Answer Posted / vivek

Dear friends,

Recently , the sixth pay comission has announced a pay hike
of 24 % for all the govt. staff, which includes the central
govtt

Now, as many of you will be aware of, Banks follow a
separate strategy of pay hike. It is done by the IBA (
indian banking association) , in negotiations with the
government, ( the finance ministry people).

Now as you know, 4400 is the basic salary. As of now, the DA
in exces of 50 % must be merged with the basic pay in
calculating the other allowances, like HRA, TA, etc.

and the remaining % of DA must be added along with the basic
pay, together with the HRA, TA, and other incentives.

Now in the sixth pay comission, the govt get rid of the many
pay scales and introduced a new feature called pay band, and
another grade pay.

As per the revised pay, a newly joined Lower Division clerk,
whose basic pay is Rs. 3050, will get a total of about
10,000 rupees in the new scale(6th).


And so , dear friends, you can calculate the salary that is
expected for us.

Now, it is said that the IBA had started negotiations, and
the revised salary will be likely to be announced by the
second quarter of 2009. And when that does happen, the hike
will be surely more than the Govt. sector, because these are
the revenue generating areas to the government. ( banking
,Railways and LIC)

One more thing i want to tell here. Banks have a salary
revision every 5 years , and that happens routinely, as
compared to the govt. sector where a pay comission is set up
every 10 years, and that too after soo much strikes by the
unions.

On top of that, A Bank job is always considered a
respectable job right from early days, and that will
continue in the years to come.

Thanks,
Vivek.

Any Queries, mail me teamvivek@gmail.com

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