Saturday, March 29, 2014

AIBOC circular on Tax collection!

AIBOA circular on  tax collection on holidays:

IBA:BKS:40:2014                                                                                      March 29, 2014

The Chairman
Indian Banks Association
World Trade Centre
Cuffe Parade, 6th Floor
MUMBAI-400 005


REG:  Special Tax collection drive by Government of India through Banks
            Rationalisation of the compensation

We have on our hand the RBI circular RBI/2013-14/535 dated 26.03.2014 addressed to all Chairman and Managing Director of all agency Banks to keep select branches open as a regular working day for transacting Government business at key locations based on the volume of transactions upto 08.00 pm on 29th to 31st March 2014, where 31st March 2014 has not been declared as a Public holiday.

2.         However, RBI, vide its circular DPSS[CHE]/1446/01.02.003/2013-14 dated 28th March 2014 addressed to Officer In-charge, Clearing operation of Banker’s clearing House at Chennai [BCHC] to conduct the special clearing at all clearing houses across the country on 29th to 31st March, 2014 which are as follows.

Presentation clearing
Return clearing

20.00 to 21.00 hrs
22.30 to 23.00 hrs

Combined clearing of Normal and special clearing
21.00 to 22.00 hrs

17.00 to 18.30 hrs
20.30 to 21.00 hrs

Combined clearing of normal and special clearing
19.30 hrs to 20.00 hrs

20.00 to 21.00 hrs
22.30 and 23.00 hrs

Combined clearing of normal and special clearing
21.30 to 22.00 hrs

In effect, even in the select branches, officers are to remain till the fate of the return clearing is known [ie;] minimum upto midnight on 29.03.2014 and 31.03.2014 and on 30.03.3014 upto 22.00 hrs.

3.         We have demanded that officers working in the select branches are to be granted compensatory off coupled with monetary compensation which should not be less than the overtime wages payable to workmen employees.

4.         Bank of India, State Bank of India, Central Bank of India, Canara Bank and Vijaya Bank are considering compensatory off + compensation in various stages with a maximum of Rs.2500/- per day.

5.         As the officers are to work beyond 6-1/2 hrs on 29th, 30th and 31st March, 2014, they should be compensated for two days for each day of work in addition and Rs.2500/- as a compensation per day may please be considered.  The rationalisation of the facilities need to be addressed immediately and on priority basis.  Pending finalisation of rationalisation, we request you to communicate to all Banks to effect the package of compensatory off + Rs.2500/- per day compensation to officers.

Yours faithfully,


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