Kerala - Kochi   

Nod for wage revision in general insurance sector

Staff Reporter

KOCHI: The Finance Ministry has cleared the proposal for wage revision in the four public sector general insurance companies.

General Insurance Officers All-India Association State general secretary P.P. Mohanan said here on Thursday that the unions concerned and the management body GIPSA (General Insurers Public Sector Association) had reached a consensus on wage increase in the discussions held in Hyderabad last July. But its implementation was delayed indefinitely mainly due to disputes on the transfer and mobility policy (TMP) for Class 3 (clerical staff) employees as the unions were demanding that wage revision be independent and unconditional.

Management's terms

Now, as part of implementing the wage revision, the management has curtailed the number of casual leave and stopped the practice of half-day casual leave. The present system of five-day week will continue.

More than 60,000 employees of the four public sector general insurance companies — United India Insurance, New India Assurance, Oriental Insurance and National Insurance — will be getting salary arrears with effect from August 2002. Employees expect an average monthly increase of Rs.2,000 following the wage revision, it is said.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Connecting people through books
Sex scandal: order reserved
Call to form judicial commission
Stop new recruitments, says TELK union
`Non-teaching staff pattern not workable'
Monitoring air pollution in city
Nod for wage revision in general insurance sector
`Interest in learning science subjects waning'
Police to hold interactive meet
Warning to latecomers
Caught in the mobile
House panel's sitting
Destitute woman rescued
Around the City
In Kochi Today

Copyright © 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu