IBA and bank unions agreed upon a 15% hike over the base wage bill of Rs 52,625 crore, which was the cumulative wage bill -- of all public sector banks and a few other old private sectors which took part in the bipartite wage revision process -- for the fiscal year ending March 31, 2017 .source https://economictimes.indiatimes.com/industry/banking/finance/banking/iba-forms-groups-to-finalise-wage-negotiation-for-public-sector-bank-employees/articleshow/77537906.cms
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