7th Pay Commission has been implemented, but it has not proved as big a windfall as central government employees had expected. While the salary hikes are welcome, inflation is nevertheless eating into the same and ensuring that the employees are not able to maintain their lifestyle or cater fully tio their children's needs. So, they have raised the demand that their salaries be raised by a fitment factor of 3.68 times rather than the current 2.57 times and teh minimum level salaries are raised to Rs 26,000. While initially, there was some talk of going on strike, but that was quickly been abandoned and instead a wait and watch policy was adopted. However, not everyone is as disciplined. Significantly, public sector bank employees belonging to some unions have gone on a nationwide strike as their demands for a big pay hike were being rejected by the authorities. Hundreds of thousands of public sector bank employees have gone on a 2 day strike and this has affected the public in manifold ways. It has also led to as much as Rs 21,000 cr of financial transactions taking a hit. And this is just on day 1! From bank ATMs running dry to salaries of institutions not being delivered into accounts to depositing money in banks not being possible, the public was really put to a lot of discomfort.
The central government employees too had initially sought to push their demands through protests, but after reassurances by the highest of authorities in the government were given, they had backed off from taking extreme positions. Till now they are waiting for good news about their salary hikes being announced. The bank employees on the other hand had received an assurance of their salaries being raised by just 2 percent. This was summarily dismissed by the unions as being inadequate and they promptly went on strike to pressurise the authorities. These public sector bank employees are saying that their work has increased manifold, especially after demonetisation and that the banks are very much in profit and therefore, they should be rewarded for their efforts.
WATCH ZEE BUSINESS VIDEO HEREWith the public put to discomfort, the situation will certainly put pressure on authorities to act. In what manner, remains to be seen. However, no matter how this particular situation plays out, for the central government employees, this strike in demand for higher pay will be yet another reminder that they have been waiting for 7th pay commission pay hike good news for a long time.
