“Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26 of 1881) read with the Notification of the Government of India, Ministry of Home Affairs No. 20/25/56/Pub-1 dated 8th June 1957, the Government of Goa in its Notification No.37/3/2024-GAD-III/4247 DATED 22.10.2024 declared bank holidays as provisions under section 25 of…
“Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26 of 1881) read with the Notification of the Government of India, Ministry of Home Affairs No. 20/25/56/Pub-1 dated 8th June 1957, the Government of Kerala are hereby pleased to declare that in addition to Sundays, expressly defined as Public Holidays…
Finance Minister Nirmala Sitharaman on Friday introduced in the Lok Sabha the Banking Laws (Amendment) Bill, 2024, which seeks the following changes in existing laws. “To improve bank governance and enhance investors’ protection, certain amendments to the Banking Regulation Act, the Banking Companies Act, and the Reserve Bank of India Act are proposed,” FM said…
In terms of clause 13 of the 9th Joint Note between IBA & Officer’s Association and clause 36 of the 12th Bipartite Settlement between IBA and Workmen Union, states regarding the payment of Ex-gratia for pensioners/family pensioners, who became eligible to draw a pension on or before 31.10.2022 including those who retired on 31.10.2022. Ex…
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…
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…
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,…
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…
RBI on Thursday (July 8, 2021) advised the updated instructions to implement a ‘Mandatory Leave’ policy for the employees posted in sensitive positions or areas of operation. The regulator also advised banks that RBI circular DBR.No.BP.BC.88/21.04.048/2014-15 dated April 23, 2015, has been repealed instead of updated instructions. “As a prudent operational risk management measure, the…