FAQ

Stagnation Increments

1.  . Introduction of 9th Stagnation increment:    * one more stagnation is provided, after 2 years from getting 8th stagnation increment.     * Periodicity of all the stagnation increments are changed as 2 years uniformly.     * All stagnation increments earned earlier will be reworked as on 01.11.2017 and fixed         notionally. Financial benefit will be given from 01.11.2020 2. Advancement of  6th  Stagnation Increment by one year: * This benefit is not applicable to those who retired from 01.11.2012 to 25.05.2015     *By advancing the date of 6th increment by one year, or up to 01.11.2012 whichever is later,  7th and 8th stagnation increments will also be rescheduled notionally for those who are in service after 25.05.2015. Example: 1. For employee whose date of sanction of 6th increment is Jan 2014 ,     Will be advanced to Jan 2013 2.  For employee whose date of sanction of 6th increment is Jan 2013     Will be advanced to Nov 2012 and not before. 3. For those who received 6th stagnation Increment before Nov 2012,    there will be no change. * There will be no arrears payment out of above reschedule of stagnation increment Upto 25.05.2015. *Monetary benefit will be effective from 25.05.2015 only 3. Introduction of 8th Stagnation increment: *This benefit is not applicable to those who retired from 01.11.2012 to 25.05.2015 *Those who are in service and are waiting for more than two years after 7thstagnation   including those who are notionally sanctioned due to reschedule of 6thStagnation  Increment,  will be given 8th stagnation Increment. *There will be no arrears payment out of above sanction  of 8th stagnation increment   Upto 25.05.2015. *Monetary benefit will be effective from 25.05.2015 only

JAIIB/CAIIB

For those who pass JAIIB or CAIIB after 19th or 20th stage of scale of pay:  *Case 1: When an employee passes JAIIB/CAIIB after reaching 20th stage, as there are or no increments left in the scale of Pay, One/Two PQP is sanctioned.   * Case 2: If an employee in 19th stage passes CAIIB, he will be sanctioned one increment and one PQP. New Provision:    * Employees who acquires such qualification after reaching    the 19th or 20th stagnation, their next immediate stagnation increment may be      advanced accordingly by one/two years as the case maybe, w.e.f. 1.11.2012 or the actual date of such advancement whichever is later. i.e Stagnation Increment due after passing Graduation/JAIIB/CAIIB for those employees on after 01.11.2012 will be advanced by one year or two year as the case may, upto 01.11.2012 or the actual date whichever later. Example: 1. For employee whose date of next stagnation increment is Jan 2014 , Will be advanced to Jan 2013. 2.  For employee whose next stagnation increment is Jan 2013 Will be advanced to Nov 2012 and not before. *There will be no arrears payment out of above advancement of stagnation increment Upto 25.05.2015. *Monetary benefit will be effective from 25.05.2015 only. Note: When an employee acquire JAIIB/CAIIB qualification while working in other Institutions, and Joining the Present Bank later on, Benefit of advance increment for the above qualification is not sanctioned. Though it is not logically correct, this is the present position.

Dearness Allowance
Explained in D.A.History head.

Professional Qualification  Pay
*For those who earned advance increments for Gratuation (2), JAIIB (1), CAIIB    (2), Professional Qualification Pay is sanctioned after they reach 20th Increment in the Scale of Pay. *It will be sanctioned one year after reaching 20th stage, and thereafter with a gap of one year. *Number of P.Q.Ps will be equal to number of advance increments earned.

Fixed Permanent Pay
*F.P.P is payable one year after reaching 20th stage of Scale of Pay. *Applicable to those employees in service before 01.11.1193

Special Allowance
*Eligible for D.A. and not for H.R.A & P.F./NPS contribution. *Will be eligible for P.L. encashment at the time of availing LFC and on retirement. *Will not be considered for Pension and Gratuity on retirement.

Single Window Operator

Present position: *This allowance is given to only those who are working in cash related counter, with passing powers. *No allowance is given to those who are working in non-cash counters, even though they are having passing power in transfer transaction. *In 9th settlement it is stated that those who were drawing allowance for non-cash counters (Rs.910) will get Rs. 500(now Rs820) from 01.05.2010. *This was confirmed by AIBEA Circular Letter No. 26/50/2010/11 dt.05.04.2010 *But, Banks are not implementing it. AIBEA also does not take the matter seriously. *At least AIBEA withdraw this circular.

Leave Fare Concession

*100% of entitlement will be allowed to encash. *With effect from 01.06.2015, employees may be allowed the facility of encashing of Leave Fare Concession without the requirement of availing Leave for this purpose.   * Employee can encash 30 days of Privilege Leave , in total, in a block of 4 years.      He can either encash 15 days each in each Block of 2 years or     30 days in one block of  2  years. *While applying for LFC , a self declaration for dependents with details of Name, Age, Relationship, Income etc., should be given.

Definition of Family for LFC and Medical Insurance Policy

*Employee + Spouse + Dependent Children + 2 dependent Parents /parents-in-law.              * No age limit for dependent children.             (including step children and legally adopted children )               *A child would be considered dependent if their monthly income does not   exceed Rs. 12,000/- per month. *Widowed Daughter and dependant divorced / separated daughters *Sisters including unmarried / divorced / abandoned or separated from   husband /widowed sisters and                *Crippled Child shall be considered as dependent for the purpose of this policy. *Physically challenged Brother / Sister with 40% or more disability. *No Age Limits for Dependent Parents. *Either Dependent Parents or parents-In-law will be covered. *Parents would be considered dependent if their monthly income does not   exceed Rs.  12,000/- per month.

Encashment of Privilege Leave and Income Tax

* While availing LFC  employee can encash Previlege Leave for max.30 days. * from 01.11.2020 employees can encash 5/7 days of P.L. every year depending on age. * The amount so encashed will be taken as Income for the particular Financial Year and taxed accordingly. * While on Retirement employee can encash the Privilege Leave at his credit with the maximum of 240 days. * The extent of exemption of Leave Encashment at the time of retirement on superannuation or otherwise would be the least of the following: i) Cash equivalent of leave salary in respect of the period of earned leave at the credit of the employee not exceeding 10 months calculated at ten months’ average salary (Basic+DA+Other components ranking for PF) ii) Leave encashment actually received.(subject to a maximum of 8 months pay)         iii) Rs. 3,00,000

Halting Allowance/ Batta/ T.A
*Halting Allowance / Batta: Those who report for duty directly at the Staff Training College on receipt of appointment orders are not entitled to claim any T.A. from their place of residence to Staff College centre.  *However, on conclusion of the course, they are entitled to claim T.A. from the training centre to the places of posting as per their eligibility, if they are posted to outstations.   *Halting Allowance is payable for the period commencing from the time of departure to the place of deputation till the employee’s return to his Head quarters.  *For every 24 hours or part thereof one day Halting Allowance is payable. *Whenever an Award Staff member is deputed from one branch/office to another at the instance of the Management, in the same city, he/she will be reimbursed actual bus/local train fare incurred by him/her for the actual number of working days.  *Local conveyance charges payable on account of regular journeys such as cash remittance, attending to clearing house, etc., should be fixed by branches, after getting permission from the Regional/Circle Office concerned.  *For deputation to branches within the same area classification, no Halting Allowance will be given.  *Staff members who are deputed to RBI / SBI / Currency Chests for Cash remittance are eligible to claim TA and batta (Halting Allowance) as per the norms applicable for other travels on duty.  *Where the work (like Cash remittance/Recovery of Loan etc.,) entrusted to a workman is such that it does not involve night stay and enables him to return to headquarters the same day, he shall be entitled to batta at one-half the rates set out as applicable to him.  *Provided, however, that where the period between the time when a workman commences work on that day and the time at which he returns to his place or work from outstation duty exceeds his normal working hours plus recess interval, full halting allowance applicable to him shall be paid. In such cases, the workman concerned shall not be entitled to any overtime allowance.  *Drivers required to drive the vehicle on outstation duty shall be paid overtime wages for the period of actual driving beyond normal working hours in addition to batta at the rates payable to them.  *No halting Allowance shall be paid for the period of leave availed by the employee after coming to the place of deputation and the period of overstay at his/her own convenience.  However, eligible Travelling Allowance shall be paid for his/her return journey. But if he/she suffers from illness, the matter shall be referred with full particulars to the Circle Office to get the sanction for allowing batta during the sick leave.  *Halting allowance is payable, in addition to Train, Bus fare actually incurred. *Reimbursement of Porterage /Coolie charges may also be reimbursed only in trips connected with the outstation journeys where overnight travel is involved at the place of deputation/training  *An employee on transfer shall be paid the cost actually incurred for transporting his personal things by road or rail.