Business News | Bihar Gramin Bank Settles Two Industrial Disputes, over 10,900 Employees to Benefit from Rs 78 Crore Settlements
Get latest articles and stories on Business at LatestLY. Over 10,900 Bihar Gramin Bank employees are set to receive financial benefits worth nearly Rs 78 crore following the resolution of two industrial disputes between the bank's management and employees' organisations, according to a statement by the Ministry of Labour and Employment.
New Delhi [India], October 27 (ANI): Over 10,900 Bihar Gramin Bank employees are set to receive financial benefits worth nearly Rs 78 crore following the resolution of two industrial disputes between the bank's management and employees' organisations, according to a statement by the Ministry of Labour and Employment.
As per the release, the disputes were resolved on October 22 and 23 by the Assistant Labour Commissioner (Central), Patna, under the Ministry of Labour and Employment.
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“The settlements are expected to extend financial benefits amounting to approximately ₹77.69 crore to over 10,900 employees of Bihar Gramin Bank, including recurring annual benefits of approximately ₹9.02 crore under the settlement with the Bihar Gramin Bank Workers Organisation (BGBWO),” the release said.
The first settlement, reached on October 22 between the Bihar Gramin Bank Adhikari Sangh, Patna, and the bank management, is expected to provide financial benefits worth approximately Rs 67.17 crore to around 8,400 employees, according to the release.
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“The settlement addresses key employee demands, including payment of Performance Linked Incentive (PLI), officiating allowances, wage enhancement, enhancement of travel allowances, promotions and compassionate appointments,” the Ministry said in the release.
The second settlement, reached on October 23 between the Bihar Gramin Bank Workers Organisation (BGBWO) and the bank management, is expected to provide financial benefits worth approximately Rs 10.52 crore to around 2,500 employees, including recurring annual benefits of Rs 9.02 crore.
“This settlement addresses key demands relating to the effective implementation of the 12th Bipartite Settlement, enhancement of House Rent Allowance (HRA), increase in transport allowance for Divyang employees, payment of overtime, transparency in promotion processes and the formation of a Negotiating Council,” the Ministry said.
As per the release, both sides actively participated in finding mutually acceptable solutions.
“Both settlements were facilitated through constructive dialogue and the active participation and cooperation of the employees’ organisations and the bank management, helping resolve the disputes amicably and strengthen industrial harmony,” the Ministry said. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)