The Finance Ministry has sought views of the Indian Banks' Association (IBA) on introduction of variable pay in the public sector banks. The Khandelwal committee on human resources had suggested introduction of variable pay in state-run banks as a major component of wages.

Department of Financial Services said in a letter to IBA said that the recommendation of the committee may be considered by IBA and its final views sent to the government before 30th November. The Banking association constitutes a panel of 3 CMDs to examine the recommendations.