Raise promoters’ stake in private banks: RBI’s internal working group
An Internal Working Group (IWG) of Reserve Bank of India suggested giving banking licences to large corporate or industrial houses after necessary amendments to the Banking Regulation Act, 1949. The committee was formed by the banking regulator in June to review extant ownership guidelines and corporate structure for Indian private sector banks. “The terms of…
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Bank LFC/LTC rules modified effective from 11th BPS
Leave Fare Concession (LFC) is the benefit provided to permanent employees of banks to travel with their family to any place in India or their place of domicile. The mode of transport and eligible distance to be covered according to the eligibility of the employee or officer. During each block of 4 years, an Officer…
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Bank Employees’Special Pay, PQP and other allowances as per 11th BPS
On Tuesday (11th November 2020), the representatives of UFBU (workmen) and representatives of IBA have signed the 11th Bipartite settlements. They finalized the various pay-slip components of special pay for PQP, SWO, Special Assistant, Armed guard, Bill collector, Daftry, Head Peon, Electrician, AC Plant operator, Driver, Head Messenger (IOB) including eligible DA are provided in…
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Bank Clerks’ revised salary for November 2020
On Wednesday (11th November 2020), the representatives of UFBU (workmen) and representatives of IBA have signed the 11th Bipartite settlement. The finalized the various pay-slip components in their negotiation with Indian Banks Association are as under. The revised Basic salary for workmen as per 11th BPS is arrived by the merger of DA at 47.80% at…
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Revised Salary of Bank Sub-staff for November 2020
On Wednesday (11th November 2020), the representatives of UFBU (workmen) and representatives of IBA have signed the 11th Bipartite settlement. They finalized the various pay-slip components in their negotiation with Indian Banks Association which are as under. The revised Basic salary for workmen is arrived by the merger of DA at 47.80% at the rate…
Bank Officers Revised Salary – Nov 2020
We have prepared the November 2020 pay-slip chart (shown below) for bank officers taking into following points in terms of 8th Joint note signed by representatives of officers associations and IBA representatives on 11.11.2020). OLD BASIC NEW BASIC (A) SPL All (B) Learning All ( C ) TOTAL (A+B+C) DA CCA HRA Total without…
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