Press Information Bureau

Government of India

Ministry of Finance

30-November-2012 15:33 IST

The pay scales of employees in Public Sector Banks (PSBs) are determined as per the agreement between the management and Associations/Unions every five years. Besides the pay, employees in banks are also entitled to a number of other allowances and benefits. The pay scale of the Central Government employees are finalised by Government taking the recommendations of Central Pay Commission into consideration and these pay scales are reviewed generally after ten years. The terms and conditions of service of Central Government employees and Bank employees are entirely different and are regulated in terms of the respective service conditions. Hence, no comparison can be drawn between pay structure of Central Government employees and of bank employees.

This was stated by the Minister of State for Finance, Shri Namo Narain Meena in a written reply to a question in the Lok Sabha today.

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DSM/RS/ka

 

Pay structure comparability: bank and central government service conditions differ, preventing direct comparison of remuneration frameworks. No direct comparison is possible between Public Sector Bank employee pay scales, set through periodic collective bargaining and inclusive of negotiated allowances, and Central Government pay scales, which are determined by the Government after Central Pay Commission recommendations; the differing terms and conditions of service and entitlement structures render the remuneration frameworks non-comparable.