Categories: Business

ICICI Bank announces pay hike up to 8 percent to reward 80000 frontline workers

Photo: FILE

ICICI Bank

new Delhi. ICICI Bank has announced an increase in salaries for its employees, amid growing news of layoffs or pay cuts amid the Corona crisis. According to sources, this increase has been announced if services continue smoothly even during the Corona crisis. About 80 thousand employees will get the benefit of this salary increase, most of whom are directly contacting people and providing services. The bank is going to increase the salary of these employees by 8 percent. The salary hike will be applicable from July.

According to sources, the employees whose salary is being increased are from the grade of M1 or below. Most of the work of these employees is directly related to the customers. This increase has been approved by the bank due to the smooth functioning of the corona crisis in spite of all the risks and crises. ICICI Bank reported a 26 per cent increase in its standalone profit during the March quarter, with the profit reaching a level of Rs 1221 crore.

This post was published on July 7, 2020 8:01 pm

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