The wage hike move will result in an additional yearly outgo of around Rs 8,284 crore for public sector banks. As many as 8 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2022.
The AIIEA had submitted a charter demanding 40 per cent wage hike. In the last wage agreement, the hike given was 25 per cent on average.
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