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Wage Revision - Banking Pay Commission?

H.SUBRAMANIAN

“The good old Definition of a Banker as defined by Mark Twain in Banking Law & Practice by P.N.Varshney read at the time of Joining B.Com in 1970 was read as follows: "A banker is a Man who lends you his Umbrella when it is Shining and wants it back when it is raining". Very Cautious Bankers then.

With the changing scenario in the Banking Industry the above definition has become obsolete and redundant. According to me the present day Banker can be defined as: “A BANKER IS A MAN WHO MOVES FROM PLACE TO PLACE, MEETING PEOPLE FACE TO FACE, EXCHANGING VIEWS FREE AND FRANK AND NOT MERELY BY SITTING AT THE DESKS OF THE BANK. This is what is happening today with both Private and Public Sector Banks.

[Alas with even the present wage accord still unsettled and on trivial issued getting postponed, will it attract youngsters?]

After this settlement which it is hoped to be the finale with oldies and the unions should demand setting up of a separate Banking Pay Commission for Bank Employees exclusively. The commission should study the wage accord of public and private sector banks and compare them with Central PSUs and Central Govt pay scales and arrive at a decent wage settlement for PSBs and New and up coming Private Sector Banks so that good talent is attracted and no exodus is at the entry level takes places immediately after joining the banks. The productivity in Public Sector Banks is the highest even seen with deplorable working conditions. PSBs and Banks can attract young blood and talent only with decent pay and perks.

Well it is hoped that at least on 15.03.2010 a workable settlement is arrived at for Bankers relieving them of all frustration all these 100 days. After this settlement, all the unions should get rid of all their good old oldies and infuse some young blood as their leaders. The political color to the unions should be totally out. The negotiating Table should say a Very Big Good-Bye to the obstinate IBA Bapus and uncompromising officials who are unfit for sitting at negotiation tables.

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