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Canara Bank Slashes Sub Staff Wages Amid Cost-Cutting Measures
Canara Bank’s Haldwani region reduces sub-staff wages, sparking controversy amid cost-cutting measures. Unions yet to take a stand.
Author: Saurav Kumar
Published: February 7, 2024
In a surprising turn of events, Canara Bank's Haldwani region in Uttarakhand has witnessed the issuance of a directive by the Regional Office (RO) to cut down on expenses by reducing the wages of sub-staff.
The new cost-cutting guidelines include a significant reduction in the daily wages of temporary staff, now set at Rs. 500 per day.
Image: Canara Bank Directive on Cost Cut
The letter specifies, “all branches must curtail the wages or coolie expenses engaged intermittently to maximum Rs. 500 per day and wages should be paid on daily basis.”
The Wrath of Wage Reduction
The reduction in wages has deeply impacted sub-staff members at Canara Bank. An anonymous employee revealed, "I was informed about the deduction on February 2 by the branch manager. It was a shock, as many of us stand to lose nearly six thousand rupees."
Previously, the daily wage for sub-staff stood at Rs. 617, then rose to Rs. 700, before plummeting to Rs. 500.
Expressing his grievance, the sub-staff approached the branch manager, only to find him powerless due to pressure from higher authorities.
Regional Office Contradicts Head Office Rule
This move directly contradicts the bank's Head Office directive from 2023, which stipulated higher daily wages for drivers and sub-staff at Rs. 977 and Rs. 787 respectively.
Despite the clear guidelines from the Head Office, the Haldwani region is enforcing a wage deduction for sub-staff, slashing their earnings from Rs. 787 to Rs. 500 per day. This reduction amounts to a substantial Rs. 6800 monthly decrease in income for affected employees.
Image: Canara Bank Head Office Directive on Wage of Sub Staff
Union representatives have not yet taken a stance on this wage deduction issue within Canara Bank.
Staff Shortage
Amid the wage deduction of sub staff, the issue of staff shortages continue to pose significant challenges for Public Sector Banks, impacting the efficiency of banking operations.