 "Illustration by Binay Sinha")
The public sector banks (PSBs) registering marginal losses will also give a performance-linked variable pay to its employees, as per the latest salary structure of employees proposed by the Indian Banks' Association (IBA).
In a first, bank management led by the IBA proposed a performance-based salary increment for all PSB employees - a departure from the past practices of setting a fixed salary hike based on bilateral negotiations. In a meeting held with trade union body United Forum of Bank Unions (UFBU) last Saturday, the IBA proposed a bank-wise salary increase for staff of PSBs based on operating profit and
