City Union Bank Ltd.
2.ING Vysya Bank Ltd.
3.Tamilnad Mercantile Bank Ltd.
4.The Catholic Syrian Bank Ltd.
5.Dhanlaxmi Bank Ltd
6.The Federal Bank Ltd.
7.The Jammu & Kashmir Bank Ltd.
8.The Karnataka Bank Ltd.
9.The Karur Vysya Bank Ltd.
10.The Lakshmi Vilas Bank Ltd.
11.Nainital Bank Ltd.
12.RBL Bank
13.The South Indian Bank Ltd.
TOTAL OF 13 PVT BANKS

NEW PRIVATE SECTOR BANKS
1.Axis Bank Ltd.
2.Development Credit Bank Ltd.
3.HDFC Bank Ltd.
4.ICICI Bank Ltd.
5.Indusind Bank Ltd.
6.Kotak Mahindra Bank Ltd.
7.YES Bank
TOTAL OF 7 NEW PVT BANKS

TOTAL OF 20 PVT BANKS