The employees of Bank of Rajasthan (BoR) are in much tension regarding the merger of the bank with ICICI Bank. The employees have started an agitation as a protest to this merger.
The salaries of the employees would still be governed by the industry wage package which has been negotiated by the Indian Banks Association with bank staff unions which is unlike the wages set by the new private sector banks.
Vishwas Utagi, secretary, All India Bank Employees Association says that the major concerns of the employees are protection of pension and service conditions.
It is expected that the employees of BoR would be benefitting in the pay scale as the private sector lenders are known to pay much better than the public sector banks. But they demand high productivity too.
It has been seen that the average productivity of the employees is less than half of those of ICICI Bank. ICICI Bank is known for generating the highest business per employee amongst its private sector counterparts.
G Padmanabhan, the Reserve Bank of India-appointed Managing Director and CEO of BoR said, "We have monthly performance reviews and we told the employees that unless they deliver, it would be difficult for the bank to move forward. That was the clear message given."