labels: banks & institutions
Government considers pension option for bank employeesnews
Our Banking Bureau
23 November 2002

New Delhi: Inaugurating the silver jubilee celebrations of the United Bank Officers’ Association (UBOA), Indian Minister of State for Finance A Adsul said the government is considering offering pension option to bank employees. Adsul also said issues such as voluntary retirement schemes in banks and other related matters should be examined afresh.

Speaking on the occasion, United Bank of India chairman and managing director M Madhukar said his bank’s performance has improved quite significantly and the bank has attained all the parameters required for being granted functional autonomy relating to matters such as branch expansion and recruitment.

UBOA general secretary Debasish Banerji requested the government to introduce competitive pay scales for the public sector bank staff to enable them to compete successfully with private sector banks. He said by offering higher pay scales, the banks would be able to attract better talent.

 

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Government considers pension option for bank employees