11th ICICI Bank Rewarded With 8% Pay Hike for Work Done During COVID-19 - 11th BPS News

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Tuesday, 7 July 2020

ICICI Bank Rewarded With 8% Pay Hike for Work Done During COVID-19

The country's second largest private sector Bank ICICI Bank has decided to reward its employees With 8% Pay Hike for Work Done During COVID-19 

ICICI Bank has confirmed in this regard through their official Twitter handle.

These employees form over 80 per cent of its overall workforce and the decision has been taken in recognition of the services rendered during the Covid-19 pandemic.

The hike of up to 8 per cent is for the fiscal year 2020-21 and applicable from July onwards.


The sources said these employees are from M1 and grades below, who are front line staff mostly in customer-facing roles. They ensure the functioning of branches and other operations of the bank. 
ICICI Bank

It can be noted that the development comes at a time when a slew of organisations have been forced to stall salary hikes or even cut salaries as they seek to get some control over costs. 

Can Public Sector employees expect any such hike ?

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