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Fund Shortage Forces India Post Payments Bank Into Tussle With Employees
India Post Payments Bank has reversed pay hikes given under the 11th Bipartite Wage Agreement due to shortage of funds.
12 Feb 2021, 04:42 PM IST
Government-owned India Post Payments Bank Ltd., once seen as a possible game changer for financial inclusion, has run into one trouble after another. First, rapidly changing technology made payments banks less relevant, and now a shortage of funds has led to a tussle between its management and employees.On Jan. 5, the bank’s board, led by new chief executive officer J Venkataramu, decided to stay implementation of the Eleventh Bipart...
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