Thursday, May 23, 2019 11:06 PM

Over a million Bank Employees go on strike, five reasons why it is justified

Over one million bank employees are on two day nationwide strike. Five reasons why this strike is perfectly justifiable.

  1. The bank employees are offered a meagre two percent hike in the latest pay revision, while it was 15 percent in the last pay revision. Such a minuscule offer leaves no room for negotiations forcing the bank employees to go on strike.
  2. The wages as proportion of total expenses of the bank declined from 13.72 percent in 2012 to 10.81 percent in 2016. Even if the wage burden on the bank finances is pegged at 2012 level , the pay hike offered should be over 25 percent. 
  3. The business per employee in the banking sector has increased from 18.79 crore in 2012 to 27.30 crore in 2016  indicating a per-capita productivity rise of about 50 percent.
  4. The Gross operating profit (GOP) has increased from around 1.28 lakh crores in 2012-2013 to about 1.59 lakh crores in 2016-2017. 
  5. The banks have incurred net losses of about 12,000 crores in 2016-17. And the same is cited as a reason for denying reasonable pay hike for the employees. But, these net losses are a result of higher provisioning for bad loans. The ordinary bank employees have nothing to do with bad lending decisions that led to higher NPAs .

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