The country’s second-largest private bank gave a gift to 80 thousand employees, increased salary by 8%


New Delhi: ICICI Bank, the country’s second-largest private sector bank, has given a big boost to its 80,000 frontline employees working in the Corona era. According to sources, ICICI Bank has decided to increase the salary of its frontline employees by 8 percent. These employees are more than 80 percent of the total workforce of the bank. This decision has been taken in recognition of the services provided during the COVID-19 epidemic.

Salary will increase from July
Sources said the increase in salary by 8 percent is for the financial year 2020-21 and will be applicable from July. There was no response to an e-mail sent to the bank. Sources said that these employees are from M1 and below grade, mostly frontline staff who are in front of customers. They ensure the functioning of branches and other functions of the bank.

The increase in salary has been decided at a time when some organizations have been forced to increase salary or even pay cuts because they want to control some of the costs. The economic impact of the COVID-19 epidemic has resulted in cost reductions, resulting in lockdown in force across the country since late March and disrupting economic activity.

The net profit of the second-largest private sector bank rose 26 per cent to Rs 1,221 crore in the March quarter from Rs 969 crore in the same quarter of the previous fiscal.