Public banks have played a historically stellar role in financial inclusion and the development of the social sector. They have been the backbone of the government’s socio-economic agenda and have made a transformative impact on the country’s development landscape. But sadly, the contribution of their employees has not been adequately recognized. The government has paid little heed to their worsening service conditions. While there have been paltry raises in salaries, there has been virtual stagnation in pensions for over two decades particularly when inflation has been soaring to such high levels.
Salaries in public banks are far less attractive than in private banks. The only consolation is the provision of pension which too has now been reduced to a measly sum by a strange and unjustifiable logic of the government. This logic doesn’t meet the test set out in several judicial pronouncements as also the stipulations of several publicly recognized welfare codes for senior citizens.
This story is from the December 2020 edition of People Matters.
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This story is from the December 2020 edition of People Matters.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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