DA chart for bank sub-staff (November 2023 to January 2024)
Consumer Price Index for July, August, and September 2023 are respectively- 139.70, 139.20, and 137.50. It works out to 693 slabs of DA payable to bank staff for the quarter of November 2023 to January 2024. Hence there will be an increase of 61 slabs in DA for the above period at 48.51% as per…
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Bank Special Pay-DA chart for November to January 2024
Consumer Price Index for July, August, and September 2023 are respectively- 139.70, 139.20, and 137.50. It works out to 693 slabs of DA payable to bank staff for the quarter of November 2023 to January 2024. Hence there will be an increase of 61 slabs in DA for the above period at 48.51% as per…
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Salient features of modified Bank Retirees’ group medical insurance policy for 2023-24
Salient features in the modified policy are as under 1. Top up and Super top-up is one and the same: 2. As per the expiring terms and conditions, domiciliary treatment will remain 10% of Base policy Sum Insured opted even for those who opted Single Person rate. 3. Domiciliary treatment is not covered under Top…
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Govt. clears 100 % Dearness Relief to pre- November 2002 Retirees effective October 2023
On Thursday (05.10.2023), DFS (Govt of India) cleared 100% D.R (Dearness Relief) to pre-1-11-2002 Retirees. It will be effective from 1st October 2023. No arrears shall be payable for the periods falling prior to the effective date. The 100% Dearness neutralization would benefit about 1,80,000 pensioners who retired from the Banks including from SBI prior…
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Outcome of Bipartite Talks UFBU had with IBA on 29-9-2023
The Negotiating Committee Meeting held on September 29, 2023, between the United Forum of Bank Unions and the Indian Banks Association discussed the following issues. Unions wanted to know the details of establishment expenses, number of employees and officers under OPS and NPS, stage-wise/area-wise number of employees, impact on cost of superannuation benefits, etc. They…
12th bipartite talks: IBA agrees for DA merger and medical insurance on retirees
Another round of meetings took place on Thursday between UFBU and IBA on wage negotiation under the 12th bipartite settlement. The following issues are discussed and agreed upon. 1. The proposed wage revision will be effective from 1st November, 2022. 2. The proposed Settlement would be for a period of 5 years up to Oct.…
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