State Bank officers against merger, seek 30% pay hike

The All India State Bank Officers Federation has said merger and consolidation of public sector banks would harm the expansion of banking activities in the country and nullify the financial inclusion concept of the Government itself.

The All India State Bank Officers Federation has said merger and consolidation of public sector banks would harm the expansion of banking activities in the country and nullify the financial inclusion concept of the Government itself.

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The federation also pressed for a 30 per cent increase in salaries of bank officers, saying that a 15 per cent increase
that is being offered is not enough.

The officers also want one more pension option and are prepared to contribute up to Rs 1,800 crore of the Rs 6,000-
crore additional fund needed for the purpose, federation general secretary G D Nadaf said at a press conference in Agra on Friday.

TN Goel, President of the Federation, said the earlier salary agreement with the Indian Banks Association had expired
on October 31, 2007, and a new one was due on November 1, 2007.

All the four bank officers' organisations had submitted a common charter of demands to the IBA and the Government on
October 29, 2007, but nothing had been done in the matter of revision so far.

The officers organisations would not agree to anything less than 30 per cent increase in salary, he said.