July 31, 2015
DEARNESS ALLOWANCE (DA) SLABS PAYABLE FOR THE PERIOD OF AUG'15 TO OCT'15
DEARNESS ALLOWANCE (DA) SLABS PAYABLE FOR THE PERIOD OF AUG'15 TO OCT'15
Today i.e. on 31.07.2015, Government announced Consumer Price Index (CPI) data for the month of June'15. On the basis of CPI data announced by the Govt for the month of April, May & June 2015, as tabled below, the Dearness Allowance (DA) payable for the period of Aug'15 to Oct'15 is an increase of 27 DA Slabs.
In case of DA calculated on revised Pay:-
DA Calculation - For Revised Pay be used the percentage of increase in DA is 2.70% for the month of Aug - Oct 2015 and total revised DA slabs is 364 Slabs and total percentage of DA payable on Revised Pay is 36.40%
In case of DA calculated on Pre revised Pay:- -
DA Calculation - For Pre-revised Pay be used the percentage of increase in DA is 4.05% for the month of Aug - Oct 2015 and total revised DA slabs is 765 Slabs and total percentage of DA payable on pre-revised pay is 114.75%
July 28, 2015
X BP SETTLEMENT – CLARIFICATIONS IBA
X BP SETTLEMENT – CLARIFICATIONS
IBA CIRCULAR:
HR & Industrial Relations
July 25, 2015
No.CIR/HR&IR/2015-16/XBPS/1120
Designated Officers of Member Banks which are parties to the BPS
Dear Sir/Madam,
X BP SETTLEMENT – CLARIFICATIONS
1. Paternity Leave:
Clause 32 of the X Bipartite Settlement provides the benefit of Paternity Leave w.e.f.
1.6.2015 to male employees with less than two surviving children for 15 days during his
wife’s confinement and may be combined with any other kind of leave except Casual Leave.
The leave may be availed upto 15 days before or upto 6 months from the date of delivery of
the child.
Clarifications: The leave may be granted to an employee even where the date of delivery of
the child was prior to 1.6.2015, provided, however, that the leave is availed within six
months from the date of delivery. Further, the leave shall be sanctioned 15 days before the
delivery or up to 6 months after the delivery.
2. Leave Fare Concession:
Clause 19 (iv) of IX Bipartite Settlement dated 27.4.2010 provided that an employee
encashing the facility of Leave Fare Concession shall proceed on leave for a minimum period
of one day.
Clarifications: Clause 19 (iv) of X Bipartite Settlement dated 25.5.2015 does not have this
provision and hence with effect from 1.6.2015, employees may be allowed the facility of
encashing of Leave Fare Concession without the requirement of availing Leave for this
purpose.
3. Treatment of Special Allowance for fixation of Pay for Ex-Servicemen re-employed in Banks:
Under Clause 9 of the X BPS, Special Allowance at the rate of 7.75% of the Basic Pay with
applicable DA thereon will be paid w.e.f. 1.11.2012.
Clarification: Queries have been received as to whether the same is to be reckoned for the
purpose of encashment of PL on LFC/retirement, Overtime, and while pay fixation of Exservicemen joined the service of the Banks on or after 1.11.2012.
It is clarified that the Special Allowance is to be reckoned at the time of
PL encashment on LFC/retirement,
the same shall not be reckoned for the purpose of fixation of pay of Ex-servicemen who are remployed in Banks on or after 1.11.2012.
4. Adjustment/advancement of stagnation increment to employees who acquire JAIIB/
CAIIB/ Graduation
Clause 11 of X BPS dated 25.5.2015 provides that in case where the non-subordinate
employees as on the date of this Settlement, has already acquired JAIIB (Part-I) or CAIIB
(Part-II)/ Graduation after reaching maximum of the scale of Pay (in case of JAIIB/ CAIIB/
Graduation) or after reaching 19TH stage of scale of Pay (in case of CAIIB/Graduation), and
has not earned increment(s), otherwise entitled on account of acquiring such qualification,
when there were no increments to provide in the scale of pay of those employees, the
stagnation increment in such cases may be advanced by one year or two years as the case
may be.
Clarification: Non-subordinate employees who acquires such qualification after reaching
the 19th or 20th stagnation, their next immediate stagnation increment may be advanced
accordingly by one/two years as the case maybe, w.e.f. 1.11.2012 or the actual date of such
advancement whichever is later.
July 22, 2015
2nd & 4th Saturday off in Bank - Finance Ministry may send the notification for publication in the gazette any time
2nd & 4th Saturday off in Bank
Saturday half-day has been an integral
feature of Indian Banking Industry for more
than 150 years. A change in this is not a
small thing. Saturday holiday involves a lot of
procedure, legal formalities, RBI and
government approval etc, followed by gazette
notification, RBI notice to Payment &
Settlements System etc. Although the
agreement is between IBA and 11 Unions,
involving 43 Banks, the holiday is a
permanent one for the entire industry
including co-op Banks, NEFT/ RTGS etc.
Now the matter is in the final stage. The
Finance Ministry may send the notification for
publication in the gazette any time. The exact
date of implementation will be published in
the notification.
DA for Bank Employees DA FOR AUGUST 2015
CPI (IW) for May 2015 released. Its an increase of 2 points again. Index is at 258. Waiting for final month. Even if 258 is continued for next month we will have an increase of 21 slabs or 2.1% of our new basic + Special pay as increase. In case of old salaries it will be an increase of 3.15%.
Old basic of P O ( 14500 ) DA increase would be Rs.456/-
New basic of P O ( 23700+1836 ) DA increase is Rs. 536/-
July 12, 2015
July 10, 2015
July 8, 2015
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Paytm to invest Rs 640 crore to help sellers go online
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Government appoints Sriram Kalyanaraman as the next housing finance sector regulator
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