Salary-Pension Hike: There is good news for the employees. An increase in their salary and pension is being predicted. For this, news of accumulation of funds by the country’s largest bank has come to light.
A possible increase in salaries and pensions of employees of the country’s largest bank has impacted the second quarter net profit. The provision is being made assuming a 14% increase in salaries in the second quarter. It is believed that an increase may be seen in the salary and pension of the employees. In such a situation, funds are being saved.
Provision of Rs 8900 crore
According to the report, SBI Chairman Dinesh Khara said in the press conference after the announcement of the second quarter results that the bank can keep money aside for the possible salary revision affected from November 2022. Rs 8900 crore can be provided for this. According to Khara, a special provision had to be made. Due to that the profits have decreased slightly.
In such a situation, it is expected that the pace of growth will continue at 16% to 17% in the next financial year as domestic demand is strong. In such a situation, it will get further boost due to the expenses related to the festival. SBI on Saturday reported 8% rise in net profit to Rs 14330 crore for the July September quarter for the current financial year. Retail credit has grown by 16% while corporate credit has exceeded growth by 7%.
Khara said the bank has unsecured loans worth Rs 3.30 lakh crore. About 86% more is given to secure salaried customers, who are working in secure government jobs and have no cause for concern. Recently the IBA meeting was held. In which implementation of 5 days a week working system was discussed. It is believed that it can be done. Along with this, an increase of 15% can be seen in the salary of the employees. This has also been discussed. Proposals for this can be prepared soon.
