AIBEA - Nationwide Strike on Sep 2, 2015

Master mediclaim policy for bank employees to be issued through IBA by month-end

Master mediclaim policy for bank employees to be issued through IBA by month-end

All state-run general insurers are likely to issue a master mediclaim policy for bank employees through Indian Banks Association (IBA) by this month end. As per the new wage agreement reached between bank unions and the IBA on May 25, employees of all the 43 member banks are to be provided with a health insurance cover by their respective banks.
"Our discussions are on with the IBA on the health insurance cover for bank employees as part of the wage pact," New India Assurance chairman and managing director and chairman of General Insurers (Public Sector) Association ( GIPSA) chairman G Srinivasan told PTI. However, he refused more details saying "things are still on the drawing board."  "This is for the first time a proper health insurance policy is being worked out by banks for their employees,"

CIRCULAR ON 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

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%

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.