According to information, the salaries and allowances of the Chief Minister, ministers, and MLAs in Himachal Pradesh have increased by approximately 25 percent. The Governor approved three bills related to the salaries and allowances of dignitaries.

According to the passed bill, the basic pension of former MLAs has been increased from ₹36,000 to ₹50,000. Until now, a former MLA received a pension of ₹93,240, including DA. Now, they will receive ₹1,29,500 per month. On the other hand, the Chief Minister previously received a monthly salary of 2.65 lakh rupees, but this has now been increased to 3.50 lakh rupees. Similarly, the Assembly Speaker was previously paid 2.55 lakh rupees and now 3.45 lakh rupees, a Cabinet Minister was paid 2.55 lakh rupees and now 3.10 lakh rupees, and the Deputy Speaker of the Assembly was previously paid 2.50 lakh rupees and now 3.40 lakh rupees. Similarly, the salaries of MLAs have been increased by 70 thousand rupees per month, and they will now receive 2.80 lakh rupees instead of 2.10 lakh rupees.

It is noteworthy that with this, MLAs will now receive a basic salary of Rs 85,000, up from Rs 55,000 previously. However, the government has abolished three allowances. These include a telephone allowance of Rs 15,000, data operator staff allowance, and electricity and water allowances. The notification states that salaries will increase every five years. It is worth noting that MLAs previously received an office allowance of Rs 90,000, but this has now been increased to Rs 1.20 lakh. Previously, MLAs received Rs 1,800 per assembly meeting, but now they will receive Rs 2,500.

The opposition and the ruling party were united.

During the passage of the bill related to salaries and allowances, the ruling party and the opposition were seen together in the Assembly. Importantly, the state is facing an economic crisis, and people were questioning the salary hike. Previously, in 2016, during the Virbhadra government, the salaries of MLAs were increased. It is noteworthy that two days ago, the Sukhu government announced a 3% DA for employees. It has also ordered the advance payment of salaries to outsourced employees in the state.

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The Reserve Bank of India on Friday increased the limit of remuneration of non-executive directors in private banks from Rs 20 lakh to Rs 30 lakh per year. The Central Bank (RBI) had fixed the remuneration limit for non-executive directors at Rs 20 lakh per annum in April 2021.

“In view of the important role of non-executive directors in the efficient functioning of bank boards of directors and its various committees and to enable banks to adequately attract qualified competent individuals to their boards,” the RBI said in the statement. It has been decided to revise the above limit to Rs 30 lakh per year.”

How will remuneration be decided?

The central bank said banks need to put in place appropriate norms for paying fixed remuneration to their non-executive directors with the approval of their boards of directors before any review of the existing remuneration.

“The board of directors of the bank may decide the amount within the maximum limit of Rs 30 lakh per annum depending on the size of the bank, experience of the non-executive director and other relevant factors,” RBI said.

The instructions to review fixed remuneration paid to Non-Executive Directors will also be applicable to all private sector banks including Small Finance Banks (SFBs) and Payments Banks (PBs) and wholly owned subsidiaries of foreign banks. These orders have come into effect with immediate effect.

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The post Bank Salary Hike : Earlier Rs 20 lakh, now they will get annual salary of Rs 30 lakh, these officers of private bank will get increased remuneration. first appeared on Rightsofemployees.com.