In subsequent few days there can be excellent news for 60,000 PSU Common Insurance coverage workers as after very lengthy wait lastly round 15% wage revision announcement to be made in subsequent few days.
As per data from Finance ministry in any state of affairs PSU Common Insurance coverage workers will get wage revision in 12 months 2021 i.e. it will likely be introduced in subsequent few days
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Schedule of wage revision is as soon as in a 5 years and this has been pending since August 2017 subsequently hundreds of workers been asking for a similar since very lengthy as PSU Banks and LIC has already introduced their respective wage revision.
Just lately, GIPSA Chairman and CMD of New India Assurance Mr. Atul Sahai whereas addressing a bunch of workers mentioned ” wage revision challenge can be resolved very quickly, principally until December however worker ought to be able to wrestle for arrears”
In accordance with President of Nationwide confederation of Common Insurance coverage Officers Affiliation, (CONFED) Vijay Prakash Sharma “15% wage revision ought to be on sample of LIC and workers ought to get arrears additionally.”.
Within the PSU common Insurance coverage sector, there are 4 government-owned firms, the Nationwide Insurance coverage, the New India Assurance, the Oriental Insurance coverage and the United India Insurance coverage.
Solely New India Assurance is listed firm & in good monetary Well being & relaxation 3 Insurance coverage firms are usually not in good monetary well being with decline in Market Share. Finance Minister Nirmala Sitaraman has introduced Privatization of 1 Common PSU insurance coverage firm in 2021 Union Price range.