Modified LFC/LTC rules for bankers under 12th BPS/ 9th Joint Note
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…
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Privilege Leave (PL) rules for bank employees/officers under 12th BPS/9th Joint Note
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…
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Leave rules for Bank Staff under latest settlement
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,…
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Govt announces Interest rate for small savings scheme applicable for the quarterApril 2024-June 2024
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…
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When can a bank refuse to leave or recall an employee from leave?
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…
Latest Sick leave and maternity leave rules in Banks
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…
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