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ICICI Bank to reward 80,000 employees with up to 8% pay hike for working during COVID-19

Source | www-moneycontrol-com.cdn.ampproject.org | PTI

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 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 percent, sources said on July 7.

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 percent 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.

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