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Transcript of All India IDBI Officers' Associationaiidbioa.net/onewebmedia/Charter of Demands 10-May-2016.pdf ·...
1
All India IDBI Officers' Association 1st Floor, IDBI Tower, Cuffe Parade, Mumbai-400 005
(Registration No.ALC-KARYASAN-17-10311) Website: www.aiidbioa.com
Date: May 10, 2016
To
The Executive Director,
Human Resources Department,
IDBI Bank Limited,
IDBI Tower, Cuffe Parade,
Mumbai.
Respected Sir,
Sub:- Submission of fresh Charter of Demands for salary revision of officers from
November 1, 2012
Please refer to your letter on the captioned subject.
In light of the wage settlement done by IBA, we are submitting our fresh charter of
demands in continuation of our charter of demands submitted to Bank earlier in the year
2013.
Please acknowledge the receipt.
We request you to call us for finalization of the same at the earliest.
Thanking you,
Yours faithfully,
(VITHAL KOTESWARA RAO A.V.)
GENERAL SECRETARY
2
Revision of Wages and other Allied Matters
for the period from
November 1, 2012 to October 31, 2017
PART-I
ENHANCING SENSE OF BELONGINGNESS AMONGST THE BANK
OFFICERS & IMPROVEMENT IN CUSTOMER SERVICE
Post Nationalization, Banking in India has been regulated by the Government of India with
special emphasis on Social upliftment as guiding principle. Even today, though operations
of Public Sector Banks have been commercialized, the Government calls on the Public
Sector Banks to further its Social Commitments and for conducting all activities that earlier
the Govt. Treasury used to perform.
Years before several banks were Nationalized in 1969, IDBI had commenced operations
under the ownership of Reserve Bank of India. The ownership was later transferred to
Govt. of India. IDBI conducted its affairs as a Specialized Financial Institution, chairing
member of Inter Institutional Groups, as advisor to Govt. on Industrialization, Capital
Markets, Technology transmission (through Technical Consultancy Organizations),
Institutional Development (State Finance Corporations & State Industrial Development
Corporations, State Industrial Investment & Infrastructure Development Corpn. etc.).
IDBI had also taken the responsibility of entrepreneurial skill development and funded
Roads, Ports, Airports, Telecom, Waterways, Industrial Estates Development.
IDBI took initiative of funding, Information Technology funding & Telecom Industry,
while no other Bank was ready to fund them as these did not have assets to offer as security
and their borrowings were against intangibles like Software, Royalty etc. and working
capital funding was against Software Costs, Fee and employee remuneration. So much so
3
that when the Bollywood was reeling under the pressure of underworld, IDBI was
mandated to fund Films.
IDBI served well in creation of greater opportunity for employment among the citizens of
the country by promoting Industrialization and reaching the poorest (through Composite
Loans, SSI & SRTO funding) by targeted lending through the Banking structure by
providing Refinance and Bills Rediscounting facilities. IDBI is a unique organization that
has been creating the priority segment time and again and hiving it off as Institutions (Exim
Bank, SIDBI, and Infrastructure) at the instance of the Govt. of India and still surviving all
odds imposed on it. The State and Central Govt. guaranteed Loans were forced to be
settled by IDBI at a portion of the Principal by write off of multiples of the amount due to
IDBI by way of Interest and Penalty. No Banking organization anywhere in the World
could have survived such an onslaught.
To counter the high handedness of BSE, whose brokers were not ready to even simply get
registered with the Govt., and went on strike for over a month paralyzing the Indian Capital
Market, IDBI took the initiative of creating a world class competitor for it, the National
Stock Exchange (NSE).
The SASF funds were a pittance against the waivers and write off forced on IDBI by
Industrial Houses whose promoters had strong political clout in the License Raj. People
like Harshad Mehta and Ketan Parikh could not have flourished without support of the
ruling Govt. Incidentally Mr. Mehta was allowed to portray as Advisor to the Govt. of India
on Capital Market Reforms.
Immense loss was caused to IDBI by the rigging of the Capital Markets by those named
above. Several projects of the new generation entrepreneurs, many of whom had shifted
from abroad, and who had availed loans from IDBI (the only Venture Capitalist in the
country) failed because they could not raise committed capital from the Stock Market.
Incidentally, IDBI has been the most benevolent Venture Capitalist in the World, as it used
to provide seed capital or equity support to Technician Entrepreneurs with agreement to
4
buy back the shares from IDBI by paying extra interest not exceeding single digit while
the Inflation was in double digits.
To conclude, in spite of the externalities remaining challenging and the undesirab le
interferences of those in power, IDBI successfully managed its affairs contributing to the
Nation Building with its small number of the IDBI Officers (less than 800) managing lakhs
of crore of Rupees of portfolio professionally apart from contributing to the Institutiona l
development. Today this small lot is being forced to drop its reasonable expectation of
compensation & Superannuation benefits being protected in line with RBI & Pay
Commission. Incidentally, IDBI Salaries used to be in line with that of IAS, 4 increments
above IBA starting, 2 increments above SBI starting and the structure matched with RBI.
All those who joined the Glorious Institution, going through Pan India Competitive tests
and the ones who were given their ward ship as Guardians to several of the Banks /
institutions merged into IDBI by the Govt., are also today being tested against their Trust
in the IDBI and its Charter.
Apart from incessant payment record of dividend payments from year 1965 onwards that
the Govt. enjoyed, the few hundred of committed officers had been the cause for generating
at one time profits of over Rs. 1500 crore a year in mid 1990s. IDBI let the Govt. have
cash against portion of its holdings sold to public at over Rs. 120 /= per share through the
biggest Public Issue of shares till that date. IDBI's Flexibonds remained flavour of the day
and helped create the goodwill that the Bank is enjoying in every nook and corner of the
country.
When the Repeal of IDBI Act was proposed, the Staff was made to believe by the Govt
that it was for greater Managerial Flexibility and enabling faster decision making without
need to go to the Parliament often. It was also informed that Staff interests will not be
allowed to suffer. When taking up of Commercial Banking activities was proposed it was
assured that this will improve scope for augmenting low cost funds from Indian public.
IDBI Bank Ltd. had been floated joining hands with SIDBI and other Investors from Public
Sector and Public Issue. The Commercial Banking arm services were comparable to any
Pvt. Sector Bank as far as Liabilities side was concerned. On the Assets side, IDBI shared
5
its own established clientele with the Bank, even by mandating transaction banking with
the Banking outfit. The majority holding of IDBI Bank was always with Govt. owned
Institutions and it gave run for money to Private Banks of its size.
The Bank could not grow at a pace comparable to peers, again because of the paucity of
Capital and delays in decision making that had to do much with the Govt. IDBI Bank was
merged back with IDBI after due process of consultation including COPU. Employee from
IDBI Bank, who were paid on Cost to Company basis were fitted in structured
compensation package.
United Western Bank, another Capital starved Bank was also merged with IDBI as a bail
out at the initiative of Reserve Bank of India and the Govt. under pressure from
Maharashtra Govt.
Today the trust placed by the employees on the Top Management and the Govt. is being
defied. The continuity of Service conditions and Compensation structures offered
originally at the time of joining and the conventions followed, having been aligned to RBI
of IBA among the constituents, are being contemplated to be adversely modified, as if it is
the ground level employees who are to blame for the current state of the Bank. The cause
for high NPA is not the staff but high exposure to the Infrastructure and Large Industries
and this has happened because of the targeted lending mandated by the Govt. The
slowdown is because of the policy paralysis and delays in regulatory clearance for
acquisition of land, large scale corruption in Mining Sector caused by those in Power in
past. The position still, is not much different from other Public Sector Banks.
The greatest strength of IDBI is its Character and its lean staff strength. The large scale
loans portfolio has caused it to show relatively high business and profitability per
employee. The performance appears to be discouraging because of provisioning norms
implemented by RBI that could be acceptable to Commercial Banks with predomina nt
retail portfolio, but are inappropriate for IDBI that has been serving its mandate faithful ly
and with highest sense of responsibility. In IDBI we believe that there is still much scope
for institutional development, refinancing, channelizing of resources from IDB, IBRD, and
6
ADB. Taking up activities of Project Monitoring on behalf of foreign lenders, the Govt.
(eg. Railways, Ports, Road, Water way connectivity, Smart City & Social Infrastruc ture
development) on fee basis, by becoming a nodal agency for multiple lenders and a
monitoring body to ensure end use, timely completion of projects by becoming part of the
implementing mechanism.
IDBI can wear the cap of Venture Capitalist for those in troubled waters. It can be the
Nodal institution for multiple Banks with exposure in corporates having difficult time
currently because of slow down in global economy. It can manage the Equity support
committed by the Govt. for Infrastructure projects.
As the Anthem of the Bank rightly puts it, we have travelled long way together with our
stake holders more as a friend than a Shylock. And this is why those who know IDBI have
been ready to chip in 100 basis point of more in comparison to other Banks.
If people are looking at IDBI Bank even today, it is because of this legacy that origina tes
from its Character and the expertise cultivated through its world class training institute.
The capabilities have remained dormant because of Policy Paralysis, Mismanagement and
the interference in Institutions Management perpetrated by erstwhile Governments. But it
appears the times have turned in favour of the Bank with internal Transformation now
chalked out by the Top Management.
With the younger generation occupying several sensitive desks in the Bank, drastic changes
are being effected in the working. During the transition, enormous pressure is applied on
the existing workforce of the bank. New directives are issued, interpreted and stretched in
a way that their execution, at times, could leads to unpreparedness amongst the workforce.
The whole atmosphere, therefore, has a telling effect on the human resources in the bank.
We therefore suggest the following:
Every employee must be treated with dignity and honor. And Service Conditions
and Protections by way of Reservations, Superannuation Benefits, Salary and
Wages assured as per the appointment terms, conventions and with Industry
linkages.
7
In the absence of substantial grounds, no employee should be served with show
cause notice/charge-sheet or suspended/dismissed as their reactions are based on
conflicting stand points with Management conveying things different from the
Govt.
Innocent officers may not be victimized under the pleas of ‘negligence’ for carrying
out their duties, as the changes in the systems and procedures are occurring too fast.
Unwarranted and unjustified use of Staff Regulation 26(1) to terminate the services
of officers even in the absence of serious charges, the said regulation needs to be
reviewed.
Sincere and flawless services to be appreciated by the Bank by suitably rewarding
the employee on completion of 25 years of service or more with the Bank.
Officers known for their biased approach should not be entrusted with the task of
formulating/executing Administrative Policies.
The guidelines prescribed by Central Office for improving the level of motivat ion
of officers working in operational departments need to be enforced rather than
leaving it to local authorities.
Employees of the Bank be taken into confidence and communication improved and
contradictions avoided so as to enhance sense of belonging to the Bank. This is
pre-requisite to improve customer service/satisfaction.
Ground level officers need to be invited for interaction whenever, the Hon’ble MD
& CEO visits Regional/Zonal Offices. The Ground level officers have a lot to share
about the Bank with the Hon’ble MD & CEO by virtue of their experience in Bank.
Grievances’ Redressal Mechanism to be revamped covering Compensation,
Performance Evaluation, Promotion, Posting & Transfer, Placements, Disciplinary
Actions to be more transparent, and involve an independent Director of the Board and
an Officer Employee Director.
8
For providing efficient service to the customer, grow business, sufficient trained staff
with a minimum number of four need to be provided at the Branch level. For this
suitable officers and staff interested to take up the challenging roles and delivering the
results should be identified and placed accordingly, which in the long run will take the
Bank forward.
While Bank is to identify such suitable Officers, the Association should be taken into
confidence and a joint exercise to be undertaken taking in to consideration various
aspects for placement.
Bank to expeditiously strengthen staff at the base level where the day-to-day
interactions with the common people take place and are the ultimate face of the Bank
to the common people. For the Bank to carry out its day-to-day operations efficient ly
and to take up new tasks and challenges, the Bank should not delay in recruitment at
the base level including Clerical and Award staff. Manpower planning should be done
rationally to ensure minimum four staff members per branch. Staff should be deployed
in right earnest to take up the various functions and supervision finally leading to
increase in value for the stakeholders.
Recruitment to be on regular basis so that the best practices could be brought in and
implemented. It is also necessary to prepare ourselves for the large scale retirements
due in next 3 to 5 years, especially on the Corporate Lending side.
Though the concept of ‘Slim & Trim’ has been preserved in IDBI Bank it cannot be
stretched beyond an extent. Several Branches are gravely understaffed and
inappropriately staffed. Unless the issue is addressed expeditiously, the risk of loss to
the Bank by way of omission, oversight and frauds will remain high. It is against the
expectations of the clients and the stakeholders and only Top Management & Govt.
have the say in the matter.
Inspection, audit and surveillance activities need to be expanded in view of new
challenges and the recent revelations of frauds.
9
While we place the above on record, through the next Section (Part II of this submiss ion
covering Employee Compensation) we seek rationalization of the salary structure with the
Industry. Incidentally the previous unilaterally implemented wage structure had challenges
of harmonization to be brought about among three different streams (one following RBI
pattern, the other IBA and the third the Cost to Company concept) and there were timelines
to be strictly adhered to. The team did the best it could, anticipating the pattern of the IBA
& RBI. However, the real settlements in these organizations were far better than that was
expected. As a result, IDBI Bank compensation structure has become least attractive.
Through this Charter, it is sought to be improved to accommodate varied interests to
mitigate the sense of having been exploited prevailing among its officials, and at the same
time, not to vitiate the expanded span in the Scale of Pay within each grade. Such expanded
scales within Grades provide scope for increments year after year and keep the motivat ion
high as hardly one out of 5 on an average might get regular promotion and the 4 get
demotivated every time the Promotion exercise is taken up. The expanded scales at least
provide some monetary relief. It is more helpful since large scale recruitments have
happened in the initial grades and not all can move up simultaneously and all the time.
We understand that the Govt. of India has already instructed the PSBs to prepare the
Charter for the period November 1, 2017 to October 31, 2022. It is gathered that the Govt
proposes to approve these well in time to give the desired increase on the due date. Bank
Associations have already started drafting the next period Charter to reduce the gap
between the compensation package prevailing in Banks and the Govt. Officials under the
7th Pay Commission. Incidentally, the IDBI Bank Officers compensation package had
linkage to IAS with the Chief of institution drawing Dy. Secretary's Salary. The structure
was in line with RBI & NABARD. Banking Sector is again going to play as important role
in Indian Economy with the New Govt. using it as its effective tool to manage Social
upliftment and to reach the last person through financial inclusion.
In view of the same, an attempt has been made to align the Basic Pay and Dearness
Allowance under the proposed compensation package with the best Public Sector entities
in the Indian Banking & Financial Service industry.
10
The Association, while assuring full co-operation to the initiative of business development,
requests for approval of the compensation package attached that has been drawn keeping
in view the background of different streams of employees that have come together to serve
the Bank. An attempt has been made to align the compensation package with other PSBs
paving way for consolidation without losing sight of the well deserved protection of the
superannuation benefits that our Veterans have already earned and is well deserve. This
minority group, hardly few hundreds, is the force that is keeping the organization alive and
together and but for them we all would not have come together to serve this glorious
organization. In return, we commit to protect their interests while thanking them for
keeping IDBI Bank alive despite best efforts of the few self centered power lobbies to
plunder it.
To ensure that the Superannuation benefits are serviced as already earned with assured
increase in line with the Industry, the PF & Pension Trusts managing the funds of Officers
is supplemented adequately and with buffers, because the next Settlement in the State
owned Banking Industry is going to narrow down the gaps created so far between the
Industry and the Govt. Sector, with the role of banking expanding in India.
In addition to the Rationalization of wages in line with the Industry, while protecting the
comparative eligibilities synchronized with contemporaries both at current pay and as
regards Superannuation benefits of the Veterans and lateral movers from IBA linked scales,
as submitted herewith, it is requested that the Bank gives an assurance to keep this linkage
through the next settlement in the Banking Industry due in November 2017.
For the Serving officials, the Industry compensation structure need to continue to be the
benchmark and fixed components of wage package. Those who have hardly 3 to 5 years
to retire, Superannuation benefits in line with the Nov. 2017 settlement of Banking to be
the benchmark (IBA or RBI as the case may be) and Pensions revised in line with practice
in Govt. Sector, as proposed by the PSBs & RBI. For this purpose, sufficient funds need
to be transferred to the respective Superannuation Trusts upfront.
11
Assurances by way of Employee representation in the Board and holding of Golden Share
by the Govt. could be considered as additional comforts to give confidence to the Officers.
Our Association reserves the right to increase the present demands and add fresh demands
during the process of finalization of charter of demands.
For and on behalf of All India IDBI Officers’ Association
Signature Signature
President General Secretary
12
Part II
The wage revision proposals need to be viewed in the backdrop of: (i) Over 12%
negative differential arising in the Dearness Allowance because of neutralization for
inflation having been pegged at 0.14% per slab by IDBI Bank against 0.15% per slab (i.e.
over 8% less for every 4 index points) in the Industry and the (ii) Vehicle Allowance
entitlements being worked out at Rs. 73.50 at the time of Harmonization, but now being
paid at about Rs. 60/= (22.5% negative).
The consequent erosion in compensation has been greater at the higher level than at
lower and this need to be corrected and the emoluments brought in line with the Industry
peers, so as to protect different entities that merged to strengthen the organization.
It also needs to be kept in view that more and more Social Responsibilities are being
assigned to the Public Sector Banks and Consolidation move is on. In this context the
November 1, 2017 wage revision is going to be game changer with alignment of
compensation structures with the 7th Pay Commission Proposals and greater stress on long
term savings for Superannuation Benefits through equity linked NPS while improving the
Old Pension Scheme and augmenting the resources of respective Trusts that are currently
managing these funds.
1. Scale of Pay ( effective from 1/11/2012)
The Revised Pay Scales have been worked out by merging Dearness Allowance, aligning
the scales with IBA and ensuring protection of Superannuation Benefits already earned by
officials these being dependent on the Pay & Dearness Allowance etc., while maintaining
the existing Span (number of increments), to the extent possible in respective Grades so
as to avoid anomalies.
13
Grade Scale of Pay
Existing Scale Proposed revised scale
A 14400-1000(19)-33400-1250(6)-
40900 (26 years)
28150-1550(4)-34350- 1750(11)-53600-
2000(10) -73600 (26 years)
B 19000-1000(17)-3600-1250(6)-43500(24 years)
35150-1750(11)-54400-2000(12) -
78400 (24 years)
C 25700-1000(1)-26700-1100(12)-
39900-1250(6)-47400(20 years)
49000-1750(3)-54250-1900(2)-58050-
2000(6)-70050-2150(8)-87250 (20
years)
D 33600-1100(9)-43500-1300(8)-53900(18 years)
68500-2150(2)-72800- 2250(15)-
106550 (18 years)
E 36200-1200(11)-49400-1500(6)-
58400 (18 years)
72800-2250(1)-75050-2400(2)-79850-
2500(3)-87350- 3000 (11)-120350
(18 years)
F 45000-1500(7)-55500-1700(5)-64000
(13 years)
101900-3000(4)-113900- 3500(8)-
141900 (13 years)
ED 57500-1800(4)-64700 (5 years) 131900-3500(4) -145900 (5 years)
2. Fitment:
Fitment shall be stage-to-stage, i.e., on corresponding stages from 1st stage onwards and the
increments shall fall on the anniversary date as usual.
The Officers who were in the service of the Bank on November 1, 2012 will be fitted in the
next available level in the Revised Scale of Pay by first adding the Basic Pay + DA drawn as
on that date and then adding One Fitment Increment in the new Scale.
After the fitment exercise other components of pay such as Special Pay, Personal Pay, JAIIB,
CAIIB Increments etc. as explained below shall then be granted as per eligibility.
JAIIB and CAIIB increments to be protected on promotion while doing fitment.
3. Dearness Allowance:
The rate of Dearness Allowance shall be at 0.10% of pay for every slab of 4 points rise or
fall over 4440 points in Quarterly average of All India Working Class Consumer Price
Index (Base 1960= 100). The DA shall also be payable on the Grade Pay as indicated at
14
appropriate paragraph below. The rough calculation of DA for respective quarters is given
below for ready reference:
S. No. Month and Year D.A. Rate in %
01. November 2012 – January 2013 10.92
02. February 2013 – April 2013 13.40
03. May 2013 – July 2013 16.06
04. August 2013 – October 2013 19.30
05. November 2013 – January 2014 24.05
06. February 2014 – April 2014 26.53
07. May 2014 – July 2014 24.81
08. August 2014 – October 2014 28.24
09. November 2014 – January 2015 33.18
10. February 2015 – April 2015 33.37
11. May 2015 – July 2015 33.75
12. August 2015 – October 2015 36.40
13. November 2015 – January 2016 39.83
14. February 2016 – April 2016 42.68
4. Grade Pay & Grade Allowance
In lieu of the Grade Allowance currently drawn by officers of the Bank, Grade Pay
(qualifying for DA also and ranking for calculation of superannuation benefits) and Grade
Allowance (not qualifying for DA) shall be payable with effect from November 1, 2012 on
monthly basis as under:
5.01Grade Allowance : Grade Allowance (not qualifying for DA) as under shall be payable
to Officers as per details below:
Sr.
No.
Grade Grade Allowance
(Rs.)
1 A 6,000 per month
2 B 6,800 per month
15
3 C 8,300 per month
4 D 11,000 per month
5 E 16,250 per month
6 F 17,500 per month
7 ED 19,000 per month
5.02 Grade Pay: Grade Pay (qualifying for DA also and ranking for calculation of
superannuation benefits) shall be payable per month to Officers as per details below:
Sr.
No.
Grade Grade Allowance
Rs. Per month
1 A 6500
2 B 7250
3 C 9500
4 D 12000
5 E 17000
6 F 19000
7 ED 21000
The Grade Pay shall be eligible for Dearness Allowance and ranking for calculation of
superannuation benefits
6 Special Pay:
An amount equivalent to the last Increment on the Scale of Pay will be paid as “Special Pay”
on completion of one year after reaching the Maximum of the respective Scale. Out of the
Special Pay @ Last increment, amounts subject to the following limits will rank for as “Pay”
for all purposes (e.g. Dearness Allowance & Superannuation Benefits etc.) and will be taken
into account for fixation of Pay on promotion:
Grade Amount Rs.
1 A & B 2000
2 C 2150
3 D 2250
4 E 3000
7 House Rent Allowance:
House Rent Allowance (HRA) shall be payable at different rates (as percentage of the Basic
Pay) across grades, depending on the Centre of posting of the officer. The details of the
16
HRA payable are given at Annexure II and III. Officers who have been provided residentia l
accommodation by the Bank [Bank owned flat on exclusive basis or lease accommodation]
shall not be paid House Rent Allowance. License Fee @0.75% per of the Minimum Basic
Pay shall be deducted per month towards Leased Flat or Bank Quarter. Bank shall mainta in
the Leased Flat Rent entitlement in line with that prevailing in State Bank of India from
time to time. Lease rentals to be non taxable for employees and are to be revised after
every 3 years.
HRA at the rate eligible for the Centre of posting shall be payable as part of the Pay and
Allowances in case of Encashment of Ordinary Leave, irrespective of the Allotment of
Flat, Bank Quarter or the Officer residing in own flat.
8 Local Allowance :
Local Allowance will be paid @ 5% of Pay (rounded off to the next higher Rupee), subject to
the maximum of Rs. 2050/- per month for Officers in Grade A to C. For Officers in Grades
D & E Local Allowance will be paid @ 5% of pay (rounded off to the next higher Rupee),
without any ceiling. Local Allowance will not be payable to Officers in Grade F and above.
9 Family Allowance :
Family Allowance will be paid @ 4% of Pay (rounded off to the next higher Rupee), subject
to the maximum of Rs. 1750/- per month for Officers in Grade A to C. For Officer in
Grade D & E, Family Allowance will be paid @ 4% of pay (rounded off to the next higher
Rupee), without any ceiling. Family Allowance will not be payable to Officers in Grade F
and above.
10 Fixed Personal Allowance (FPA) :
The amount of Fixed Personal Allowance already drawn by eligible Officers Stagnating at the
Maximum of Pay shall stand revised as under:
17
Grade Amount of FPA
(Per Month)
Amount ranking for
Superannuation Benefits
A 2220 2000
B 2220 2000
C 2400 2150
D 2500 2250
E 3300 3000
F 3300 3000
(a) Entire amount of FPA will count for DA and Superannuation. FPA is admissible to
eligible officers one year after reaching the Maximum of revised Maximum Pay Scale.
(b) JAIIB & CAIIB Allowance, if any, will be payable after drawal of FPA, as hitherto.
(c) FPA once drawn will continue on non-adjustable basis even on promotion from one
Grade to another. The quantum of Fixed Personal Allowance will stand revised to that
applicable for the next higher Grade on completion of one year after reaching the
Maximum of Pay Scale of that Grade.
(d) FPA is not admissible to Officers joining the Bank after November 1993
With effect from April 1, 2016, the Fixed Personal Allowance and Personal Allowance
will be put together and renamed as “Personal Fixed Allowance”.
The Personal Fixed Allowance” will be payable to all Officers. The “Personal Fixed
Allowance” (PFA) will be granted on completion of one year after reaching the Maximum
of the Revised Scale of Pay, as hitherto.
Important: The Personal Fixed Allowance, now granted, will be eligible for
Superannuation Benefits.
11 Personal Allowance (PA):
18
Officers who were in service of the Bank prior to November 1995 are eligible to draw
Personal Allowance @Rs.550/- p.m. Entire PA will count for DA and Superannuation.
The amount drawn shall continue to be paid to those who are already drawing this amount
at same rate. Officers who joined the Bank prior to November 1995 shall continue to be
eligible for payment of Personal Allowance @ Rs. 550/= per month one year after reaching
the Maximum of respective Scale of Pay.
Officers who joined the Bank after November 21, 1995 are not eligible for Personal
Allowance.
12. Special Allowance on Promotion (SAP):
Special Allowance on Promotion, already drawn shall continue un-changed as per the
existing rates as under:
Grade Amount
A/B/C/D Rs.1000/-p.m.
E/F Rs.2500/- p.m.
Entire amount of SAP will continue to rank for DA and Superannuation Benefits.
13. Special Allowance for Private Secretaries
The Special Allowance being paid to Private Secretaries would continue un-changed to be
extended to all private secretaries at the rates indicated below, not counting for DA or
Superannuation Benefits:
Grade Amount
Private Secretaries in Gr.B Rs.500/-p.m.
Private Secretaries in Gr. A Rs.400/- p.m.
12 Non-adjustable Special Allowance for acquiring PhD qualifications
19
The special allowance payable to officers acquiring PhD qualification post joining the
Bank would continue as hitherto ( Rs.1200/- p.m.), subject to the terms and conditions
governing the payment of the Special Allowance as modified from time to time.
13 Special non-adjustable Allowance
The non-adjustable Allowance payable to all officers in Gr. A who have completed 8 years
of service shall continue to be paid as hitherto to eligible officers as per the original terms
and conditions governing grant of this Allowance.
14 Hill and fuel Allowance (HFA):
Hill and Fuel Allowance payable to all officers, subject to their posting at Centres coming
with the following altitude range, subject to the Hill and Fuel Allowance being higher than
Special Area Allowance. The limits of HFA are as under:
(a) Places with an
altitude of 1000 meters and above but less than 1500
meters and Mercara Town
2
2% of Pay subject to maximum of Rs.750/- p.m.
(b) Places with an altitude of 1500 meters and above but less than 3000
meters
2.5% of Pay subject to a maximum of Rs.1000/- p.m.
Places with an altitude of 3000 meters and above.
5% of pay subject to maximum of Rs.2000/- p.m.
15 Special Area Allowance (SAA):
(i) Special Area Allowance will be payable to the officers posted to areas as specified
at Annexure IV ( Please refer the Annexure V of the 7th Joint Note for officers
signed between IBA and UFBUs constituent units)
(ii) The officer shall draw either HFA or SAA
16 Reimbursement of telephone charges:
20
Reimbursement of Telephone, Mobile with Data Connections and Independent Data
Connection Charges etc. to the officers, as applicable will continue. The reimbursement
limits are furnished below.
Grade Amount
A Rs.1000/- p.m.
B Rs.1500/- p.m.
C Rs.2000/- p.m.
D Rs. 3000/- p.m.
E Rs.6000/-p.m.
F Rs.8000/- p.m.
ED On Actuals
MOBILE PHONE
Mobile Phone shall be provided to all officers and replaced every 2 years as
per the cost limits decided from time to time.
17 Deputation Allowance:
The rate of Deputation Allowance shall be at 7.75% of Basic Pay (Subject to maximum
ceiling of Rs.3500/- p.m. instead of Rs.3000/- p.m. as at present). The revised deputation
allowance shall be payable from 1/11/2012. Deputation Allowance shall be applicable in
case the officer has been deputed to an organization external to the Bank or subsidiar ies,
associate institutions. The Deputation Allowance will also be paid to the officers posted to
special purpose cells such as SASF and CDR Cell.
18 Conveyance Allowance:
Conveyance Allowance was made payable to the officers based on the eligible petrol limits
(with the Petrol cost assumed at Rs. 73.50 per litre) as part of Salary Slip. The eligibi lity
varies Grade-wise, across three Categories of Centres. The allowance is paid, irrespective
of whether an Officer owns a vehicle or not. This forms part of the Gross Pay and shall be
taxable on the basis of average tax applicable to an employee, subject to an exemption to
the extent of Rs.800/- p.m. towards payment of the entitled allowance. The taxable portion,
net of exempted amount of the allowance, shall be paid as Special Perquisite Allowance to
mitigate tax implications. The eligibilities have been revised upwards by grossing up for
21
the fall in the price of petrol (by multiplying by factor 73.5/60). Details of Revised amounts
of Conveyance Allowance with effect from November 1, 2012 are furnished at Annexure
IV.
19 Reimbursement for insurance of owned vehicles:
The entire premium paid by the Officer towards insurance of Owned vehicle will be
reimbursed by the Bank.
20 Encashment of Ordinary Leave:
i) Consequent upon revision of the Scale of Pay and Allowance with effect from
November 1, 2012 Ordinary Leave Encashment in the course of service or at the
time of retirement will be payable as per the Revised Scale & Allowances. For this
purpose House Rent Allowance to be reckoned at the highest applicable Rate
applicable for the Grade (irrespective of the station of posting), in addition to all
other Pay slip components.
21 Other Allowances
All other allowances presently drawn by the officer shall continue to be payable as part of
Gross pay.
22 Leave fare concession:
The reimbursement of Leave Fare Concession (LFC) shall be claimed in any one of
following manners (i) Declaration basis after deduction of tax (ii) through submission of
travel bills, which will, subject to applicable tax rules, qualify for tax exemption. The LFC
shall be claimed on yearly basis. However, the same can be carried forwarded for a block
of 4 years. Limits of LFC payable across each Grade are furnished at Annexure V. The
Block Period for all officers shall be April-March every year. Difference of amount paid
to Officers who availed Leave Fare Concession on Declaration Basis will be paid to
officers as per limits coming into force from November 1, 2012. Bills submitted under
Reimbursement Scheme shall not be reopened.
23 Reimbursement of Medical Expenses for Outdoor Private Treatment
22
Reimbursement of medical Expenses for outdoor private treatment shall be payable to all
officers of the Bank with effect from April 1, 2016:
I. Grade A & B - Rs.9000/=
II. Grade C - Rs. 10,000/=
III. Grade D to Grade F - Rs.12,000/=
24 Reimbursement of Cook Allowance:
Grade A – C: Rs. 5000.00 p.m
Grade D – E: Rs. 7000.00 p.m
Grade F: Rs. 10,000.00 p.m
ED: Actuals
25 HOTEL AND LODGING CHARGES
Hotel Rent may be revised as under:
Grade Major Centres Mumbai, New Delhi, Kolkata, Chennai, Bangalore,
Hyderabad, Pune
Other Centres
A to C Rs. 7,500/- Rs. 6,000/-
D to F Rs. 10,000/- Rs. 8,000/-
The facility of reimbursement of Hotel charges even for a day’s tour be introduced.
26 Reimbursement of Curtains
The Bank has been providing reimbursement for curtains at the residence of officers in
Gr.F (CGM) and Executive Directors, once in three years which now shall be paid once in
two years. All other officers shall be provided reimbursement for curtains at the residence
once in three years from the year 2015. The maximum ceiling limit for the reimbursement
shall be Rs.12,000/- (GR.F-CGM), Rs.14,000/- ( ED) and Rs.10,000/- (officer in Gr.A to
Gr.E).
27 Mazdoor Hire Charges: Mazdoor Charges be raised to Rs.200/- at each point subject to
maximum of Rs.1000/-.
28 DAILY LOCAL CONVEYANCE WHILE ON TOUR
a) Existing ceiling of 50 Kms be removed.
23
b) Taxi fare from temporary HQ / Camp office to place of stay and back should be paid up
to 100 Kms. on actual basis.
29 COMPENSATION FOR LATE SITTING
a. Tea/Lunch/Dinner charges to be introduced suitably.
b. Actual taxi fare to be reimbursed for sitting late two hours beyond office hours.
c. Amount equivalent to one day’s Halting Allowance at normal rate and to and fro
taxi fare in full be reimbursed on Sundays/Holidays irrespective of duration in addition to
sanction of compensatory off. However, Bank should desist from instructing Officers to
work on Public & Statutory Holidays.
d. Supervision for Examination Duty, the honorarium should be suitably enhanced.
30 LAPTOP
Lap top should be given to each officer every 5 years
31 FACILITIES FOR WORKING IN LOW TEMPERATURE AREA
Expenses of pull over and woolen socks may be revised keeping in view the rising prices.
32 CLEANING ALLOWANCE/HOUSEKEEPING/MAID-SERVANT ALLOWANCE
Cleaning Allowance, etc. to be reintroduced to Rs. 5,000 per month to cover upholstery,
furniture and house cleaning to all Officers.
33 FOREIGN TOUR
All officers should be offered at least a single foreign training in his tenure.
34 Golden Jubilee Scholarship for wards
a. Golden Jubilee Scholarship granted to meritorious children of officers should be
enhanced substantially. All children of officers who secure first class in SSC and 50%,
60% and 75% marks in Arts, Commerce and Science faculty respectively, in HSC should
be granted scholarship.
b. Scholarships in the form of full reimbursement of tuition fees should be granted to
officer’ wards who join professional courses.
24
35. DR. B. R. AMBEDKAR SCHOLARSHIP
The Dr. B.R. Ambedkar Scholarship should be enhanced and should be at par with the
Golden Jubilee Scholarship.
36. HIGHER RATE OF INTEREST ON DEPOSITS OF STAFF MEMBERS/NO ADDITIONAL
INTEREST ON FDOD OF STAFF MEMBERS.
Higher rate of interest up to 2 % over the normal rate of interest on deposits to be given
on deposits of staff members, their relatives, friends and family members as also retired
staff members who are senior citizens. Suitable declaration should be taken while
accepting such deposits. Also no additional interest to be charged on FDOD availed by
staff members.
37. PURCHASE OF BANK’S FLAT/LAND
Preference to be given to IDBI Bank employees and officers or co-operative societies
formed by them for purchase or Bank’s flats/land or any other property that are being
disposed off.
38 BRIEFCASE/BAGS
Reimbursement of cost of Travel Bag/ Briefcase /bags to be reintroduced to Rs. 5,000/-
for officers in Grade ‘A’ to ‘C’ and Rs. 8,000/- to Senior officers every year. Officers in
Audit Department to be granted double of this amount.
39 NEWSPAPER & PERIODICALS
Reimbursement of Rs.1,000/- per month to be granted for purchase of Newspapers,
Periodicals, Books, CDs & DVDs for enhancement of knowledge and skills .
49 HEALTH CLUB MEMBERSHIP
Membership of Health Club may be reimbursed in order to help them keep good health,
and for de-stressing and reducing strain, as it is affecting their health. Bank may also
consider reimbursing the cost for Stress relieving and Better Living courses.
41 TRAINING CENTRES
25
Training centres to be set up/shifted at/to hill stations like Ooty, Mahableshwar,
Mussorie, Darjeeling, Shillong, Gangtok, Shimla, Munnar, etc.
42 PROMOTING ACQUISITION OF PROFESSIONAL QUALIFICATIONS
(a) JAIIB/CAIIB
i) One additional increment for JAIIB and two advance increments in respective Pay
Scale for CAIIB (i.e JAIIB+CAIIB) shall be granted.
ii) For those who have reached Maximum of Pay Scale and also drawn Fixed Personal
Allowance, Post-scale JAIIB/CAIIB Allowance to be equivalent to One Last Drawn
Increment in the respective Pay Scale for JAIIB and Two Last Drawn Increments for
CAIIB, as the case may be, shall be granted after completion of 1 year from date of
eligibility of Fixed Personal Allowance.
iii) The JAIIB / CAIIB Increments and the Allowance to qualify for Dearness Allowance and
all Superannuation Benefits.
iv) JAIIB and CAIIB increments to be protected on promotion while making fitment.
(b) Hindi Examinations
i) Increments for passing Hindi Examinations be granted to all categories of officers.
ii) Private Secretaries passing Hindi Stenography examination be made eligible for an
increment.
(c) Other Professional Qualifications
Double Graduates/Post Graduates/MBAs/CAs/CSs/CFAs/ICWAs/LLB/Degree in IT area etc. be
granted two additional increments. Officers having Ph.D. qualification, in any stream, should
be granted two increments and consequential rise in the post-scale Special Pay.
43 ASSURED PROMOTION / PERSONAL PROMOTION
The Bank had been affected by Stagnation for decades and the ratio of officers called for
Interviews was as low as 1.5 (down from 1:3) for over a decade. As large scale stagnation at
the Maximum of Pay was observed at Grade D level, a scheme for Personal Promotion was
introduced to keep officers motivated initially in December 1999, in line with the promotion
policy prevalent in Reserve Bank of India. Office Orders were issued to those qualifying for
the promotion granting them all Pay, DA, Allowance and Perks.
26
The Scheme and the Office Orders issued also read as follows: “ The Bank may entrust an
officer who has received the benefits of Personal Promotion, the duties and responsibilities of
Grade “E”.
Accordingly, several of the promotes under Personal Promotion also continued to hold the
positions of the higher Grade on continued basis since the concerned General Managers were
shifted from the centres.
In January 2005 the Personal Promotion Scheme in the Bank in line with Reserve Bank of
India was implemented for Grade A and Grade B Officers also. The scheme was removed
once the Promotion prospects improved on taking up of Commercial Banking activities by the
Bank.
However, at the time of Harmonization of Pay with effect from November 2007, several of
the Allowances Grade Allowance, Conveyance Allowance etc and Perks (LTC, Telephone,
Laptops, Reimbursement, Vehicle Maintenance, Driver’s Salary, cost of Briefcase /
Periodicals etc) available for the Grade to which promoted to were withheld unilaterally from
being extended to the officers promoted under Personal Promotion Scheme.
Incidentally, the Bank had been discriminative against this Minority of Officers covered under
Personal Promotion, who have been stagnating at the Maximum of Pay Scales for years, while
it benefitted a majority of officers by giving the extension in Service in service by 2 Years
beyond 58 years of age, purchasing and providing Cars to Officer at Bank’s cost, and allowing
officers to retire with Negative balance in Sick Leave Account on account of retrospective
adoption of a cap on Sick Leave, without factoring in these by calculating Cost to the Company
and factoring it in the compensation package.
The Bank to honor the Office Orders issued to individual Officers Promoting them under the
Scheme and settle Arrears along with the Arrears for the current revision in Pay. Incidenta lly,
several of the components of the compensation of the higher grade also have bearing on the
Superannuation benefits viz DA on Grade Allowance, Encashment of Leave at the time of
Retirement etc. hence the position needs to corrected and arrears paid.
The eligible Perks also to be extended as per entitlements of the Grade to which promoted with
immediate effect, settling arrears, wherever the facility can be converted in money terms.
43. CAREER PROGRESSION
The Bank to declare and strictly follow the Promotion, Placement and Transfer Policies, taking
inputs from the Officers and reviewing the same from time to time. Large scale Rejections
and Stagnations to be avoided by appropriate manpower planning. Bank to consider Running
27
Scales for Junior ( A to C) Senior (D to F) to keep officers motivated even if they are unable to
make it to next level, by compensating through Annual Increments.
44. LONG TERM SERVICE INCREMENTS
In appreciation of Committed Service to the Bank and continuing Loyalty Long Term Service
One Increments may be granted to those who have completed 20 years of Service in the Bank.
Two increments may be granted to officers who have completed 33 years of Service in the
Bank. These increments to earn DA and superannuation benefits. Such gesture will
compensation officers who are not getting any monitory compensation having exhausted the
Scale of Pay and Stagnation Increments etc as also still contributing to the Organization
without exhausting their Sick Leave. The grant of such Increments may be subject to the
Officer having more than 60 days of Sick Leave to his credit as on completion of 20 years and
more than 100 days sick leave as on completion of 33 years or more.
45. RISK/OPERATIONAL ALLOWANCE
Officers working in risk prone areas like Cash Department, CCU, RPU, CPU & Currency Chests
be paid Risk/Operational appropriate Risk Allowance calculated based on Industry level
calculations of un-avoidable professional losses that occur to Individuals, or alternatively
subscribe to Insurance Policy to meet such losses that occur despite the best efforts on the
part of the officials.
46. DISTURBED AREA ALLOWANCE
Disturbance Area Allowance of 25% of Basic Pay should be paid to Officers working in the
branch which comes under disturbed area and Terrorist prone areas called as The Red
Corridor. Appropriate Group Insurance Policies may be taken by the Bank for Officials
operating in such areas.
47. INCENTIVE FOR WORKING IN RURAL CENTRES AND OTHER SENSITIVE AREAS
An additional allowance to the extent of 20% of the Basic pay drawn by the Officer. Weightage
for the purpose of Promotion. Choice place of posting on completion of the assignment.
Officer posted in rural branches should be allowed to keep his/her family at a place of his/her
choice. If the officer is occupying Bank’s flat in the previous centre, he/she should be allowed
to retain the flat/ leased accommodation till his rural assignment is completed.
28
48. CLOSING ALLOWANCE
All Officers irrespective of the office of posting, i.e. branch/administrative office etc. should
be paid the closing allowance equal to 15 days of their salary once a year.
49. FACULTY ALLOWANCE
Honorarium to be suitably enhanced to Rs. 2000/= per slot for non-faculty who are assigned
Training Classes in ZTC, JNIBF.
50. KEY ALLOWANCE
An amount of Rs.2000/- per month to be paid to those named as Custodians of the Vaults
and Currency Chests.
51. Categorization of branches Business Size in Rupees (Deposits & Advances)
Grade A : Upto 5 Crores
Grade B : > 5 Crores up to 20 Crores
Grade C : > 20 Crores up to 50 Crores
Grade D : > 50 Crores up to 250 Crores
Grade E : > 250 Crores up to 1000 Crores
Grade F : > 1000 Cores
52. OFFICIATING ALLOWANCE
Officiating Allowance for officiating in higher grade or higher grade branch to be decided after
mutual discussion. For Officers, officiating for 15 days or more, the allowance for the entire
month be given to the officiating official.
53. Post Allowance :
Branch Heads, SOM, Teller Service Executives, CPC Staffs, RAC Credit & Operations Staffs to
get Post Allowance of 25% of pay counting for DA and superannuation benefits on account of
additional risk and responsibilities.
29
54. FURNITURE AND FIXTURE FACILITY:
Furnitures
Officers in Grade A - Rs.1,00,000.00
Grade B & C – Rs.1,75,000.00
Grade D – Rs.2,25,000.00
Grade E – Rs.3,00,000.00
Grade F – Rs.4,25,000.00
ED – Rs.4,50,000.00
Details of furniture items to be included and life of each item will be finalized after discuss ion.
Fixtures
Fixture items such as Tube lights, LED bulbs, fans, geysers, coolers, fire extinguishers etc. to
be reimbursed on actual cost basis to all the officers. The details and life of each item will be
finalized after discussion.
55. SUPERANNUATION BENEFITS
i) Contribution to Provident Fund be at the rate of 15% of Pay, Grade Pay plus Dearness
Allowance.
ii) Dearness Allowance to be merged with Basic Pay Automatically the moment it crosses
50%, with revised Basic forming the base for all other calculations that are dependent
on Basic Pay, their percentages remaining unchanged.
iii) Amounts required to meet the Pension, Gratuity, Encashment of Salary eligibilities to
be expeditiously calculated and transferred to the respective Pension, PF and other
Superannuation Trusts and the investments there of to be as per the Government
Norms stipulated. These amounts should not be invested in the Employers business
as this increases the risk of benefit passing on to the beneficiary, in case of failure of
Business of employer.
i) Retiring Officers to be allowed to retain their PF balances with PF Trust up to 5 years.
30
ii) Gratuity should be paid at the rate of one month’s gross salary for each year of service
or part thereof, reckoned from the date of appointment to date of retirement/death,
without any ceiling.
iii) Income Tax liability on all Superannuation Benefits, including Leave Encashment,
Commutation of Pension, Gratuity, Additional Contribution to Provident Fund,
Exgratia, etc. to be borne by the Bank if the Officer has served the Bank for more than
20 years.
iv) Bank to issue instructions to HRD to be extra cautious in its proposals, calculations
and disbursals so that the benefits of the Officers do not get curtailed because of their
envisaging change in the structure of Compensation Packages. Our Senior Colleagues
should not be expected to be fighting with the Bank for already earned benefits. (The
Bank needs to correct its position as regards Personal Promotion entitlements and
release the arrears without further delay)
1 Compassionate Gratuity
Compassionate Gratuity to be enhanced to Rs. 5 Lakh.
2 Pension, Family Pension & Ex-Gratia to Pre ’86 Retirees
All officers to be given one more opportunity to opt for IDBI Pension Scheme (1993) linked
to the RBI Pension Scheme. Opening up of the Pension Scheme to IDBI Officers makes
economic sense for any Pension Fund Operator especially on the following grounds: -
a) IDBI Bank has majority of staff within 35 years of age. Once opting for the Pension
Scheme, it is expected that over 90% of them shall remain loyal to and be
committed to serve IDBI Bank for next 25 to 30 years (Pensionable age expected
to be raise to 65 with life expectancy improving).
b) The Minimum Service Period for eligibility of Pension being 20 years and no other
Organization outside being capable to offer Defined Benefit Pension scheme, the
attrition rate will come down to Nil level thereby saving the bank enormously on
recruitment, training and replacement costs.
c) There are number of Agencies who may be interested in operating the Scheme of
IDBI Bank especially with limited window opening for those below the age of 35.
31
d) With the (i) Basic Pay, DA formula being well known, (ii) Govt. commitment to
maintain inflation below 4% (iii) the difference between the Minimum and
Maximum Basic Pay being regulated by employer by shifting the increases to items
like Grade Allowance etc., (iv) Life expectancy of those retiring in next 5 years
being not more than 70 years, LIC and other Life Insurance Companies will be more
than happy to take over and operate the Pension Scheme.
e) The Equity Market in India is expected to grow by leaps and bounds and the Bond
Market is in nascent stage providing good scope for profitable investment yielding
high returns to sustain a Last Pay drawn based Pension Scheme, where immediate
outgo are limited. (Though, this might justify subscribing to NPS more than the
Defined benefits scheme, where with the death of the Pensioner the benefits get
relinquished and the Family Pensions is a pittance- See plight of 1989 retirees
drawing Pension of Rs. 10000/= a month).
i) The Bank may take up with RBI and other FIs for approval of the Basic Pension to be
the Last Drawn Pay or the last 10 months’ average, whichever is beneficial. Drop in
Salary on account of Sick Leave / Without Pay absence not to be factored while
calculating the Average. Also proposal for enhancement of the commutation amount
to 40% of Basic Pension to be pursued. Improvement in the Pension Scheme in line
with the recommendation of 7th Pay Commission, including revision of pension at the
time of each wage negotiation resulting in marking up of Basic Pay to be passed on to
Pensioners. This has become more important because the Basic Pay Revision in RBI
in respect of Class III has given increase of 90% over Basic Pay where as the DA as on
Nov. 1, 2012 was around 65%. The mark up of 25 % will be available to those retiring
on 1st December 2012, in comparison to those who retired on the previous day.
ii) Number of years for eligibility for full Pension may be pursued for reduction to 25
years instead of 33 years. Those who have served more than 25 years already may
be given Basic Pension equal Last Drawn Pay (for Pension Purposes) multiplied by
number of years served divided by 50.
iii) The dependents of officers dying in harness should be allowed the benefit of
commutation on the lines of normal retirees, in addition to the compassionate
package.
iv) Full pension be restored 10 years after commutation.
v) Family Pension to be paid at the rate of 50% of the last drawn pension of the deceased
officer, till the age of 70th year of notional age of the deceased officer which ever is
32
later without ceiling of Basic Family Pension and without tampering of Dearness
Relief. Family Pension should be revised as and when the pay of officers is revised.
vi) Ex-Gratia payable to pre ’86 retirees or their spouses should be raised to Rs.10,000
per month (basic) for retirees / Rs.5,000 per month (basic) for spouses of deceased
pre ’86 retirees, as the present Ex-Gratia basic is miserably low at Rs. 300/ Rs. 150 per
month, respectively, and all the beneficiaries are above the age of 80 years, with very
few of them surviving; the age of 80 years considered by the VI Central Pay
Commission as qualifying for enhancement of pension with advancement of age.
vii) Invalid Pension should be suitably enhanced.
viii) Past service in Government/Public Sector Banks to be reckoned as qualifying service
for seniority and pension.
ix) Pensionary benefits be extended to pre ’86 retirees. Besides, those who resigned from
the Bank’s service on completion of 20 years of service between 1-1-1986 and 31-10-
1990, should also be extended Pensionary benefits.
x) Pension being deferred payment of wages, the clause “enabling employer to
partially/fully withhold pension” should be deleted.
xi) New Pension Scheme to be available only as an option and not as compulsion. NPS
circular issued in April, 2012 to be implemented prospectively.
xii) Definition of family for pension/compassionate gratuity should include dependent
parents/nominees of officers.
xiii) With every revision of pay, pension of all retirees be updated correspondingly, as
available to the Central Government employees, in terms of Central Pay Commission.
xiv) Dearness Relief on basic pension may be worked out at 25% more than the
Neutralization Rate of 0.10% for 4 slabs for those up to 75 years of age and 50% more
for those above 80 years to take care of the Medical Expenses .
3 THIRD SUPERANNUATION BENEFITS
IDBI Bank currently has only two superannuation benefits viz., Gratuity and Pension are
available to retirees from the Bank, whereas SBI and several other organizations have
33
Contributory Provident Fund as third Superannuation benefit along with Pension and
Gratuity. Bank may consider CPF as third Benefit in line with SBI.
4. Scheme for employment / Assistance on Compassionate Grounds
i) The spouse of the deceased employee should be given option of employment
irrespective of age/compassionate financial package.
ii) The Bank should revise the compassionate financial package after taking into account,
the limit of amount of loans available to the officers under the Bank’s various loan
schemes, such as for housing, education, car, computer, etc.
iii) Further, spouses of the deceased employee, who had not opted for pension, should
be allowed to opt for family pension.
iv) In the event, the spouse has predeceased the deceased employee; the option of
employment to the son/daughter should be given.
4 ADDITIONAL RETIREMENT BENEFIT
The Bank should introduce a post retirement benefit, in the form of Basic Life Insurance and
the amount of monthly premium being equal to 10% of pay, counting for superannuation.
The monthly premium be paid in full by the Bank; with a lump sum amount paid on retirement
or dying in harness; this is in addition to the Group Savings Linked Insurance.
5 ADDITIONAL PROVIDENT FUND & NPS DEDUCTION
(I) Bank to arrange for obtaining modification in the Additional Provident Fund
Subscription earlier committed by the Officer in % terms to reduce the same to cover
the amounts already deducted, or seeking additional deduction from arrears not
exceeding the % requested for earlier. In no case, reduction in Additional Provident
Fund Subscription resulting in refund of PF deducted is to be entertained.
(II) Bank to examine the issues related to Officers covered under National Pension System
(NPS)
6 EFFECTIVE DATE & ARREARS OF PAY
34
The superannuation benefits effective from the current charter period to be given
retrospectively, on the lines of the Central Pay Commission Report & RBI Rules. Arrears to
have Income Tax Benefits as available to arrears of pay.
The issues of superannuation benefits should be worked based on Revised Pay & Allowances,
Differentials in Encashment of Leave, Commutation of Pension & Family Pension, Gratuity,
Compassionate Gratuity etc. paid along with arrears of serving employees. The Bank to also
transfer sufficient funds to the appropriate Trusts managing the Superannuation Benefits to
meet future enhanced dues to the Pensioners.
f) PART-TIME OFFICERS
Revision of pay scales for part-time officers be made along with the regular officers.
g) DATE OF EFFECT
The revised scales of pay and allowances and perquisites be effective from November 1, 2012.
h) MEMORANDUM OF UNDERSTANDING
A memorandum of understanding be signed with the Officers’ Association. The agreement be in
force for a period of three years from November 1, 2012. During the operation of the agreement,
if any improvements in pay structure, etc. for officers in the industry or employees/section of
officers in IDBI Bank are brought about, the benefits be extended to all IDBI Bank officers also
with effect from November 1, 2012.
Finally, the least expected from the Bank is not resort to Employee discriminatory decisions like
(i) Curtailment of Sick Leave already earned by one segment of officers and that too while overly
benefiting another segment there creating divisions. Accordingly, as a benevolent measure, the
Sick Leave standing to the credit of IDBI officers be allowed to en-cash to the extent proposed to
be gobbled up, at the option of the officer. More so because for other segment of officers in the
Bank have been availing the same on regular basis or officials allowed to retire with negative
balances, even with the extended service period of 2 not being counted while accruing benefits to
others on Cost to the Company calculations basis and allowing Cars to be bought at Bank’s cost
and allowed to be retained by these officials. (ii) The Bank is also yet to honour its Office Orders
on Personal Promotion in letter and spirit, where certain Allowances and Perks have been curtailed
retrospectively. A review of the decision shall restore the trust of the officers in the Bank’s Human
Resources Department. (iii) The Bank also needs to ensure that under the garb of Transformation
35
or Restructure of Compensation Package, the interests of the Veterans (by way of Superannuation
Benefits already earned in line with the counter parts in RBI/SIDBI/NABARD) are not expected
to be sacrificed to give way to variable pay and reimbursements. It needs to be appreciated that
the Superannuation Benefits have already been earned by Officers having hardly One to Sixty
months of service in the Bank, while they have trusted the Bank to be of support to them for their
remaining 5 to 10 years of life post retirement. I am sure the Bank will not expect these Seniors to
trade off some increased current benefits that might last for 1 month to 36 months with their
precious post retirement entitlements in line with the RBI linked Pension Scheme. Accordingly
any attempt to diminish components going into the calculation of Superannuation Benefits may
therefore be critically examined before approving and care taken to protect the interests of the
Veterans, while proposing a rewarding working environment to the youngsters to provoke in them
the commitment to serve the glorious Institution, with their Spirit, Mind, Passion and Body all
aligned to serve its all most comprehensive and all encompassing IDBI Charter.
ANNEXURE -II
HRA ( Payable on Pay and Grade Pay)
For officers not occupying Bank’s accommodation/Leased housing
Grade/City type
Class A Class B Class C
A 17.50% 16% 13%
B 17.50% 16% 13%
C 17.50% 16% 13%
36
D 25% 18% 13%
E 25% 18% 13%
F 25% 18% 13%
ED 35% - -
Officers Staying in Bank’s Flat or Leased Accomodation provided by Bank are not to be paid HRA.
HRA @ rate applicable to place of last posting to be considered as part of Pay for Encashment of
Leave in Service or at the Time of Retirement, irrespective of the fact whether one is staying in
Bank’s Flat, Leased Flat or in own accommodation
37
ANNEXURE -III
Rates of HRA for officers occupying Dormitory/VOF Accommodation/
Sharing accommodation (Payable on Pay and Grade Pay)
Grade Class A Class B Class C
A 11.5% 10.5% 10%
B 11.5% 10.5% 10%
C 11.5% 10.5% 10%
D 16.50% 12% 10%
E 16.50% 12% 10%
F 16.50% 12% 10%
ED 23% - -
No HRA to be paid to officers occupying Dormitory, VOF Accomodation, Sharing Accomodation if flat is retained at
the place of previous posting.
38
ANNEXURE -IV
Rates of Conveyance Allowance
(Litres of Petrol @ Rs. 60)
Annexure V
Leave Fare Concession for officers- Limits
Grade LFC p.a.
A 25,000
B 40,000
C 60,000
D 70,000
E 80,000
F 90,000
ED 1,10,000
Grade Class A Class B Class C
A 185 165 145
B 190 170 150
C 220 200 180
D 245 225 215
E 390 370 350
F 540 520 500
ED As per Actuals
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Part III
1. Additional Subscription of PF
Effective from April 2015, the officers shall be allowed to contribute additional PF to the
extent of 90% of their Basic Pay.
2. Ordinary leave
2.01 Ordinary Leave will be earned at the rate of 1 day for every 11 days of service.
2.02 On or from 1.1.2015 Ordinary Leave, can be accumulated up to a maximum of 10 months.
2.03 OL should be taken for minimum of 8 days inclusive of intervening holidays. If suffic ient
CL balance is not available, less than 8 days of OL can be availed.
2.04 An officer desiring to avail OL shall ordinarily give, not less than 15 days notice of his
intention to avail such leave.
3. Leave encashment:
On or from 1.1.2015 Ordinary leave shall be allowed to be accumulated up to not more than 10
months. However, encashment of Ordinary leave shall be restricted up to a maximum of 240 days.
In terms of office circular No.IDBI Bank/2009-10/118/HR dated July 31,2009 officers were
allowed to accumulate and encash ordinary leave up to 180 days from 10 months. However, the
officers who were having more than 180 days of Ordinary leave to their credit as on August
1,2009 were either allowed to encash it immediately or allowed to encash at the time of
superannuation. Officers who had opted for encashment of such Ordinary leave shall be allowed
to encash such ordinary leave in addition to 240 days as stipulated above.
In case of a minority of Officers who have been too faithful to the Bank and conserving their Sick
Leave for later part of the service by availing Casual & Ordinary Leave for sickness, the Bank
has removed such excess Sick Leave beyond a limit decided on the date of Harmonization. This
is like Retrospective Taxation and unjustified. Bank to credit 50% of Sick Leave earned by
officers prior to Harmonization and not availed, to the extent removed from the account as part
of harmonization by placing limit on the Total Sick Leave, to be credited to respective officers
Ordinary Leave Account as Special Ordinary Leave and allowed to be availed during the
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remaining period of service or allowed to be encashed at the time of Retirement, if not availed.
Incidentally, for other officers have regularly availed Sick Leave and not accumulated and several
others have negative Sick Leave to their account and have been allowed to retire without any
recovery.
4. Maternity Leave (ML)
4.01 Maternity Leave may be granted to a female officer of the Bank for a period not
exceeding 6 months on any one occasion and 12 months during the entire period of an Officer's
service;
4.02 The officer would be eligible for a maximum of 45 days of ML in the event of
Medical termination of pregnancy/Miscarriage/abortion.
4.03 Within the overall period of 12 months, leave may also be granted in case of
hysterectomy up to a maximum of 60 days
4.04 Leave will be granted once during service to a female officer for legally adopting a
child who is below one year of age for a maximum period of six months subject to the following
terms and conditions:
(a) Leave will be granted for adoption of only one child.
(b) The adoption of a child should be trough a proper legal process and the employee would
produce the adoption-deed to the Bank for sanctioning such leave
(c) The leave shall also be available to biological mother in cases where the child is born
through surrogacy.
(d) The leave shall be within overall entitlement of 12 months during the entire period of
service
5. Paternity leave
With effect from 1.6.2015, male officer employee with not more than two surviving
children shall be eligible for 15 days paternity leave during his wife’s confinement. This leave
may be combined with any other kind of leave except casual leave. The leave shall be applied
up to 15 days before or up to 6 months from the date of delivery of the child.
6 Sick Leave:
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6.01 Sick leave up to 18 months (half pay) will be granted to an officer employee during
his/her entire period of service.
6.02 Officer employee will be required to submit Medical Certificate in case he/she
avails Sick leave for more than 4 days in a stretch.
6.03Sick leave can be combined with any leave except CL and Special CL
6.04Advance Sick leave: In the deserving cases, Bank will grant advance sick leave to an
officer who has served the Bank not less than 5 years. Advance Sick leave will be for
not more than 4 months (Half Pay) in a stretch maximum on three occasions during
entire period of service of the officer.
6.05Already earned Sick Leave that has been curtailed on introduction of new limit imposed
on total Sick Leave of the Officers consequent to Harmonisation to be encashed as other
officers who have Negative Sick Leave because of having already availed more Sick
Leave beyond entitlement have been allowed to retire without any recovery. Further,
other officers have also been regularly availing sick leave by substituting these into
Casual Leave in the following year. Alternatively, such leave that had been removed
from Officers Account of Accrued Sick Leave be restored.
7. Special Sick Leave:
With effect from June 1, 2015, Special Sick leave up to 30 days will be granted to an officer
employee once during his/her entire period of service for donation of kidney/organ.
8. Special Casual Leave for union/Association activities:
8.01. Ten members of Central Executive Committee of All India IDBI Officers
Association would be eligible to be sanctioned Special Casual Leave up to maximum of 21 days
in a calendar Year. The Association will furnish the names of such members in the first week of
January every year. .
8.02. All Secretaries of the State Units of the Association would be eligible to be
sanctioned special leave up to a maximum of 15 days in a calendar year, The Association will
furnish a list of State Secretaries in the first week of January every year.
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8.03. Special Casual Leave granted to any of the members of the Association as defined
in paragraphs 36.01and 36.02 above will not exceed 21 days in a calendar year.
8.04. The President or Vice-President or General Secretary of the Association will
confirm in writing to the Bank that the absence is necessitated by reason of him/her having to
attend meeting as a representative of the Association.
9. Extra-ordinary leave to join spouse abroad
An officer may be granted Extra-ordinary leave to join his/her spouse aboard, who are
deputed or posted abroad. Such leave may be granted only once during the entire service of an
officer, subject to the officer having rendered service for a minimum period of 5 years. Such leave
may be for a maximum period of 24 months.
38. Special CL for sports, trekking and mountaineering
Special CL of 45 days in one calendar year shall be granted when the absence is
necessitated by reason of any employee officer participating in sport or events of national or
international importance or any other sports including trekking and mountaineering or event
approved by CMD/ CEO & MD/ DMD
10. Study leave
Study leave shall be grated to offices of the Bank for pursuit of curses having close
relationship with the activities in which the Bank is interested or is of relevance to the Bank for a
period of 2 years, which may be extended by the Bank for a further period of 2 years under
exceptional circumstances, as may be decided by the competent authority.
11. Special CL for blood donation
An employee officer shall be granted Special CL for donation of blood on the day of the
donation of blood or a day after thereof.
12. Accident leave
41.01 Accident leave shall be granted to an employee officer who sustains any injury in
the course of the performance of his duties for the period for which leave is certified by
BMO/Government and/or Municipal Doctor or any other Doctor acceptable to the Bank.
41.02 An employee officer on accident leave shall, for the first four months thereof, draw
a salary equal to his leave pay and half salary for the rest of the period.
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13. Leave for curfew
An employee officer shall be granted Special CL if his absence is necessitated because of
imposition of curfew by the authorities
14. Sabbatical Leave:
An employee officer shall be granted Sabbatical leave for a period of minimum 2 months and up
to 2 Yrs for family exigencies that can also be taken in 4 occasions.
14. Bank shall follow the practice followed in the Banking Industry of deduction of salary for
participation in the strike and will discontinue the present practice to postpone the increment
15. LEAVE FARE CONCESSION (LFC)
a) Air travel to be allowed to all the officers every year irrespective of basic pay with the
option of declaration. Income tax to be borne by the Bank.
b) Lodging and boarding charges to be reimbursed as in case of tours.
c) Suitable enhancement of incidental charges be made.
d) The availment of set in spells be allowed within overall eligibility.
e) Last set of LFC may be availed within a period of six months after date of retirement.
f) Retired officers and their spouses be extended the Leave Fare facility.
g) LFC to be extended to all officers irrespective of the destination. Foreign Travel to be
allowed within the entitlement up to the maximum distance permissible in India.
h) Incidental expenses equivalent to 3 months pay be granted to retiring officers with LFC.
i) LFC in respect of dependent parents/dependents may be granted from their place of stay.
j) The distance for LFC should be enhanced to 10,000 Kms.
k) Bank’s Medical Officers should be granted LFC in full and not on proportionate basis.
l) Encashment of OL should not be linked to LFC.
m) Whenever the amount of LFC is drawn on the basis of encashment, the whole amount
thus drawn should be exempted from payment of Income Tax.
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16) CONVEYANCE EXPENSES
a) Reimbursement of petrol charges may be adequately enhanced for all grades and should
be the same in each grade, irrespective of place of posting. Municipal Road Taxes paid be
reimbursed to all on actual basis.
b) The reimbursement towards cost of Maintenance of car may be introduced for officers
in
Grade ‘A’ and ‘B’ @ Rs.2,000 per month and for officers in Grade ‘C’ enhanced to Rs.3,000
per month. The allowance for Senior Officers be enhanced to Rs. 4,000 per month.
c) Parking Charges at per hour rate on monthly basis be granted.
d) Officers deputed for duties outside for more than three hours be granted out of pocket
expenses, toll charges on actual basis, irrespective of the distance.
e) Officers attending to station duty/protocol duty on ad-hoc basis or such other outdoor
duties be reimbursed conveyance on actual basis irrespective of distance for each visit. Tea,
lunch & dinner charges, including out-of-pocket expenses to be reimbursed.
f) Drivers’ Allowance be introduced for officers in Grade ‘A’ to Grade ‘E’ @ Rs.9000/- per
month.
17) LOANS/ADVANCES
a) Housing Loan
1. Housing Loan be enhanced up to maximum of Rs. 1 Crore and @ 150 months pay with a
minimum of Rs. 50 Lakhs. Also the Housing Loan to be extended to buy 3rd House without
selling any one of the first two Houses.
2. Rate of interest on Housing Loan should be half of the prevailing Bank Rate. Interest rate
on outstanding balance to be adjusted with every downward revision in the Bank Rate.
3. In case of officer dying in harness, outstanding balance of Housing Loan be waived in full.
4. The amount paid as insurance cover for Housing Loan be reimbursed in full on quarterly
basis.
5. Recovery of Housing Loan be spread up to the age of 70 years with certain easy conditions.
6. PF rules be relaxed for withdrawal for Housing Loan.
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7. The additional loan for essential items and repairs of own house should be granted in the
case of all houses where the Housing Loan has been availed.
8. Those who had availed of Housing Loan at higher rate of interest and the Income-tax
benefit of accrued interest that was not available to them, then, should be allowed waiver of
excess interest.
9. The concept of Self-leasing be introduced for the purposes of recovery of Housing Loan.
The amount should be, by taking into account, the amount the Bank is ready to pay as lease
rent for flats for officers, within reasonable distance of the Bank and in a good locality. By
applying this benchmark, the proportionate limits for each level of officers can be fixed. This
can be the basis for recovery of Housing Loan for the first five years. This may also be
extended for repayment of Housing Loan of those officers on the verge of retirement in order
to repay the outstanding Housing Loan/half the amount of the cost of the house or Housing
Loan, whichever is less.
10. Reimbursement of housing society/apartment maintenance charges @ Rs. 2,500 per
month be granted.
b) CONSUMER LOAN
Consumer Loan may be given up to Rs. 2 Lakhs at a low rate of interest. (50% of bank rate)
c) VEHICLE ADVANCE
1. Car Loan be raised to Rs. 10 Lakhs to officers in Grade ‘A’ to ‘C’ and Rs. 15 Lakhs to officers
in Grade ‘D’ and above. The loan should be on 100% cost basis including road tax and
accessories (On road cost).
2. Recovery be made on depreciation cost basis, in 5 years.
3. Interest on Car Loan be reduced to half of the prevailing Bank Rate.
4. Additional Car Loan to the extent of difference between the outstanding balance of the
earlier loan with that of the revised loan limit may be granted to those desirous of changing
their car, without insisting on sale of old vehicle.
5. Two-wheeler loan be raised to Rs. 2 Lakhs. The loan also be on 100% cost basis including
road tax and accessories (On road cost). Recovery be made on depreciation cost basis, in 5
years.
6. Interest on loan for two-wheeler may be charged at half of the prevailing Bank Rate.
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7. Insurance premium covering zero depreciation facility to be reimbursed on the outstanding
loan amount.
d) EDUCATION LOAN
Education Loan be granted up to Rs. 10 Lakhs (Rs. 20 Lakhs for higher studies abroad) without
charging any interest on Education Loan up to Rs. 5 Lakhs and charging interest at half of the
Bank rate on the loan over and above Rs. 5 Lakhs.
e) COMPUTER ADVANCE
The advance under the present scheme attracts high rate of interest and needs to be revised
to encourage officers to buy computers. In view of the inherent benefits to the Bank, it should
be interest free. The recovery of Computer Loan be on depreciation cost basis as the
PCs/Laptops get outdated within a few years. Second Computer Loan be granted when
depreciated book value of existing PC/Laptop becomes nil on notional basis or at least once
in five years.
f) FESTIVAL ADVANCE
The ceiling to be raised to three months’ gross salary, rounded to the nearest thousand.
18. MEDICAL EXPENSES
i) For inclusion of Dependant family members, cap of annual income of parents excluding
their pension to be increased to Rs. 20000/-
ii) Reimbursement in full be made for treatment taken under Ayurvedic, Homeopathy,
Siddha, Unani, Acupuncture, Acupressure and other alternate healing methods etc without
any conditionality. Curative and preventive treatment such as Panchkarma taken in
recognized clinics should be allowed. The treatment charges in the above mentioned
alternative therapies should be increased by revision of schedule rates.
v) Reimbursement in full for actual outdoor/indoor treatment including consultant’s
fees, service charges, surcharge and taxes, etc. be given to officers, including
dependent parents.
vi) The treatment cost of fatal ailments e.g., cancer, heart ailment, renal failure, TB, HIV
+ve, etc, should be reimbursed in full, irrespective of any ceiling. The OPD treatment
for the said ailments should also be paid in full.
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vii) The eligible income ceiling of Rs. 5000/- for being dependent parents may be revised
and instead it be extended to cover parents/parents-in-law, dependent children, not
coming within the purview of income tax.
viii) The empanelled hospitals should be appraised with eligibility of IDBI staff, so as to
minimize the recovery of direct settlement bills.
ix) As per the existing rules, parents can avail OPD treatment in Government/Municipal
hospitals only. The OPD treatment including pathology/radiology tests should be
extended to parents in private clinics.
x) Bills for treatment of skin diseases, STD treatment, gynecological and psychiatric
treatment be reimbursed in full, without any conditionality.
xi) Reimbursement of expenditure for chronic ailments should be allowed on attending
physician’s advice, without any conditionalities.
xii) Maternity expenses be reimbursed in full.
xiii) The charges towards medical tests not included in the schedule but recommended by
specialists be reimbursed in full.
xiv) Cost of equipments like collar, crutches, wheelchair, prosthetics, other aids like
hearing aids, etc. should be reimbursed periodically in full.
xv) Cost of dental treatment should be reimbursed in full. It should also be extended to
dependant parents.
xvi) The rates of dental treatment in case of Root Canal/Cap/bridge/Implants should be
suitably enhanced and conditionalities be removed.
xvii) Certain latest treatment such as Fluoride treatment, etc., which is curative in nature
should be included in the Dental Schedule.
xviii) Cost of all specialist treatments including diagnostic and therapeutic scopies,
ophthalmologic laser treatments, hormonal treatment, stem cell transplant, cardiac,
neurological, oncological investigations and treatment, cost of nuclear medicines,
MRI/CAT etc., scans, sonographical tests etc. be reimbursed in full. Ophthalmic power
correction test – XMR be considered for reimbursement in full.
xix) Mentally retarded brothers/sisters may be considered as dependents.
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xx) Schedule of charges be revised at the end of every financial year and there should be
a common schedule for the entire country.
xxi) Taking into consideration increase in schedule rates, the present limit of per
hospitalization should be increased suitably.
xxii) The visit charges in certain cases are on the higher side therefore, in all cases two visits
per day be permitted with the approval of BMOs. ICU/ICCU special visits by various
specialized doctors should be reimbursed in addition to routine visits.
xxiii) Reservation of beds in Govt./Trust/Municipal Hospitals be made at all centres, to
ensure admission in case of emergency.
xxiv) The treatment prescribed by specialists should be honoured by BMOs/SMOs as per
the rules laid down by the Medical Council of India. Credit Slips may be given, in case
of non-availability of medicines in the dispensaries. The list of Non-admissible
Medicines be revoked.
xxv) Investigations with respect to eyesight/refraction tests, ultra-sonography, cancer
detection tests, etc, be included in the Annual Health check-up scheme itself. Annual
Health check-up scheme may be extended to all and even to wards and dependent
parents.
xxvi) Distinction of medicines as curative and preventive be dispensed with for
reimbursement purposes, when prescribed by specialists.
xxvii) Cost of Pen Cartridge for insulin administration be reimbursed in full.
xxviii) Reimbursement of cost of Spectacles should be enhanced suitably, wards and
dependent parents be included.
xxix) Considering the present treatment given to new-born babies, all vaccines which are
prescribed by the hospital should be reimbursed in full.
xxx) BMOs should be eligible for reimbursement for Dental Treatment.
xxxi) Medical Bills of BMOs should be settled in full and not on proportionate working hour
basis.
xxxii) BMOs should be eligible for Direct Settlement for Hospital Treatment.
19. MEDICAL ASSISTANCE FUND (MAF)
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i) The monetary ceiling per hospitalization be revised and the restrictive
conditions on Stoppage/Room Rent charges should be removed.
ii) Part-Time BMOs should also be covered under MAF by extending the Scheme
to them.
iii) Reimbursement of Medical bills should be up to 100%.
iv) OPD treatment be extended to all retired members.
v) Dental treatment be extended to all retired members.
20. Transparency in Transfer Policy:
1. Request transfer, requests if any to be acknowledged and a Wait List no. to be given for
Minimum of 5 Branches.
2. Out of State / Zone transfer should be max for 3 Yrs and repatriated to the Home Zone and
preference to be given for 5 Cities with all benefits.
3. Spouse joining spouse as per GOI directives to be given top priority to avoid inconvenience
to the Officers.
4. Preference to be given for spouse joining spouse on Medical grounds
5. In each region / Zone once in a Qtr the ZH / RH to meet the Office Bearers of the Association
and the minutes to be circulated and grievances to be settled at the earliest.
5. Admin transfers to be done only in the month of Apr & May of each Yr. (GOI
Guidelines)
6. Officers should not be posted to any Rural FI and Rural branches of other than their
native State.
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FACILITIES ON TRANSFER
i) Joining time be enhanced to 15 days. Officers be allowed to avail the joining time in 3
spells.
ii) The officer/family be given additional air-fare once a year to his place of previous
posting/family to his present place of posting, in case, his family has not been shifted.
iii) Miscellaneous expenses towards incidentals be enhanced to 3 months’ basic pay with DA
to all officers moving with or without family. Donations required to be paid by officers for
school/college admissions of their wards in new centre may also be reimbursed.
iv) Lump-sum payment for packing/crating/local transportation be enhanced to Rs.25,000/-
on declaration basis.
v) On transfer Bank may arrange transportation of household goods, if so desired by the
officer.
vi) The minimum Halting Allowance on transfer be raised to 15 days.
vii) Hotel charges and Halting Allowance be granted for 7 days after the allotment of eligible
accommodation suitable for occupation.
viii) Retention of flat at previous centre be allowed on educational/medical grounds till the
allotment of eligible accommodation without any conditionality for all centres.
ix) Jammu should be, in principle, treated as ‘Hardship Centre” at par with Guwahati. Officers
on transfer to any centre from Jammu be allowed air travel via New Delhi in the absence
of direct flight, in view of risk involved in train travel.
x) Reimbursement of actual expenditure incurred on transportation of vehicle be made in
full.
xi) Rs. 10,000/- be paid towards winter clothing at centres having extreme climate.
xii) Officers on request transfer be extended all facilities that are available in case of normal
transfers. Officers on repatriation transfer to parent centre, at the age of 56 years or
above, be at Bank’s cost.
xiii) House Rent Allowance at the enhanced rate be paid to transferred officer.
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xiv) Arrangement with reputed schools may be made for admissions of wards of transferee
officers.
xv) Single Room flats should be provided in large numbers in all centres, so as to facilitate
officers on transfer.
21. PROMOTION POLICY
I) The Promotion Policy should meet the twin objectives of ‘Seniority-cum-merit’ i.e., of laying stress
on both seniority and merit and by giving due weightage to seniority, the prime concern of
stagnation can be addressed. It is for this reason, in the Central Government services weightage
to seniority and having an Assured Career Progression and giving a minimum of two promotions
during their entire service has been put in place. For the growth of an institution and to embrace
new ideas, brilliant and talented youngsters should also be given encouragement by regular
promotions so as to mould them for future higher responsibilities yet, the experience of the
seniors in the nitty-gritty of the day to day functioning should also be considered. Hence, the Bank
should review the Revised promotion Policy, and balance the twin objectives of ‘seniority and
merit’ for the sake of the institution and well-being of its officers.
II) Direct recruitment at Grade ‘B’ and ‘C’ levels be discontinued.
III) Promotion should be on seniority-cum-suitability basis based on benchmark system.
IV) Seniority be given due weightage in promotion in all grades and should be 50% of any promotion
exercise.
V) The Performance Appraisal Review (PAR) be made objective and it may be considered for deciding
only the suitability aspect of the promotion.
VI) Assured Personal Promotion (APP) should be granted on completion of 3 years in a grade and
conditions of PAR and leave should not be made applicable for the purposes of grant of APP. On
completion of 5 years he/she should be treated as promoted to that grade with all facilities and
designation.
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VII) Time Bound Promotion should also be granted on completion of 5 years for officers in Grade ‘A’
for promotion to Grade ’B’. The Time Bound Promotion for officers in Grade ‘B’ for promotion to
Grade ‘C’ should be on completion of 3 years, as against the present stipulated 4 years.
VIII) APP should also be extended to newly promoted Officers in Grade ‘A’ and also to Officers
in Grade ‘C’ and ‘E’.
IX) Officers on APP be given respective designation.
X) Widespread stagnation should be immediately addressed by grant of at least two promotions in
the officer’s grade, one in every 5 years. Finally, during the last year of service a promotion should
be granted on supernumerary basis.
XI) Vacancies to be declared in each grade and in the ratio of 1 :3 to be called.
XII) Fast Track in every year: 20% of total vacancies will be filled in the declared vacancies
XIII) GOI guidelines w.r.t reservation policies to be followed
B. Transparency in Promotion Policy.
I) PAR should indicate only grade A+, A, B+, B and C.
II) Moderation norms be laid down and be made transparent.
III) Details of the results of the selection process for promotion i.e. marks obtained under various
parameters be advised to the officers. Where ever possible all the marks in respect of their
seniority, service, qualifications, PAR etc should be informed to all the officers appearing for
the promotion process.
IV) Circular to be issued detailing eligible officers in Normal & Fast track
V) Written test and assessment marks should be declared openly to all the vide Circular.
C. Promotional Avenues
I) All major centres to be under the charge of Executive Directors and other centres under
Chief General Managers.
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II) All the very large and large branches are to be headed by G Ms/DGMs irrespective of the
location of the branches.
III) All the other branches to be headed by AGMs having thorough knowledge of Banking.
IV) Departmental Heads at major centres be Chief General Managers/General Managers and
other centres General Managers/Deputy General Managers.
V) RTCs may be headed by General Managers.
VI) Promotional avenues should be created for specialist officers.
VII) Adequate promotional Avenues should be made available to officers in Grade ‘A’
promotee cadre by ensuring at least 50% of the vacancies in Grade ‘B’ onwards.
VIII) Time Bound promotion be extended to all minor categories of Officers of all grades on
completion of 5 years in a grade.
D. Other important demands:
I) Annual calendar of promotional processes be introduced and strictly adhered to.
II) Post of leave/trainee reserves be created at the rate of 20% of sanctioned
strength.
III) Officers should be given a pro forma Promotion on Supernumerary basis in next
Grade at least a year before retirement.
IV) Recruitment of 5,000 Clerks/award staff on urgent basis so that officers can be
utilized for higher roles of business development.
V) Present Group term insurance to be suitably enhanced to higher insurance
coverage of minimum Rs.75 lacs to Rs.100 lacs per officer.
VI) The anomaly aroused due to unilateral harmonization of pay structure in the year
2009 to be rectified and compensated during the current settlement.