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 sources told PTI.
The country’s second largest private sector lender ICICI Bank has decided to reward over 80,000 of its frontline employees with a salary hike of up to 8 per cent, sources said on Tuesday.
These employees form over 80 percent of its overall workforce and the decision has been taken in recognition of the services rendered during the COVID-19 pandemic, the sources told PTI.
The hike of up to 8 per cent is for the fiscal year 2020-21 and applicable from July onwards, the sources said.
An e-mail sent to the bank did not elicit any response.
The sources said these employees are from M1 and grades below, who are frontline staff mostly in customer-facing roles. They ensure the functioning of branches and other operations of the bank.
It can be noted that the development comes at a time when a slew of organizations have been forced to stall salary hikes or even cut salaries as they seek to get some control over costs.
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- The airline expects a few more months for ‘normalcy’ to return even if govt lifts ban on international flights post 31 July
- On the domestic front, owing to pandemic the airline is currently operating at only about 25-30% of its capacity, says its chief commercial officer
New Delhi: Full service carrier Vistara, a joint venture between Tata Sons and Singapore Airlines, hopes to resume international flight operations by the end of this year, a senior official of the airline said.
The airline plans to resume international flights by the third or fourth quarter of the year, the chief commercial officer at the airline, Vinod Kannan, said on Monday.
“(The) United Kingdom is definitely on our cards as well,” Kannan said adding that the airline is reviewing a decision on adding flights to the country.
International flight operations remain suspended by the Indian government at least till 31 July as the number of covid-19 cases continue to rise. Certain countries are also yet to ease various entry restrictions to allow foreigners even though the Indian government hopes to open flight services in bilateral bubbles with specific countries.
Meanwhile, Kannan said that it may take a few months for ‘normalcy’ to return to air travel as several states continue to impose entry restrictions due to the rising number of covid-19 cases.
Domestic traffic continues to be directional as secondary cities (tier one and two cities) continue to register good demand, Kannan said adding that this has prompted the airline to add flights on routes like Mumbai and Patna.
“Vistara is currently flying about 35 to 40 flights during the weekday, which rises to about 45 to 50 flights per day during the weekend,” he said adding that the airline is operating at about a 25-30% of its capacity, below the 45% capacity threshold set by the government.
“It’s a tough phase for everyone. We are maintaining pricing on certain routes, where we can,” he added.