Corona Impact : Bank's employees will not receive bonus and salaries increases

Jul Wed 2020 09:28:52

2078 views

Corona Impact : Bank's employees will not receive bonus and salaries increases

Employees working in the banking sector will not get bonus due to Corona epidemic. At the same time, the salary scale, which has been increasing well in every fiscal year, will not increase in this fiscal year. It is stated that the salary and other facilities of the employees of the banking sector are not in a position to increase. While banks are preparing for staff cuts, most of the banks have resorted to round-the-clock cost cuts after the Nepal Rastra Bank (NRB) banned them from cutting staff directly.

Although the NRB has asked not to remove the employees whose contract period has not expired, the banks have already deducted the contract employees even after paying a few months salary. The Bankers' Association, Development Bankers' Association and Financial Institutions' Association have also discussed the staff facility separately. Banks affiliated to the Bankers' Association have decided not to promote their employees for one year. In addition, there is no condition to increase the salary and bonus distribution will not be done. Recently, the government had blocked the decision to increase the salaries of the employees in the upcoming budget. The salaries of government employees, banking sector and private sector employees were increasing every fiscal year. Banks have decided not to raise salaries and distribute bonuses as the economy is weakening due to the Corona disaster.