Bank News: DFS instructs to conclude the next wage revision prior to the effective date i.e. 01.11.2017

D.O.No. 4/2/2/15/IR
Girish Chandra Murmu, IAS .
Additional Secretary
Government of IndiaMinistry of Finance
Department of Financial Services
Jeevan Deep Building, 3rd Floor,
10, Parliament Street,
New Delhi-110 001
March 21, 2017.
Dear MD/CEO
Kindly refer to this Department’s letter dated 12.01.2016, 24.08.2016, 21.10.2016 and 21.12.2016 addressed to all Public Sector Banks ( PSBs) whereby PSBs were requested to initiate the steps taken for smooth conclusion of next wage revision of the employee within time frame. However, it is seen that several Banks are yet to proceed in the matter.2. May I request PSBs to kindly look into the matter and to conclude the next wage revision prior to the effective date i.e. 01.11.2017
With regards,
Yours sincerely,
(G.C. Murmu)
The Chief Executives of all Public Sector Banks

Source: Department of Financial Services
[http://financialservices.gov.in/ncapp/Circulars.aspx?ct=B]