The banks in India including cooperative banks are required to transfer the credit balance in any type of deposit which have not been operated upon for 10 years or more by the depositor or any amount that is remaining in the bank unclaimed for 10 years or more, to the Depositor Education and Awareness (DEA)…
Key Benefits and New Leave Rules applicable to officers and employees are highlighted below. Metro Cities Metro Cities Major A class cities Area I other places Scale VI and VII 4050 2925 2475 2150 Scale IV and V 3375 2925 2475 2150 ScaleI, II and III 2925 2475 2150 1800 Advance notice of 10 days…
Employees (including permanent part-time employees) or Officers of the bank on maternity leave shall be entitled to full emoluments. Every female employee is eligible for Maternity leave on full substantive pay, not exceeding 6 months on any one occasion subject to a maximum of 12 months during the entire period of service. Maternity leave is…
Updated as per 12th BPS/9th Joint Note dated 08.03.2024 [This article elucidates a complete guide on Casual leave, Unavailed Casual leave, Special Casual leave rule and half days CL, and bereavement leave] The officers and award staff of the bank including permanent part-time employees are eligible for 12 days of casual leave in a year…
In the latest settlement under 12th BPS and 9th Joint Note agreements signed on March 08, 2024, between the Unions and IBA; partial changes are made to existing LFC/LTC rules. Accordingly, Leave Travel Concession (LTC) or Leave Fare Concession (LFC) facility shall be allowed for bank employees and officers are as under. For Workmen: The…
The officers and employees of the bank including permanent part-time employees are eligible for Privilege leave at the rate of one day for every 11 days of active service with the entitlement of full pay and all allowance as if he/she were on duty rules in Banks. While calculating credit of PL based on active…
Changes in leave rules for bank employees and Bank officers were updated in terms of the 12th BPS/9th Joint Note dated 08.03.2024 This post provides details of the eligibility of an employee or the officer for availing of casual leave, unavailed casual leave, special casual leave privilege leave, sick leave, additional sick leave, maternity leave,…
The government, on Friday, announced the interest rates for small savings schemes applicable for the quarter April 2024 to June 2024 quarter. All instruments of small savings schemes will continue to offer the same rate of interest as they did in January 2024 –April 2024. The rate of Interest chart for the quarter April 2024…
Leave of all kinds cannot be claimed as a matter of right. When the exigencies of service so require, discretion to refuse or revoke leave of any description is reserved to the authority granting it, and an employee already on leave may be recalled when considered necessary in the interests of the Bank. As per…
Sick leave and maternity leave rules are partially modified in Banks under BPS dated 12th BPS and 9th Joint Note dated March 8, 2024. Sick leave: In terms of earlier settlements, an employee is entitled to 30 days of sick leave on half substantive pay, for every year of service subject to a maximum of…