THE ARTICLE BY OUR RESPECTED READER (Source YIBA)
Hariharasuthan KS
It is high time that UFBU demand interest on the salary arrears at the staff loan rate in each bank. Then only IBA will also move for a swifter settlement. Now, the loss is only for the employees/officers as we do not get any income from OUR locked up money. And the Banks benefit a lot from its snail's pace of developments in settlement. This is not a fancy.
Think like this : All Banks keep aside provisions for the salary revision as reserves. The fund in the reserves are also used for further investments and that generates revenue to the Bank. On the other hand, we employees/officers are kept away from the arrears until the settlement is signed in a far future date and naturally we have to face the inflation and other plethora of economic problem by our own, due to no fault of ours. As these are extreme opposites and peak of injustice, the only suggestion is to implement the payment of interest on arrears for the delayed period at applicable rates. The deposit rate applicable to staff would be bare minimum as the fund is kept with the Bank only.
Also when we move forward, IBA will definitely push us to observe strike for some days without any loss on their part. Interest on loans will applied, all customers will avail the services when we return after the strike and only we will suffer from the excess work accumulated. what will the IBA get?
Salary of the striking workforce for the strike days. I leave it you to calculate the amount even for a single day.
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