As employees of state-owned banks bargain hard for a steep hike in wages, the finance ministry has asked Indian Banks' Association (IBA) to consider moving towards a cost-to-company (CTC) structure in the next pay settlement to reflect their actual remuneration including all perks and incentives. IBA is likely to ask for about 25% hike for over 8,00,000 bank employees in the 10th bipartite agreement on wage revision.
Concessional rates of interest on loans, employer's share in provident fund may become part of CTC
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