Banks offer 15% wage hike, 5-day work week

Indian state-run and older private generation banks are in discussions about a proposed 15% wage increase for employees and implementing a five-day work week. The Indian Banks’ Association has suggested the raise, but unions are seeking more significant increases. Some banks, like PNB, have set aside funds for a 15% wage hike. The settlement is expected to be finalized before the upcoming general elections due to the significant constituency of bank employees.