Confirmed DA for bank Sub-staff for the Q August-October 2023
Consumer Price Index for April, May, and June 2023 are respectively- 134.20, 134.70, and 136.40. For Bank employees and officers, it works out to 632 slabs of DA for the quarter of August to October 2023. Hence there will be an increase of36slabs in DA for the above period at 44.24% DA chart BASIC NEW…
Read article
Confirmed DA chart for special pay of bank employees for the Q August-Oct 2023
Following is the DA chart for Special pay for the above period Designation (B) (C ) New DA old DA Difference Bill collector 590 97 303.82 286.52 17.31 Armed Guard. 590 97 303.82 282.67 21.15 Daftry 850 139 437.71 407.24 30.47 Head Peon 1120 184 576.75 536.59 40.15 Electrician 3090 507 1591.21 1480.43 110.78 AC…
Read article
Breaking: 100% DA neutralisation for Bank pensioners/family pensioners retired before 1st November 2002
Excerpts of minutes of understanding arrived at between IBA and UFBU during the meeting held in Mumbai on 28 July 2023 attached below. Where the Dearness Allowance Scheme is applicable to employees, officers, and retired up to 31st October 2002 was based on a tapering percentage formula and multiple slab systems and Where the Dearness…
Read article
Whether you can refuse to accept coins beyond a limit?
The coins issued by the Government of India under Section 6 of The Coinage Act, 2011, shall be legal tender in payment or on account provided that a coin has not been defaced and has not lost weight so as to be less than such weight as may be prescribed in its case. However, a…
Read article
What does it mean when you find Star (*) symbol in the number Panel of a Rupees Note?
The Reserve Bank of India adopted the “STAR series” numbering system for the replacement of defectively printed banknotes in a packet of 100 pieces of serially numbered banknotes. The Star series banknotes are exactly similar to the other banknotes, but have an additional character viz., a *(star) in the number panel in the space between…
Do you know this? Excess Interest collected by the banks by rounding off the applicable interest cannot be retained by the banks
The Hon’ble Supreme Court in its Judgment dated April 16, 2004, has ordered that excess interest collected by the banks from the borrowers through rounding off the applicable interest rate should be recovered from the banks and credited to a Trust to be created for the benefit of disadvantaged people. In the same judgment, the…
Read article