Higher Responsibilities with Better Pay Scale to Bank Employees

Higher Responsibilities with Better Pay Scale to Bank Employees

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
RAJYA SABHA

QUESTION NO 129
ANSWERED ON 14.03.2017

Higher responsibilities /better pay scale to bank employees

129 Shri Mahendra Singh Mahra

Will the Minister of FINANCE be pleased to satate :-

(a) whether the performances of the bank employees is satisfactory during and after the demonetisation scheme;

(b) if so, whether Government contemplates to entrust more responsibilities on them to remove “black money” from the system; and

(c) if so, whether Government plans to compensate them for such additional responsibilities or whether it is contemplated to grant a pay scale to bank employees better than Central Government employees in forthcoming 11th Bipartite Settlement and the details thereof?

ANSWER

The Finance Minister

(a) to (c): A Statement is laid on the Table of the House.

RAJYA SABHA STARRED QUESTION NO.*129 FOR ANSWER ON THE 14TH MARCH, 2017 REGARDING ‘HIGHER RESPONSIBILITIES/BETTER PAY SCALE TO BANK EMPLOYEES POST-DEMONETIZATION’ ‘TABLED BY SHRI MAHENDRA SINGH MAHRA MEMBER OF PARLIAMENT.

(a) to (c) : There was overall, a widespread appreciation of hard work put in by Bank employees consequent upon withdrawal of legal tender status of currency notes of specified denominations.

Within the larger Governmental framework, banks report financial intelligence to enforcement agencies to check money laundering, terrorism financing and other economic offences. Banks maintain and examine records of high-value cash transactions above a specified threshold as well as suspicious transactions.

Wages in Public Sector Banks (PSBs) are decided at industry level every five years by a bipartite negotiation process. Compensation issues of employees of PSBs are agreed upon through this process.

Source: Rajya Sabha