Business Standard / New Delhi Sep 09, 2010, 00:02 IST
This refers to the news report “RBI bats for better pay for govt bank employees” (September 5). The Reserve Bank of India (RBI) governor’s plea for a level playing field for public sector banks with enough freedom to hire executives and employees on competitive terms has to be seen in a wider perspective.
Recently, even RBI had to opt for recruiting short-term executive interns on contract basis (for three years). The government should think in terms of a policy for all public sector organisations encouraging them to evolve a self-regulated mechanism to evolve guidelines for designing remuneration packages for all employee levels. Such guidelines should be based on paying capacity, need for skills/talent and internal and external relativity within industry and across the private and public sectors.
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