17% wage hike to public sector bank employees to cost ₹12,449 crore: Report

Indian Banks' Association (IBA) and bank employee unions have agreed to 17% wage hike for five years starting from November 1, 2022. The wage hike to as many as 9 lakh employees of all public sector banks will amount to ₹12,449 crore, as per Times of India. The IBA also asked the government to declare all Saturdays as bank holidays.