 "More steps in the offing for timely fraud detection in banks: RBI")
Apropos Abhijit Lele and Raghu Mohan's report "Split wide open" (July 3), it is a good sign that Indian Banks' Association will have two separate wage agreements with the staff and officers of public sector banks (PSBs). The PSBs are perhaps the only setup in public sector undertakings where the staff and the officers join in wage negotiations and intermittent strikes together, to bring the work of banks to a standstill, thereby forcing managements to agree to their exorbitant demands. Giving the flexibility to individual banks to pay their employees is another plus point. It will promote a pay-for-results culture.
The
