Co-op bank staff to get a salary hike

Salary and pension faciltiies for employees of the 667 branches of 300 co-operative banks in the State will be increased soon as per the recommendations of the Seventh Pay Commission, said Pay Commission Chairperson H K Patil.

During a training programme organised for the staff of the co-operative banks in the City on Wednesday, Patil, who is also the chairperson of Karnataka State Urban Co-operative Banks’ Federation, said that the commission had recommended revised salary, as per the demands of the co-operative employees.

“For the first time, all the employees of the banks will get pension and a special allowance of Rs 700 for those working in rural areas. The salary will be increased in the range of 17 per cent to 29 per cent and it will help around 10,000 employees in the State.

Recommendations have been forwarded to all the co-operative banks and 95 per cent of them have agreed ,” Patil said.  On July 27, a delegation will meet the Reserve Bank of India governor to urge  him to implement the Malegaon Committee report, he added.