ICICI Bank to reward 80k employees with up to 8% pay hike for work done during COVID-19

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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.

ICICI Bank and Future Generali Insurance have finalized increments for most of their staff despite the slowdown, media reports said. India’s second-largest private bank is reportedly giving its 80,000 frontline employees – which form nearly 80% of its workforce – an up to 8% hike this year in recognition of their services through the pandemic. Future Generali has announced promotions, salary hikes, and variable payouts, besides deciding against layoffs. Earlier, HDFC Bank rolled out increments for its staff while Axis Bank announced bonuses for sub-management employees. 

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