An additional hour of work will fetch an employee between Rs 100 and Rs 300 depending on the pay package. The total payout for 4 lakhs staffs could works out in hundred crores.

“We have brought this issue to the notice of the government... In case dues are not paid, we will take stringent action... we could even go on strike like we did earlier... we will also look at taking other legal action, “ CH Venkatachalam, general secretary, All India Banks Employees Association (AIBEA) told media.

No bank, according to the unions, cleared the dues in full. The issue was also brought to the attention of finance minister Arun Jaitley and is likely to be taken up in the next meeting with the labour ministry, they said.

“We are yet to understand why banks are not paying the overtime dues to employees who are eligible for overtime dues… this pulls down the morale of the employees,” Ashwani Rana, another union member said.

“At present, there are other pressing issues such as non-performing assets (NPA) and screening of bank accounts that these banks need to address on an immediate basis..HR issues have always taken a back seat for government banks,” a senior official of a Mumbai based public sector bank said.

While there was expectation that the variable part of the pay package would be increased along with the performance linked incentives, nothing concrete has been announced denting the morale of the employees, insiders said.