Key Benefits and New Leave Rules applicable to officers and employees are highlighted below.
- Special Allowance payable to officers Scale-I: @ 26.50%, Scale II & III: @28.30%, Scale IV & V: @ 30.50%, Scale VI & VII: @ 31.50%
- Deputation allowance: 7.75% maximum Rs.7500 per month.
- An officer deputed to another organisation in the same place or to the training establishment not owned by the bank:4% of pay, maximum of Rs.3750/ per month.
- Closing allowance payable from 01.04.2024:Rs.1500 per Quarter.
- Halting allowance:
| 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 |
- Compensation to Officers on transfer:
- As Compensation to officers on transfer, Rs 40000 is payable up to scale 3, and Rs 50000 to officers of Scale 4 and above. Besides, 15 days lodging and boarding charges or 15 days halting allowance shall be paid.
- Medical aid: JMG & MMG scales: 13000 p.a. and for SMG & TEG scales Rs.15400/-
- For the calendar year 2022 medical aid shall be paid for 2 months (November& December 2022).
- All employees will be reimbursed Rs.500 for annual eye checkups.
- One more increment is provided to all for passing CAIIB.
- Designation of employees revised
- SWO-A/SWO-B as Customer Service Associate
- Head Cashier as Senior CSA (Cash)
- Special Assistant as Special CSA
- All SWO- A will get SWO-B Allowance from 1-4-24
- All Bill Collectors will be upgraded as Daftary
- Sub-staff will be designated as Office Assistant
- Daftary as Senior Office Assistant
- Head Peon as Special Office Assistant
- Professional Qualification Pay increased to Rs. 820/ 1640/ 2460/ 3280/ 4100 for clerks
- Fixed Personal Pay increased – Clerical Rs. 3155. Increment component of FPP Rs. 2680 eligible for superannuation benefits.
- If an employee is transferred to another station, he can claim 150% of his entitled HRA on a declaration basis.
- Transport Allowance increased to Rs. 850 + DA per month
- Part-time employees eligible for pro-rata Transport Allowance
- Substaff passing JAIIB/CAIIB will continue to get additional increment/s like clerical staff
- PQP also introduced for Substaff – Rs.820/Rs.1640/Rs.2460
- Professional Qualification Pay increased to Rs. 820/ 1640/ 2460/ 3280/ 4100 for clerks
- Fixed Personal Pay increased – Clerical Rs. 3155, increment component of FPP Rs. 2680 eligible for superannuation benefits
- Fixed Personal Pay increased – Substaff Rs. 1585, increment component of FPP Rs. 1345 eligible for superannuation benefits.
- Clerical and subordinate staff shall draw eleven stagnation increments at the rate of Rs 2685 and Rs 1345 respectively.
- All SWO- A will get SWO-B Allowance from 1-4-24
- SWO A & B – Special Pay Rs. 1970 + DA from 1-4-2024
- Head Cashier – Special Pay Rs. 3050 + DA from 1-4-2024
- Special Assistant – Special Pay Rs. 4600 + DA from 1-4-2024
- Armed Guard Rs. 795 + DA from 1-11-2022
- Daftary Rs. 1145 + Da from 1-11-2022
- Head Peon Rs. 1505 + DA from 1-11-2022
- Driver Rs. 4825 + DA from 1-11-2022
- Entire Special Pay and PQP will be eligible for all superannuation benefits
- Special Allowance to clerical and sub-staff increased to 26.5% of Pay + DA
- Officiating Pay – payable if officiating is done for 4 days in a month.
- Officiating Pay – calculation formula improved to 15% of the Pay of the person officiating
- Halting Allowance/Diem Allowance – amounts increased – Clerks: Rs. 1500/1350/1000
- Halting Allowance/Diem Allowance – amounts increased – Substaff: Rs. 1100/900/600
- Rates for room rent/lodging improved upon: Clerks: 3000/2500/2000
- Rates for room rent/lodging improved upon Substaff: 1500/1250/1000
- While staying in a Lodge/Hotel, food expenses @ 35% of Diem Allowance
- For deputation from one branch to another Branch within the same station in population 12 lakhs and above cities – Diem Allowance is payable if the branch is 20 km away
- Breakage Allowance while shifting personal goods on transfer increased to Rs. 2000/1400 for clerks
- Breakage Allowance while shifting personal goods on transfer increased to Rs. 1400/100 for sub-staff
- Deputation Allowance (to another organisation): – outstation 7.75% Max. 3750 and within the station: 4% Max. 1750
- Hill and Fuel Allowance: Max. Increased to Rs. 2850, 1150 and 950
- The washing Allowance for sub staff increased by Rs. 300 pm
- Cycle/Two-wheeler Allowance increased to Rs. 150 pm
- Special Area Allowance increased from 1-11-2022
- Medical Aid to employees increased to Rs. 2830 per year
- Leave Bank scheme to be introduced
- Single male parents can avail of sick leave for the sickness of their child of up to 8 years
- Employees can avail sick leave for the sickness of their Special Child of 15 years and below for a maximum period of 10 days in a year
- Women employees shall be allowed to take one day of Sick Leave per month without the production of a medical certificate
- In case of employees of the age of 58 years and above, sick leave may be granted towards hospitalization of the spouse at a centre other than the place of work and for a maximum period of 30 days in a calendar year
- Employee shall be granted sick leave at the rate of one month for each year of service subject to a maximum of 720 days during the entire service
- In case of delivery of more than two children in one single delivery, Maternity Leave shall be granted for 12 months
- Bereavement leave is being introduced.
Advance notice of 10 days for availing privilege leave is waived for office bearers and Executive Committee members of a registered trade union.
Employees who are Defence Representatives in departmental enquiry proceedings may be granted one day of special leave to prepare the defence submissions of an employee. Such special leave shall be granted for a maximum of 10 occasions in a year.
Maternity Leave shall be granted once to a female employee for a maximum period of 9 months, for legally adopting a child who is below one year of age (even when a lady employee has one child)
Maternity Leave may be granted for In vitro fertility (IVF) treatment subject to the production of a medical certificate
2 days of Casual leave may be availed for half a day on 4 occasions in a year out of which 2 occasions would be in the morning and 2 occasions in the afternoon
Special maternity leave of up to 60 days shall be granted in case of stillborn or death of the infant within 28 days of birth
Annual Eye Checkup for all employees at Rs. 500 per year
All Banks will introduce the facility of a health checkup scheme for employees
Accumulated privilege leave may be encashed up to 255 days at the time of retirement/upon the death of an employee while in service
- LFC Clerks: 4700 km / 2350 km & Substaff: 5400 km/2700 km
- Reimbursement of fare by special trains like Rajdhani/ Shatabdi/ Tejas/ Vande Bharat/Amrit Bharat, etc. (except luxury trains) shall be allowed
- Where an employee has applied for LFC/leave as per stipulated time and the same is sanctioned and when booking of train tickets is not possible, tickets purchased under Tatkal/premium tatkal will be reimbursed
- Where an employee has applied for LFC/leave in advance and has also booked the tickets and the LFC is declined or deferred by the management, the cancellation charges will be reimbursed by the Bank
- While availing LFC, a break-in journey shall be permitted up to two times in the overall journey, and train fare incurred by the employee up to the entitled distance shall be reimbursed.
- LFC facility shall be allowed for an escort who accompanies an employee with benchmark disabilities
- Income criteria for dependents: Increased from Rs. 12,000 to Rs. 18,000 per month
- For the medical expenses reimbursement scheme, and Leave Fare Concession, for all employees, any two of the dependent, father, mother, father-in-law, and mother-in-law shall be covered. The employee will have the choice to substitute either of the dependents or both once in a calendar year
- Where an employee has to travel on duty between two places, he shall be reimbursed the actual cost in case of travel by public transport or at Rs.11/- per k.m. plus toll fees, if any, if traveled by own vehicle
- For LFC, if traveled by own vehicle, the employee shall be reimbursed a maximum of Rs.11/- per km., plus toll fees, if any, per vehicle, subject however, up to the maximum of train fare by the entitled class up to entitled distance.
- All Pensioners (1-1-1986 to 31-10-2022) will be paid additional monthly Ex gratia w.e.f. 1-11-2022. Arrears will be paid.
- The issue of exempting the additional 4% management contribution of PF for NPS employees from income tax recommended by IBA to the Government.
- For those who have retired after 1-11-2022 till the date of settlement, they have the option either to claim revised commutation or get a higher pension as per new pay scales
- Introduction of 5 days banking – recommended to Government
- Employees contribution to PF will go up
- Employees/Management’s contribution to NPS will go up
- Arrears of wage revision will be paid w.e.f. 1-11-2022
