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A NOTE ON SALARY PACKAGE OF BANK OFFICERS

(Submitted to the Finance Secretary, Government of India for Consideration)

We furnish below the Performance indicators of Public Sector Banks, as on date


of last salary revision (2002). due date of salary revision (2007) and present
(2009)

( Rs.in Crs.)
%
2002 2007 % 2009 %
increase
increase
Deposits 9,68,749 19,94,199 105.80 31,12,748 221.31
Advances 4,80,680 14,40,146 199.60 22.60,155 370.19
Total Business 14,49,429 34,34,345 136.94 53,12.903 270.69
Net Profit 8,302 20,398 145.69 34,319 313-38
Business/ 1.92 7 .55 290.22 11.37 492.18
Employees

You will please observe that in all parameters be it business, profitability or productivity the
Banks have performed exceeding well.

* Prior to 1979, Bank Officers salary was batter than that of the Group 'A' officers of
Govt. of India. Class I officers Basic Pay was at Rs. 450/- per month where as Bank
Officers Basic Pay was at Rs. 500/- per month with a difference of Rs.50/- per month-

* On account of Pillai Committee Recommendations during 1979. Bank officers, Basic


Pay was fixed at Rs. 700/- per month at par with class I officers of Govt. of India.

* fourth Pay Commission fixed Rs. 2200/- per month Basic Pay for class I officers where
as for Bank Officers it was at Rs. 2100/- per month.

* Fifth Pay Commission Scales, further widened the gap between Govt. Officers and
Bank officers scales by Rs. 900/- per month. Govt Officers scale was at Rs. 8000/-
per month whereas Bank officers scale was fixed at Rs. 7100/- per month.
;
°
• In 2004. 50% of D.A was merged with Basic Pay for Govt. Officers and Basic Pay 'was
raised to Rs. 12500/- per month. Whereas for Bank Offices w.e.f. 1-11-2002 Basic Pay was
at Rs. 10,000/- per month with a difference of Rs. 2500/. per month. In addition for Govt.
Officer HRA was at 30% of Basic Pay in Metros as compared to 9% paid to Bank
Employees.

• As on 1-1-2006. as per 6th Pay Commission Recommendations, Govt. officers. Basic


Pay is fixed at Rs. 15,600/- with Grade Pay of Rs. 5,400/- totaling Rs. 21,.000/- The HRA
for Govt. Officer was retained at 30% of Basic Pay whereas for Bank officers, it is at
maximum 8.5% of Basic Pay.
;

* With present offer of 17.5% wage increase for Bank Staff, w.e.f.. 1-11-2007. Bank officers
scales would at best be at Rs. 14,000/- per month as against pay scale of class I officers
at Rs. 21,000/- (includes grade pay) thus further widening of the gap by Rs. 7,000/- per
month in Basic Pay between Govt. and Bank officers

* Out of 17.5% wage increase offered by the IBA, Rs. 1,800/- crores will go towards 2nd
option of Pension and incremental cost on Pension and remaining amount is not
sufficient to construct scales of Bank officers above Rs. 14,000/- per month.

* Even in next wage revision for Banks. due from 1-11-2012 the gap between Govt. and
Bank officers may not be wiped out.

* A minimum salary increase of 30% to 40% is ensured to .Public Sector undertakings,


UGC Staff etc. In tune with 6th Pay Commission Recommendations.

* In SBI, Superannuation Scheme will not ensure 50% of last drawn Basic Pay as pension.
Commutation formula is also inferior. Those retired before 31-10-2002, are drawing
Pension, based on' 1992 scales..
* The Gratuity ceiling of Rs. 3.5 lacs is not enhanced for Bank employees w.e.f.
1-1-2006.
* Bank officers have unlimited working hours with accountability sword hanging on the
head even after retirement. As against 5 day working in Govt. Bank staff virtually works
all 7 days with no compensation, undergo greater transferability and accountability.

* Bank officers are expected to match performance with professional in private sector. and
they do, but are paid below municipal employees.

THAT BANK EMPLOYEES ARE IN A HIGH WAGE ISLAND IS THE


GREATEST MYTH
I

Today a General Manager of Bank draws emoluments less than a Section Officer of the
Government of India;

A Probationary Officer of Bank draws less than a Clerk in Government and

A Bank Clerk draws less than a Peon in Government.

Hence, we pray for Pay Scales at par with Group 'A' officers in Government in India and
HRA@ 30%.
I

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