Bank staff salaries to go up by 13.25 per cent

Mumbai: With the conclusion of talks between the Indian Banks' Association (IBA) and unions late yesterday evening, the salaries of bank employees will go up with retrospective effect from November 2002.

While bank officers will get an increase of Rs3,625 per month, a clerk will get an additional Rs2,225 a month. The revision will determine the salary structure in 27 public sector banks till November 2007, beginning November 1, 2002, for about 757,000 employees, including officers and other staff.

With this agreement, banks will see their salary bills rise by 13.25 per cent.

The bank unions have also agreed to limited transfers of clerical staff, one of the demands of the banks management. "We have agreed that the staff will move within a district, irrespective of the distance and up to 100 kilometres outside a district," said AK Jana, president, All India Bank Officers' Confederation.