Leave Fare Concession (LFC) is the benefit provided to permanent employees of banks to travel with their family to any place in India or their place of domicile. The mode of transport and eligible distance to be covered according to the eligibility of the employee or officer. During each block of 4 years, an Officer…
On Tuesday (11th November 2020), the representatives of UFBU (workmen) and representatives of IBA have signed the 11th Bipartite settlements. They finalized the various pay-slip components of special pay for PQP, SWO, Special Assistant, Armed guard, Bill collector, Daftry, Head Peon, Electrician, AC Plant operator, Driver, Head Messenger (IOB) including eligible DA are provided in…
On Wednesday (11th November 2020), the representatives of UFBU (workmen) and representatives of IBA have signed the 11th Bipartite settlement. The finalized the various pay-slip components in their negotiation with Indian Banks Association are as under. The revised Basic salary for workmen as per 11th BPS is arrived by the merger of DA at 47.80% at…
On Wednesday (11th November 2020), the representatives of UFBU (workmen) and representatives of IBA have signed the 11th Bipartite settlement. They finalized the various pay-slip components in their negotiation with Indian Banks Association which are as under. The revised Basic salary for workmen is arrived by the merger of DA at 47.80% at the rate…
We have prepared the November 2020 pay-slip chart (shown below) for bank officers taking into following points in terms of 8th Joint note signed by representatives of officers associations and IBA representatives on 11.11.2020). OLD BASIC NEW BASIC (A) SPL All (B) Learning All ( C ) TOTAL (A+B+C) DA CCA HRA Total without…
The wage revision for public sector bank officers, and a few other old private sectors which took part in the bipartite wage revision process which has been pending since 2017, has been finalised and signed by the Indian Banks‘ Association (IBA) and Four officers associations. The Four officers’ unions All India Bank Officers’ Confederation (AIBOC),…
Today (11th November 2020), the representatives of UFBU signed 11 th Bipartite settlement. The finalized the various pay-slip components in their negotiation with Indian Banks Association are as under. The revised pay-slip of clerical staff worked out as under, Clerical: * Award Basic: (9 Stagnation increment, Uniform periodicity 2 yrs) 17900 – 1000/3 – 1230/3…
The Reserve Bank on Thursday came out with a Co-Lending Model (CLM) scheme under which banks can provide loans along with NBFCs (including HFCs) to priority sector borrowers based on a prior agreement. The arrangement entailed joint contribution of credit at the facility level by both the lenders as also sharing of risks and rewards.…
The loan and advances made by a bank shall be utilized for the recognized purpose and the fund is effectively recycled. As a business partner, your bank is also a stakeholder in the business performance of his borrower. This is because the investment made by the borrower through the bank finance shall bring income both…
Today (02.11.2020), RBI announced that banks may ensure compliance with the instructions contained in their Circular dated August 6, is extended up to December 15, 2020. In its circular of August 6, RBI said in respect of the opening of current accounts banks shall comply with all the instructions contained therein the circular. For existing…