8th Bipartite Settlement Salient Features
9th Bipartite Settlement Salient Features




SALARY REVISION FOR OFFICERS w.e.f 01.11.2007

The Indian Banks' Association (IBA) signed a Joint Note on 27.04.2010 with the Officers' Associations namely All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers' Congress (INBOC) & National Organisation of Bank Officers (NOBO) on salary revision & other issues concerning service conditions for officers in the Banks'

The salient features of the officers' pay revision w.ef 01.11.2007 is as under

Scales of Pay

Scale - I : 14500 - 600/7 - 18700 - 700/2 - 20100 - 800/7 - 25700

Scale - II : 19400 - 700/1 - 20100 - 800/10 - 28100

Scale - III : 25700 - 800/5 - 29700 - 900/2 - 31500

Scale - IV : 30600 - 900/4 - 34200 - 1000/2 - 36200

Scale - V : 36200 - 1000/2 - 38200 - 1100/2 - 40400

Scale - VI : 42000 - 1200/4 - 46800

Scale - VII : 46800 - 1300/4 - 52000

Stagnation Increments

JMG Scale - I : 4 increments (first 2 for Rs.800/- each & next 2 for Rs.900/- each) for every 3 completed years of service after reaching top of the scale.

JMG Scale - II : 3 increments of Rs.900/- each for every 3 completed years of service after reaching top of the scale.

JMG Scale - III: 4 increments of Rs.900/- each for every 3 completed years of service after reaching top of the scale

Dearness Allowance :
With effect from 01.11.2007, the dearness allowance shall be 0.15% of Pay. (Dearness Allowance shall be payable for every rise or fall of 4 points over 2836 points in the quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100)

House Rent Allowance :

Area Rate as %age of pay (No Minimum/No Maximum)
Major "A" Class Cities & Project Area Centres in Group A 8.5
Other places in Area I & Project Area Centres in Group B 7.5
Other places 6.5


City Compen-satory Allowance :

Area Rate as %age of pay (No Minimum/No Maximum)
Places in Area I & in the State of Goa 4% of Basic Pay, Maximum Rs.540/- p.m.
Places with population of 5 Lakhs & over and State Capitals & Chandigarh, Punducherry & Port Blair 3% of Basic Pay, Maximum Rs.375/- p.m.

Provident Fund :

  1. While the officers who are presently covered under Pension Scheme & those who will join the Pension Scheme in terms of option being made available under Joint Note dated 27.04.2010 shall continue to contribute 10% of the Pay towards Provident Fund, there shall be no matching contribution

  2. Officers who are presently covered under Contributory Provident Fund Scheme who do not opt for Pension Scheme being made available under Joint Note dated 27.04.2010 shall continue under the Contributory Provident Fund Scheme as hitherto.

  3. There shall be no Provident Fund to officers joining the services of Banks on or after 01.04.2010. They shall be covered by a Defined Contributory Pension Scheme.

Pension

The terms of the Bank Employees' Pension Regulations, 1995 shall not apply to the officers who join the services of Bank on or after 01.04.2010. They shall be covered by a Defined Contributory Pension Scheme.

W.e.f. 01.05.2005, the pension of the officers who retired or died while in service during the period 01.04.1998 to 31.10.2002 & 01.11.2002 to 30.04.2005 will be re-fixed on the basis of the definition of pay applicable at the relevant times. No arrears of pension & commuted value of pension will be payable on account of such re-fixing of pension.

Dearness Relief will also be payable at the rates applicable at the relevant times. However, the Dearness Relief as above shall be payable for the half year commencing from the 1st day of February & ending with 31st day of July on the quarterly average of index figures published for the months October, November & December of the previous year and for the half year commencing from 1st day of August & ending with the 31st day of January on the quarterly average of the index figures published for the months of April, May & June of the same year.

Recovery for Rent Free Accomodation/Residence Facility

1.20% of the first stage of the scale of pay.

Recovery for Furniture Facility

0.25% of the first stage of the scale of pay.

Fixed Personal Pay

Increment Component(Rs.)[A] DA as on 01.11.2007 (Rs.)[B] Total F.P.P. payable where Bank's accommodation is provided (Rs.)[C]
80058858
90065965
1000721072
100791179
1200861286
1300941394


Professional Qualification Pay

Those who have passed only CAIIB - Part I / JAIIB Rs.410 p.m. one year after reaching top of the scale
Those who have passed both parts of CAIIBa) Rs.410 p.m. one year after reaching top of the scale
b) Rs.1030 p.m. two years after reaching top of the scale


Note

Deputation Allowance w.e.f 01.05.2010

An officer deputed to serve outside the Bank 7.75% of pay with a maximum of Rs.2,300/- p.m.
An officer deputed to an organization at the same place or to the training establishment of the Bank4% of pay with a maximum of Rs.1,200/- p.m.


Hill & Fuel Allowance w.e.f 01.11.2007

Place Rate
Places with an altitude of 1000 meters & above but less than 1500 metres & Mercara Town2% of pay subject to a maximum of Rs.550/- p.m.
Places with an altitude of 1500 meters & above but less than 3000 metres2.50% of pay subject to a maximum of Rs.680/- p.m.
Places with an altitude of 3000 meters & above5% of pay subject to a maximum of Rs.1,570/- p.m.


Halting Allowance w.e.f. 01.05.2010

Grade / Scales of Officers Major 'A' Class Cities (Rs.) Area I(Rs.) Other Places(Rs.)
Officers in Scale - IV & above1000800700
Officers in Scale - I / II / III800700600

At the 4 metros, namely Delhi, Mumbai, Kolkata & Chennai, Halting Allowance payable per diem will be Rs.1,200/- for officers in Scale - IV & above and Rs.1,000/- for officers in Scale - I / II / III.

Leave Fare Con-cession w.e.f 01.05.2010

An officer in JMG Scale - I is entitled to travel on duty by 1st Class or AC 2-Tier Sleeper by train. He may, however, travel by air (economy class) if so permitted by the Competent Authority having regard to the exigencies of business or public interest.

An officer in MMG Scale - II & III is entitled to travel on duty by 1st Class or AC 2-Tier Sleeper by train. He may, however, travel by air (economy class) if the distance to be travelled is more than 1000 kms. He may, however, travel by air (economy class) even for a shorter distance if so permitted by the Competent Authority having regard to the exigencies of business or public interest.

The mode & class by which an officer may avail of LTC shall as the officer is normally entitled to travel on duty. W.e.f. 01.05.2010, an officer in JMG Scale - I while availing LTC will be entitled to travel by air in the lowest fare economy class in which case the reimbursement will be the actual fare or the fare applicable to AC 1st Class fare by train for the distance travelled whichever is less. The same rules shall apply when an officer in MMG Scale - II & III while availing LTC where the distance is less than 1000 kms.

Definition of Family w.e.f 01.05.2010

For the purpose of medical facilities & for the purpose of LTC, the expression 'family' of an officer shall mean an officer's spouse, wholly dependent unmarried children (including step children & legally adopted children), physically challenged brother / sister with 40% or more disability, as also parents ordinarily residing with & wholly dependent on the officer.

The term wholly dependent child / parent, wholly dependent physically challenged brother / sister shall mean such member of the family having a monthly income not exceeding Rs.3,500/- p.m.

If the income of one of the parents exceeds Rs.3,500/- p.m. or the aggregate income of both the parents exceeds Rs.3,500/- p.m., both the parents shall not be considered as wholly dependent on the officer.

Mid Academic Year Transfer Allowance w.e.f 01.05.2010 Rs.700/- p.m.

Compensation on Transfer

Officers in Scale - IV & above`Rs.12,000/-

Officers in Scale - I, II & III Rs.9,000/-

Maternity w.e.f 01.05.2010

Maternity Leave may also be granted in case of hysterectomy upto a maximum of 45 days

Note : The officers in the service of the Bank as on 27.04.2010 & who exercise their option to join the Pension Scheme will contribute from their arrears on account of wage revision towards their share in the estimated funding gap. The said amount is worked out @2.8 times of the revised pay payable for the month of November 2007.


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