India's Finance Ministry pushes PSBs to complete wage talks in 12 months. Public sector banks have been directed to initiate negotiations for the 13th Bipartite Settlement immediately, with a deadline to finalize within one year. The wage revision becomes effective November 1, 2027. This five-yearly cycle is crucial for maintaining industrial harmony in the banking sector. PSBs have demonstrated strong financial performance, with combined profits reaching Rs 1.78 lakh crore in FY25, up from Rs 1.41 lakh crore in FY24. Asset quality metrics remain robust, with gross NPAs at record lows of 2.30 percent. The timely completion of wage settlements is essential to ensure implementation from the due date itself, avoiding previous delays in regulatory amendments.
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