64

SCALE OF PAY AND INCREMENT

STAGE CLERKS w . e . f . SUB-STAFF w.e.f.

01.05.2010 01.05.2010

Rs. Rs.

1 7200 5850

2 7600 6050

3 8000 6250

4 8400 6450

5 8900 6650

6 9400 6900

7 9900 7150

8 10500 7400

9 11100 7650

10 11700 7900

11 12300 8200

12 13000 8500

13 13700 8800

14 14400 9100

15 15100 9450

16 15800 9800

17 16500 10150

18 17200 10550

19 18500 10950

20 19300 11350

STAGNATION INCREMENTS

21 20100 11750

22 20900 12150

23 21700 12550

24 22500 12950

25 23300 13350

26 24100 13750

27 24900 14150

The clerical and subordinate staff on reaching the maximum in their respective

scales of pay, shall draw 7(seven) stagnation increments at frequencies of 3 years

and 2 years respectively from the dates of reaching the maximum of the scales, except

that seventh stagnation increment in clerical cadre will be released after two years of

receiving the sixth stagnation increment.

65

SPECIAL PAY FOR CLERKS

SL.No. POST SPECIAL PAY w.e.f. 01.05.2010

Rs.

1 Single Window Opeartor -B 500

2 Head Cashier - II 780

3 Special Assistant 1180

SPECIAL PAY FOR SUB-STAFFS w.e.f.01.05.2010

POST SPECIAL PAY

Relieving Liftman 0

Cyclostyle Machine Operator 0

Cash Peon 0

Liftman 0

Watchman 0

Bill Collector 240

Armed Guard 240

Daftary 340

Head Peon 450

Head Messenger in IOB 1000

Electrician 1250

A/C Plant Helper 1250

Driver 1450

66

Fixed Personal Pay:

CLERICAL STAFF

AREA OF Total FPP Payable Increment

POSTING Where bank’s Component

Accommodation is of FPP

NOT PROVIDED PROVIDED

(1) (2) (3) (4)

Places with population 940 860 800

of more than 45 lakh

including Project Area

Centre “ A”

Population of 12 lakh 930 860 800

and above Including

GOA

Population of 5 lakh 920 860 800

and above, State

Capital and Capitals

of union Territories

and other than place

mention in(1)and (2)

including Project Area

Centre “ B”

Population below 915 860 800

5 lakh not covered in

(1) (2) and (3)

67

SUBORDINATE STAFF

Places with 470 430 400

Population of more

than 45 lakh

including Project

area centre “A”

Population of 12 lakh 465 430 400

and above Including

GOA

Population of 5 lakh 460 430 400

and above, State

Capital and Capitals

of union Territories

and other than place

mention in(1)and (2)

including Project

Area Centre “ B”

Population below 460 430 400

5 lakh not covered in

(1) (2) and (3)

This is payable one year after reaching Maximum scale. There shall not be shifting

in the date/s of release of Graduation pay/PQP on a/c of FPP in the same year.

W.E.F. 01.11.07

Payment of Fixed Personal Pay on promotion from one Cadre to a higher cadre

or from one scale to a higher scale.

TEXT OF IBA’S LETTER

QUOTE “Please refer to our Circular No.CIR/PD/GSN/G2/76/1663 dated

29.10.2007 by which we clarified the payment of Fixed Personal Pay that when an

employee is promoted to a next higher Cadre / Scale after drawing FPP in the lower

cadre / scale, then he would continue to get the same amount of FPP in the promoted

scale (except when FPP is changed on salary revision) till such time he reaches the

maximum in the promoted cadre / scale. On completion of stipulated one year at the

maximum of the promoted cadre / scale, he shall be sanctioned FPP as applicable to

the higher cadre / scale in which he is placed.” UNQUOTE

(Ref. No. IBA’s letter No.CIR/PD/GSN/G2/76/1663 dated 29.10.2007)

68

Professional Qualification Pay :

Those who are graduate/NDC and have passed JAIIB or both parts of CAIB/CAIIB, will

get PQP on reaching maximum scale of pay. (W.e.f. 01.11.2007)

Rs. 250 /- After they complete 1 year

Rs. 490 /- After they complete 2 years

Rs. 740 /- After they complete 3 years

Rs. 990 /- After they complete 4 years

Rs. 1230 /- After they complete 5 years

In reiteration of sub-clause (2) of clause 11 of the Bipartite Settlement dated 2nd

June 2005, a member of the non-subordinate cadre acquiring a Graduate/National

Diploma in Commerce or a JAIIB/CAIIB (either or both parts) qualification/s at a time

when he/she does not have the requisite number of increments in the scale to be

earned as advance increments shall in the first instance be released increments for

such qualification/s acquired to the extent available in the scale and in lieu of the

remaining increments(s) not available for being so released as advance increments

be granted / released the first installment of Graduation Pay or PQP, as the case may

be. Release of subsequent installments of Graduation Pay or PQP shall be with

reference to the date of release of Graduation Pay or PQP under this clause.

Provided that in the case of an employee acquiring such qualifications after reaching

the maximum of the scale of pay, he shall be granted from the date of acquiring such

qualification the first installment of Graduation Pay or PQP, as the case may be and

the release of subsequent installments of Graduation Pay or PQP shall be with reference

to the date of release of Graduation Pay or PQP under this clause.

Provided further that in a case where the employee as on 27th April 2010, has

already acquired any of the said qualifications and has not earned any increment or

Graduation Pay / Professional Qualification Pay on account of acquiring such

qualification, he may be, with effect from 1st November 2007 or the date of acquiring

any of the said qualifications, whichever is later, released increment/s or Graduation

Pay / PQP as provided herein above.

Graduation Pay/ Additional increment for Direct Post Graduation:

In partial modification of Clause 34 of Bipartite Settlement dated 2nd June 2005,

while non-subordinate employees who acquire graduation qualification from

Universities/Open Universities which are recognized by University Grants Commission

will be eligible for being granted two additional increments for graduation/graduation pay as

the case may be, those who acquire post graduate qualification without being a graduate will

be granted two additional increments for graduation/graduation pay as the case may be

subject to the following conditions:

Employees who are registered under the Post Graduation courses of Open

University have either passed the foundation/entrance course or attended the Bachelor’s

preparatory Programme; and they pursue the same course and take the same examination

as the formal stream students.

DEARNESS ALLOWANCE

Under 9th Bipartite Settlement dated 27-4-2010, DA is payable on quarterly average

of Consumer Price Index and is paid for every rise or fall of 4 Points over 2836 Points of

1960=100 Index figures. From 8th Bipartite Settlement, DA is being paid with 100% of

neutralization as against earlier tapering basis. Now DA is paid on uniform percentage for

entire Pay.

As per 9th Bipartite Settlement, over 2836 Points for entire Pay @ 0.15% for both

Clerk & Sub-Staff.

TRANSPORT ALLOWANCE :

Upto 15th Stage of the Scale of Pay Rs. 225/- per month

16th Stage of the Scale of Pay and above Rs. 275/- per month

WASHING ALLOWANCE : Rs. 100/- p.m.

CYCLE ALLOWANCE : Rs. 75/- per month to the members of Sub-staff who are required

to use a cycle on regular assignment for outdoor duties. Cycle allowance would not be paid

to a workmen member of the subordinate staff entitled to the allowance for the period of

leave where such leave exceeds 30 days.

Split Duty Allowances : Rs. 125/- per month at all centre, w.e.f. 01.11.2007. At branches

where business hours are split with a minimum break of two hours, all full time workmen

(excluding) (a) watch and ward staff, (b) sweepers (c) those who reside in the premises of

such branch, and (d) any workmen whose hours of work, apart from normal lunch recess,

are not split.

72

HOUSE RENT ALLOWANCE:

A new HRA Centre with population of 45 lacs and above is added as Mega Centre.

Centres covered are Mumbai, Delhi, Kolkatta, Chennai, Bangalore, Hyderabad and

Ahmedabad.

(i) Places with Population of more than 45 lacs and above 10.00 %

(ii) Places with Population of more than 12 lacs to 45 lacs 9.00 %

(iii) Places with Population of more than 2 lacs to 12 lacs 7.50 %

(iv) Places with Population below 5 lacs not covered in (i), (ii) and

(iii) above 7.00 %

Project Area HRA : It hs been clarified therein that Project Area HRA shall be payable

as under w.e.f. 1-11-2007:

Project Areas – Group ‘A’ Centres 10 %

Project Areas – Group ‘B’ Centres 9 %

IBA Circular No.- No.CIR / HR&IR/76/90/665/2010-11/425 dated June 2, 2010

Reimbursement of HRA when spouse is provided residence : An award staff

employee whose spouse has been provided with residence by the bank, may be paid

HRA in terms of the provision of Bipartite Settlement. (Reference No.- IBA Circular

No.-PD/CIR/76/E(iv)/850 dated 10.08.1990)

PROJECT AREA ALLOWANCE

PROJECT AREA CLERK SUB-STAFF

A Rs. 205/- p.m. Rs.180/- p.m.

B Rs.180/- p.m. Rs.150/- p.m

73

HOURS OF WORK (14.2 of First Bipartite Settlement dated 19.10.1966)

WEEK DAYS SATURDAYS

HOURS PER DAY

Workmen other than members a 6.30 4

of the subordinate staff

(excluding category (b) below

Godown – keepers engaged solely for 8 8

that work other than those required to

remain in attendance at the bank during

office hours

Members of the subordinate staff other 7 4.30

than Drivers and Watch and Ward Staff

Drivers 7.30 5

OVERTIME (14.14 of First Bipartite Settlement dated 19.10.1966)

Workmen other than members of Subordinate Staff : (% of hourly emoluments)

Week days (excluding Saturday (excluding

Saturdays & holidays) holidays)

First two quarter hours @100 @100

of overtime work

Next four quarter hours of @170 @170

overtime work

Next four quarter hours of @200 @170

overtime work

Rest of Overtime work @200 @200

Subordinate Staff

First four quarter hours

of overtime work @150 @150

Next four quarter hours of

overtime work @200 @170

Rest of the overtime work @200 @170

74

For the work done on Sunday or any other weekly off day and holidays, to which

he may be entitled, a workman (including a peon who is asked to work as a watchman

on such days) will be paid for the entire period of work at 200% of his hourly emoluments,

unless any such day happens to be a working day for him.

For the purpose of calculating the amount payable for overtime work:

Work done for less than one full quarter of an hour shall be deemed to be work

done for quarter of an hour.

The Expression “Emoluments” shall means aggregate of Basic Pay, special

allowance/pay(if any), officiating pay(if any) and Dearness allowance. Every month

shall be deemed to consist of 150 working hours so that the monthly emoluments

payable per hour will be deemed to be 1/150th of the monthly emoluments for the

workmen.

Halting Allowance :

A B C

Places with population Places with population Other

12 lakhs & above and of 5 lakhs and above, Places

State of Goa State Capita / Capitals

of Union Territories not

covered in A

Clerical Rs.500/- per diem Rs.375/-per diem Rs.300/-per diem

Subordinate Rs.375/- per diem Rs.250/- per diem Rs.185/-per diem

Leave Fare Concession:

Entitlement:

Entitlement Clerk Subordinate Staff

2 years Span 2000 km 2500 km

4 years span 4000 km 5000 km

Permissible Class of travel AC II Tier AC III Tier

75

General:

Travel by any approved mode of transport including Taxi will be permitted. For the

purpose of this sub-clause, travel by any approved mode of surface transport would

mean such travel undertaken through any public transport or transport (including taxi)

operated by agencies / tour operators approved by appropriate Government authorities

or motorcar owned by the employee with permission of the Bank.

Another option is given to choose between 2/4 years block. Such option will be

effective From the expiry date of the current operative block

For encashment of LFC entitlement, they should proceed on any type of leave for

a minimum 1 day.

Local conveyance (to and fro from residence to Rly/bus stand and as also similar

expenses at the place of destination shall be reimbursed within the overall entitlement.

Reservation & berth charges, surcharge etc. of railway fare can be reimbursed

over and above entitlement.

An option for encashment of LFC will be given to all employees. And amount

equilent to 75 % of the entitlement will be paid. The facility of encashment of P.L. is also

available while encashing the facility of LFC.

Whenever the LFC is desired to be encashed by a staff member and the family of

the said staff member comprises of children below the age of 12 years or elders with

the age of 60 years and above, while calculating eligible fare, fare should be taken as

NIL for children below 5 years, at the rate of 50 % for the children between 5-12 years

and only 70 % of the fare for elders with age of 60 years and above for MEN and

58 years and above for Women. (H:P/IR/RS/I-1293 Dt. 01.12.05)

Permanent part time employee drawing scale wage shall be eligible for LFC and

encashment on pro rata basis.

LFC may be availed by family members for travel without attendance of workman.

The workman and/or members of his family may visit the same place or different

places of their choice within permissible distance.

If an employee’s spouse is working in the same bank, only one of them will be

eligible for LFC in a block period. Both are entitled for encashment of P.L.

Physically handicapped employee appointed under such category and who is

eligible for payment of conveyance allowance is eligible for accompanying companion.

Provided, he has no family member to claim the LFC.

76

Woman employee can claim for either of parent/parents in law and not both. Wholly

dependent’s aggregate income should exceed Rs. 3500/- p.m.

LFC may be availed of by the workman’s family for travel prior to or after the date

on which the workman himself avails of LFC: provided that period between the date of

commencement of journey by the family and date on which the workman himself

commences his journey does not exceed four months.

Salary in advance can be paid, if falls within the leave period.

Where an employee has to travel on duty / LFC between two places he shall be

reimbursed actual road mileage cost or at Rs.3/- per k.m., whichever is less.

Encashment of LTC/LFC Facility:

On opting to encash the facility, he will be entitled to receive a lump sum equivalent

to 75% of notional train fare for the admissible distance (depending on a 2 year or 4

year block) by the entitled class, subject to deduction of admissible tax at source.

Leave Fare Concession for travel to place of domicile is not encashable. An employee

opting to encash his LFC shall prefer the claim for himself and his family members

only once during the block / term in which such encashment is availed of. The facility

of encashment of privilege leave while availing of Leave Fare Concession is also available

while encashing the facility of LFC.

It is clarified that for the purpose of encashment of LTC/LFC facility in respect of

senior citizen dependent family member, the Train Fare as applicable to senior citizen

only should be reckoned and NOT the Train Fare (normal fare) as applicable to non

senior citizen.

(Application Format - Please see Annexure-2)

Ref (Branch Circular No. : 100/4 dated: 08.04.2006)

(IBA Circular Dt. 16.04.85)

Peak season fare and lean season fare.

Peak Season : April to July & September to January

Lean Season : February, March and August

Encashment of Leave Fare Concession

In terms of Bipartite Settlement dated 27.4.2010 Award Staff can either undertake

travel availing leave fare concession and claim reimbursement upto his entitlement or

to encash the facility for the concerned block. On opting to encash the facility, he

77

will be entitled to receive a lumpsum equivalent to 75% of notional train fare

for the admissible distance (depending on a 2 year block or 4 year block) by the

entitled class, subject to deduction of admissible tax at source. This provision is also

available to Officer employees also in terms of Joint Note dated 27.4.2010.

2. The Railways are charging two types of fares – one for peak season (other

than February, March and August) which is higher than the lean season fare. IBA

has been receiving queries as to which of the two be considered for encashment

facility.

3. The IBA Standing Committee on HR had discussed the issue in its meeting

held on 29.11.2012 and viewed that for encashment of LFC, banks may consider the

applicable railway fare during the month of encashment. The Managing Committee

at its meeting held on 30.11.2012 has endorsed the views of the HR Committee.

Banks may please be guided as above.

(Ref. No.- IBA Letter No.- No.CIR/HR&IR/2012-13/F/6337 dated December 3, 2012)

Definition of Family:

FOR LEAVE FARE CONCESSION AND MEDICAL FACILITIES 18/ 27.04.2010

“Family” of an employee shall mean the employee’s spouse, wholly dependent

unmarried children (including step children and legally adopted children), wholly

dependent physically challenged brother / sister with 40% or more disability, as also

parents ordinarily residing with and wholly dependent on the employee.

The Term “Wholly dependent child/parent” shall mean such member of the family

having Monthly income not exceeding Rs. 3500/- P.M.

a. In substitution of Clause 18 of the Bipartite Settlement dated 2nd June 2005,

for the purpose of medical facilities and for the purpose of leave fare

concession, the expression “family” of an employee shall mean the employee’s

spouse, wholly dependent unmarried children (including step children and

legally adopted children), wholly dependent physically challenged brother /

sister with 40% or more disability, as also parents ordinarily residing with and

wholly dependent on the employee.

b. The term wholly dependent child/parent, physically challenged brother/sister

shall mean such member of the family having a monthly income not exceeding

Rs. 3500/- p.m. If the income of one of the parents exceeds Rs.3,500/- p.m.

78

or the aggregate income of both the parents exceeds Rs.3,500/- p.m., both

the parents shall not be considered as wholly dependent on the employee.

c. A married female employee may include her natural parents or parents-in-law

under the definition of family – but not both – provided that the parents/parents-

in-law are ordinarily residing with and wholly dependent on her.

6. (VII) / 16.07.1991

In terms of Clause 5 (A) of the Memorandum of Settlement dated 05th January,

1987, it is clarified that the dependent parents, inter alia, shall ordinarily reside with the

employee to be eligible for availment of LFC. An employee may, however, claim LFC in

respect of dependent parents not ordinarily residing with the employee by giving a

suitable declaration and satisfactory evidence of such dependency.

Medical Aid:

Medical Aid will be reimbursed up to Rs. 2000/- per annum to all clerks and sub

staff w.e.f. 01.11.2007.

It can be accumulated up to 3 years.

A workman will qualify for medical aid at higher rate effective from the same calendar

year, if he completes 5th year of service on or before 30th June of that year.

Ex Serviceman employees, their past service is to be added to qualify for higher

amount.

Domiciliary Treatment

Medical Expenses incurred in respect of the following diseases which need

domiciliary treatments as may be certified by the rcognised hospital authorities and

bank’s medical officer shall be deemed as hospitalisation expenses and reimbursed

to the extent of 100% in case of a workman and 75% in the case of his family.

Cancer, Leukemia, Thalassemia, Tuberculosis, Paralysis, Cardiac Ailment,

Pleuresy, Leprosy, Kidney Ailment, Epilepsy, Parkinson’s Disease, Psychiatric Disorder,

Diabetes, Hepatitis-B, Hepatitis-C, Haemophillia, Myastheniagravis, Wilson’s disease,

Ulcerative Colitis, Epidermolysis bullosa, Venous Thrombosis (not caused by smoking)

Aplastic Anaemia, Psoriasis, third Degree Burns, Rhematoid Arthritis, Hypothyroidism

and Hyperthyroidism.

79

Interest Free Medical Aid Advance to Staff Members:

The interest free medical advance may be sanctioned to staff members to meet

medical expenses in the following cases :

When the amount to be deposited with hospital authoties ;

The estimated expenditure is large;

He / she is eligible for medical aid for the treatment / hospitalization of self /

dependent family member as the case may be, on production of bills / estimates etc.

The medical aid advance may be sanctioned as per the delegated authority for

sanction of Clean Loan to the staff. The repayment of balance amount of medical

advance, after appropriation of claim settled amount in instalments may be sanctioned

/ approved by the authority competent to sanction relative medical advance, only in

deserving case after ascertaining the employee’s resources for repayment. The amount

of instalments may be stipulated as under :

For amount up to No. of Monthly Instalments (Maximum)

And inclusive of Sub staff Clerk Officer

Rs. 5000/- 18 18 12

Rs. 15000/- 30 24 18

Rs. 25000/- 42 36 30

Above Rs. 25000/- the number of instalments may be decided on case by case

basis by the Sanctioning Authority taking into consideration the number of left over

years of service of the employee. (Ref. No. P:IR:VRI:843 dated 09th January, 1991)

Ref : Head Office IOM NO.- HO:HR:IR:KVVSP:I-708 dated 20.09.2010

Reimbursement of Hospitalisation Expenses to employees covered by

Mediclaim Policy :

If the employee has taken any insurance policy for reimbursement of Hospitalisation

expenses incurred, reimbursement received from the insurance company together

with the reimbursement from the Bank should not exceed 100% of the Hospitalisation

expenses incurred.

80

(Ref.- IBA Circular No.- PD/76/90/J/2005-06/

667 DT.28.09.2005)

Ex-gratia Medical Aid to Award Staff

Members :

Eligibility Only Award Staff members

can claim reimbursement ofbalance amount ofhospitalisation expensesincurred for self and /ordependent family membersafter reimburse ment in

terms of BipartiteSettlement (hospitalisationexpenses) is considered inrespect of ailments/specialoperations undergonementioned as under :-

(i) Cardiac (ii) Brain (iii)Cancer (iv) Kidney (v) MajorOperations of Spine (vi)serious burn cases (vii) Majoraccidents resulting infractures requiring surgical

treatment (viii) Cases ofsurgery resulting in theamputation of any limb of thebody (ix) Detachment ofretina / retinal surgery (x)Grafting of Bone Marrow (xi)

ESWL (Extra Corporal Shock

Wave Lithotripsy).

(1) Only Award Staff members

can claim reimbursement of

balance amount of hospita

lisation expenses incurred for

self and / or dependent

family members after

reimburse ment in terms of

Bipartite Settlement is

considered in respect of

ailments / special operations

undergone mentioned as

under :-

i) Cardiac (ii) Brain (iii) Cancer(iv) Kidney (v) MajorOperations of Spine (vi)serious burn cases (vii) Majoraccidents resulting in fracturesrequiring surgical treatment(viii) Cases of surgeryresulting in the amputation ofany limb of the body (ix)Detachment of retina / retinalsurgery (x) Grafting of BoneMarrow (xi) ESWL (ExtraCorporal Shock WaveLithotripsy) and (xii)Tuberculosis (xiii) Liver ailment(xiv) Alzheimer / Parkinson (xv)

Dementia.

3. Reimbursement @ 90% for

workman himself and 70% for

the family members in regard

to expenses incurred by the

workman for dialysis, blood

transfusion, pace maker, heart

valve, CAT scanning and

charges for Intensive Care

Unit.

Reimbursement @ 90%

for workman himself and 60%

for the family members in

regard to expenses incurred

by the workman for dialysis,

blood trans fusion, pace

maker, heart valve, CAT

scanning and charges for

Intensive Care Unit.

81

(Ref. No.-Head Office Branch Circular Letter No- 2007-08/ 96 dated 26.10.2007)

Ex-gratia Medical Aid & Hospitalisation Expenses for Award Staff

Reimbursement thereof -

In terms of Head Office Administrative Circular No.-2012-13/2 dated 03.08.2012,

Para-8, it is stated therein that as a pre-condition, an employee has to undertake that

he / she will keep sufficient balance in his / her account to meet the difference amount

of the bill while availing of Walk-in Walk-out facility.

At the request of the Federation of Bank of India Staff Unions, the matter has been

re-examined, it has now been decided not to insist upon for the said undertaking while

allowing an employee or his / her dependents to undergo treatment under walk in walk

out facility.

In terms of Para (6) of the said Administrative Circular wherein it is stated that an

employee is entitled to claim reimbursement of expenses of lowest paying bed as

provided under Bipartite Settlement. However, in respect of certain major ailments i.e.

Cardiac, Brain, Cancer, Kidney, Major operations of spine, serious burn cases, Major

accidents resulting in fractures requiring surgical treatment, cases of surgery resulting

in the amputation of any limb of the body, Detachment of retina / retinal surgery, grafting

of Bone marrow, ESWL (Extra Corporal Shock Wave Lithotrpsy), Tuberculosis, Liver

ailment, Alzheimer / Parkinson and Dementia which have been identified for

reimbursement as specified in Annexure a (1) of Circular Letter No,- 2007-08/96 of

26.10.2007, it may be possible that the Staff members / their dependents had been left

with no alternative but to get admitted in available higher paying class /es

Percentage 60% of the difference

of amount amount in the total

to be expenses incurred and

reimbursed the amount of claim

settled in terms of

Bipartite Settlement in

respect of ailments as

specified in Item No.1

above.

After reimbursing the hosptia

lisation expenses in terms of

Bipartite Settlement, reimburs

ement to the extent of 70% of

the balance amount of such

expenses may be considered

subject to the condition that the

concerned staff member to

bear minimum expenses of

Rs.10,000/- in case of Clerical

Staff and Rs.5,000/- in case of

Sub-Staff out of the total

expenses incurred by him / her.

82

At the request of the Federation of Bank of India Staff Unions, the matter has been

re-examined and Head Office has advised that the patients admitted in a class/es

higher than their entitlement for the treatment of specified ailments / identified

diseases as above are entitled for reimbursement of expenses under ex-gratia

medical aid scheme over and above the expenses already reimbursed to them under

provision of Hospitalisation Scheme of Bipartite Settlement. Head Office has also

advised that the cases of Award Staff members to whom ex-gratia medical aid has

been sanctioned / rejected in terms of the above said Administrative Circular dated

03.08.2012 shall be reopened on the basis of above clarification and difference of

claim amount , if any, is paid to them.

(Ref. No.-HO:HR:IR:MSS:I-713 dated 14.03.2013)

Reimbursement of Hospitalisation Expenses in case of treatment under Indian

Systems of Medicine - Ayurveda, Unani, Homeopathy and Naturopathy

Please refer to our Branch Circular No.99/64 Subject: Personnel 2005-06/6 dated

21.07.2005 (Schedule IV, Annexure-I) and Branch Circular No.99/108 dated 10.10.2005

wherein the revised rates of pathological tests, operation charges etc. reimbursable

as per the 8th Bipartite Settlement dated 02.06.2005 under the Scheme for

Reimbursement of Hospitalisation Expenses have been advised.

02. The medical aid and reimbursement of expenses under the hospitalisation

scheme under the said Settlement are also available for medical treatment

under the recognised systems of medicines, viz. Ayurvedic, Unani,

Homeopathy and Naturopathy if such treatment is taken in a clinic / hospital

recognised by the Central/State Government. Further, reimbursement shall

be limited to such expenses within the prescribed ceilings as would have

been reimbursable in case the treatment was taken in a Government/Municipal

hospital, subject to the overall limits under the scheme, i.e. 100% of approved

expenses for self and 75% in case of family.

03. Hospitalisation expenses such as charges for bed, doctor’s visits, consultation

at the hospital and residence etc. incurred under these systems of medicine

may be reimbursed subject to such percentages and monetary limits for these

services as given in Schedule IV of the aforesaid Branch Circular No.99/64

dated 21.07.2005.

04. Similarly, if any surgery is done under these systems of medicine, operation

charges upto percentages and monetary limits as given under Annexure-II of

Schedule IV of the above-said Branch Circular would be admissible.

83

05. Since the line of treatment under these traditional/indigenous systems is

different from the Allopathic system for various ailments, the nomenclature/

forms used in the medical record/report/certificate/prescription for pathological

tests, investigations etc. may not equate with those mentioned in Annexure I

of Schedule IV of our above said Circular. In such cases, the sanctioning

authority may have to consult one of the recognised hospitals providing services

under the particular system of medicine, for the purpose of ascertaining the

nature of treatment and tests vis-à-vis those mentioned in the Annexure/

Schedule in Hospitalisation Scheme as given in the above said Branch Circular

and consider reimbursement within the prescribed limits.

06. Hospitalisation Scheme permits reimbursement of 100% of the cost of

medicines actually incurred in case of employee and 75% for the dependents

of the employee in case of treatment under Unani, Homeopathy, Ayurveda

and Naturopathy also. Physician’s prescription and bills of the pharmacy/drugs

store should be insisted upon while considering such claims. In case of any

doubt regarding the price of the drugs/medicines for which reimbursement is

claimed, the sanctioning authority may independently ascertain the maximum

price prescribed for the medicine/drug as per the latest price list of the

pharmacies/drug manufacturers concerned. Such price catalogues can be

had from the Government approved pharmacies. Alternatively, the approved

pharmacies may be required to certify that the price charged is as per

catalogues of manufacturers. The Zonal Offices, if they desire, may refer to

list of such pharmacies recognized / approved by Central / State Government

available in the book published by Swamy’s Publishers Private Limited. The

said book may be used by the Zones as a Reference Book only if they

desire so.

07. Please note, Zonal Offices should ascertain from the appropriate authority

regarding recognition of the hospital (Ayurveda, Unani, Homeopathy,

Naturopathy, as the case may be) by the Central/State Government (like

Government Notification / Gazette Notification / confirmation from Government

Health Department etc.), while considering the claim submitted by the staff

member for the treatment taken in the said hospital. Zonal Office to inform to

Staff Administration Division, HR Department, Head Office, the names of

hospitals which are recognised by Central / State Government operating in

their Zone and in respect of whom they have sought confirmation. The

procedure given above shall also be applicable in respect of Officer staff.

84

08. Please follow the aforesaid guidelines while considering the claim submitted

for reimbursement of hospitalisation expenses, by the staff members for the

treatment taken under Indian systems of medicines i.e. Ayurveda, Unani,

Homeopathy and Naturopathy.

(Ref.No.: Head Office IOM No.-HO:HR:IR: VGK:I-930 dated Date :02.11.2007)

Reimbursement of Hospitalisation Expenses – Implanted items

(Ref.: IBA Circular No. PD/76/35, dt. 24.4.2007)

Sl.No. Name of the item Maximum ceiling per item

1 Coronary Stent Rs.60000 (per Stent) subject to a

maximum of two stents in a patient

or the actual cost whichever is less.

2 Rotablator Rs.50000 or the actual cost,

whichever is less

3 Pacemaker (Single Chamber) Rs. 37500 or the actual cost,

without rate response whichever is less

4 Pacemaker (Single Chamber) Rs. 65000 or the actual cost,

with rate response whichever is less.

5 Pacemaker (Dual Chamber) Rs. 115500 or the actual cost,

whichever is less

6 Knee implant Rs. 60000 plus Rs. 5000 as the cost

of Bone cement

7 Hip implant Rs. 35000 plus Rs. 5000 as the cost

of Bone cement

8 Intra-Ocular Lens Rs.6500 or the actual cost,

whichever is less

The difference between the expenses incurred and the amount reimbursed for

the cost of implanted items, if any, will be sanctioned under the scheme for

reimbursement under ex-gratia medical aid.

Reimbursement of Hospitalisation Expenses on MSEH Charges for Hernia

Operation :

Expenses on MESH charges for hernia operation can be reimbursed under

hospitalisation scheme, subject to the condition that reimbursement for such implanted

85

items shall not exceed the rates approved by AIIMS / CGHS for the lowest paying beds.

(Ref. No.- IBA Letter No. :HR& IR/MV/BOI/J/2633 dated 16.02.2009 and Head Office

IOM NO. - HO:HR:IR:VGK:I-1230:B-22 dated 18.02.2009)

Reimbursement of Physiotherapy Charges

IBA has advised that if physiotherapy forms part of hospitalisation expenses for

treatment of fracture then Bank may consider reimbursing the same, having regard to

the cost of such treatment in Govt. Hospital.

IBA has further advised that where expenses are incurred on physiotherapy as

treatment for paralysis the same be considered as part of domiciliary treatment for

reimbursement as hospitalisation expenses. (Ref. No. Head Office IOM NO.-

P:IR:VRI:843 dated 09.01.1991)

Reimbursement of Hospitalisation Expenses- New Technologies

As per the extant scheme, reimbursement of hospitalisation expenses for

treatment of employees and their dependents is restricted to the ceiling prescribed in

the schedule of charges in the Bipartite settlement / Service Regulations / Service

Rules.

With the advancement in medical technology, innovative and highly sophisticated

techniques are now available for treatment of various diseases / ailments with a high

success rate. most hospitals are now applying such new techniques in treatment of

certain diseases, e.g. Lithotripsy for treatment of Kidney Stone, Laser Surgery for

cataract, etc. These treatments are very expensive and are not included in the schedule

of charges under the hospitalisation scheme.

We have been receiving queries from the member banks regarding the extent to

which reimbursement of expenses can be made treatments undertaken applying such

advanced techniques. We have examined the matter. We are to advise that in such

cases reimbursement of hospitalisation expenses be restricted to what is otherwise

available for convention type of treatment under the existing scheme under Bipartite

Settlement / Service Regulations / Service Rules. (Ref. No.- PD/CIR/76/J/605 dated

16.07.1999)

86

LEAVE RULES

General Rules:

Any leave other than casual leave shall be applied in writing and shall be made

one month in advance. (Exception illness- unforeseen circumstance) Request for

extension of leave should be in writing (giving full postal and telegraphic

address) and made well before the expiry of the leave granted. Leave is not a matter of

right. Where an employee is called back before the expiry of leave, the bank will pay

him to and fro travelling expenses from the place of recall. If his family has accompanied

him during leave period they are also eligible for such travelling expense. Gazetted

holidays (other than Sundays) cannot be prefixed or suffixed to any leave without the

sanction of the competent authority.

For leave purposes a calendar year is from 1st January to 31st December of

each year.

Privilege Leave:

Privilege leave shall be calculated @ one day for every 11 days of active service.

However, an employee will be eligible to take leave only after completion of 11 months

of active service. While calculating privilege leaves all type of leave except casual

leave will be excluded.

An employee is not entitled to accumulate leave in excess of the maximum

prescribed i.e 240 days.

An employee is not entitled to take PL on more than 3 occasion (exception EC

member of a registered trade union) except(1) where he had proceeded on leave and

was recalled (2) leave was granted on grounds of sickness(3) PL taken under special

circumstances and was duly granted such leave.

Sick Leave:

One month for every year of service. Maximum 18 months during entire service.

Sick leave will be on half substantive pay. However, if requested by employee such

leave can be granted by entering as twice the amount of leave taken in his sick leave

account Sick leave can be granted upon production of medical certificate acceptable

to the bank. Sick leave can be availed without production of medical certificate after

exhausting Casual leave. This is subject to a maximum of 3 days on an occasion and

10 days in a calendar year.

Where service of an employee is more than 24 years an additional 1 month for

every year of service in excess of 24 years subject to 3 months of additional sick leave.

87

Casual Leave:

Maximum of 12 days in a calendar year. 4 days casual leave can be availed of at

a time. However, casual leave should not be combined with other holidays and Sundays

in such a way that it exceeds 6 days, If so, entire period will be treated as PL. casual

leave can not be granted with any other leave. Holidays and weekly - off falling within

the period of casual leave will not be treated as part of casual leave.

Casual leave is non-cumulative. However, casual leave not availed during a

calendar year can be accumulated under sick leave (on full substantive pay) over and

above maximum sick leave. Such leave not exceeding a day if availed on grounds of

sickness, shall be allowed without production of medical certificate.

Casual leave during first year of service of an employee shall be 1 day for every

completed month or part thereof.

UCL can be availed without production of medical certificate for Max. 10 days in a

year subject to no balance in C.L. account in the relevant year. Such leave can be

availed for Max. 3 days per occasion.(Under Bank’s own scheme -1999)

UCL can be availed without Medical Certificate maximum one day at a time

irrespective of balance of C/L (Under industry level Bipartite Settlement) (HO:P/IR/

CMR/I-101 B-4 dated 19.04.2002)

Extra Ordinary Leave:

Extra ordinary leave may be granted when no other leave is due to an employee.

Except in exceptional circumstances it will not exceed 3 months at a time and 12

months in entire service.

It may be granted in combination with or in continuation of leave.

No pay + allowances are admissible are during the period of EL. and the period or

leave shall not be counted for increment (Exception at the discretion of the bank for the

purpose of increment - illness of an employee or circumstances beyond the control of

an employee) In case of office bearer of a registered trade union increment may be

deferred only if EL exceeds 2 months in an incremental year.

Maternity Leave:

Maternity leave may be granted in combination or in continuation of any other

leave on supported by Medical certificate.

Legal adoption for only one child. Leave 2 months or child reaches the age one

year whichever is earlier. Applicable to all female employees (except part time employee)

88

Maternity leave, which shall be on substantive pay, shall be granted to a female

employee for a period not exceeding 6 months on any one occasion and 12 months

during the entire period of her service.

Within the overall period of 12 months, leave may also be granted in case of

miscarriage / abortion/MTP. Within the overall period of 12 months, leave may also be

granted in case of hysterectomy up to a maximum of 45 days.

Leave may also be granted once during service to a childless female employee

for legally adopting a child who is below one year of age for a maximum period of two

months or till the child reaches the age of one year, whichever is earlier subject to the

following terms and conditions: -

(i) Leave will be granted for adoption of only one child.

(ii) The adoption of a child should be through a proper legal process and the

employee should produce the adoption-deed to the Bank for sanctioning such

leave.

(iii) The temporary and part-time employees are not eligible for grant of leave for

adoption of a child.

Special Leaves:

Special Leave for home guard duty. Maxi. 365 days in entire service and will be

deducted for accrual of PL.

One day Special Casual Leave on the day of Blood donation. He has to

produce a certificate from the medical officer of the hospital.

Where an employee was not able to attend the office on account of imposition of

Curfew either at the place of residence or at the place of work, the absence should be

treated as Special Casual Leave.

Special Casual Leave.

If employee is summoned to attend courts or departmental enquiries outside the

bank for giving evidence on behalf of the bank, he should be granted special Leave. If

employee attend trekking programme, he can be granted Maxi. 30 days leaves per

year. Such course should be approved by Indian Mountaineering Foundation. One

day Special Casual Leave to female employee who had IDU insertion.

Special Leave in case of injury on duty fully reimbursed with medical cost and

treatment/or hospitalization over & above of his/her normal entitlement.

89

Notes:

A. For calculation of S.L. Please Refer HO/P/IR/CMR/518 B-4 dated 12.07.02.

B. Calculation of PL take active service (excluding leave availed i.e. PL,SL,Spl.

Leave, EOL, Strike) – (Ref. No.H.O. Br. Cir. No 80/172 dated 27.06.86.

PL encashment on Resignation:

If P.F option - 50 % of bal or 120 day Maxi. Otherwise if pension option balance of

P L or max. 240 days, whichever is less. (H.O. Branch Cir No:95/16 dated 18.5.01).

Special Casual Leave not more than 10 days in a calendar year, subject to

exigencies of work, to the differently abled employees as defined in Person with Disability

(equal opportunities, protection of right and full participation)Act 1995 for participating

in Seminars/ workshop/ conferences and training related to Disability and Development

organized by Central Govt. and State Govt.

(Head Office Branch Circular: 102/49 dated 19.06.2008) and (Head Office Branch

Circular No: 84/51 dated 31.05.90, 85/140 dated 02.09.91)

Sabbatical Leave:

BANK OF INDIA SABBATICAL LEAVE SCHEME FOR FEMALE EMPLOYEE (BOISLFE)

Application under BOISLFE can be made for the following purposes :

For own medical reasons;

To take care of family members / children;

For higher studies in India or abroad;

For visiting spouse in India or abroad

Any other purpose acceptable to the Bank

Period of Leave : Minimum 3 months and 2 years maximum during the entire service.

Leave can not be taken more than once in a year. The application of leave shall be sent

one month in advance and once sanctioned the said leave, the same shall be

irrevocable.

90

Competent Authority:

Award Staff Members working in Head Assistant General Manager

Office (HR/IR), Head Office

Award Staff Members working in the Zonal Manager

Zones

Award Staff Members working in General Manager posted at

LCB/MCB/DMO/NBG respective NBG

Employees (Award Staff and Officers) General Manager (HR) Head Office

who have not completed 5 years of

service

(Ref. No.- Head Office Branch Circular No.- 106/20 dated 25.04.2012)

“On Duty” / Special Leave to Sports Persons / Officials who participate in various

level tournaments / championship may be granted for the following purpose :

When a sports person from the Bank represents the State in Senior Nationals or

represents the country in any series / match against another country (with Govt.’s

approval), he may be granted Special Leave. There is no limit on the number of days

leave can be granted in a year for such participation.

When a sports person from the Bank is representing either the Bank or Bank’s

Sports Board in any Inter-Bank Tournament or any open Tournament which may be

city level or State level or which may be called or deemed as National or International

level, he may be granted Duty Leave.

If a Sports Person does not fall within the aforesaid (i) & (ii) clauses and is

participating in a tournament in his individual capacity, he need not be granted any

Special Leave or duty leave. A Sports person appointed as Umpire / Referee / Judge/

Tournament Director / Arbitrator for National Level / International Level Tournaments or

appointed as Coach / Manager of National / International Level Teams, may be granted

Special Leave for the actual no. of days of tournament as also the time spent in travelling

by the direct route. (Ref. No. H.O. IOM No.- P:IR:AVD:582 dated 07.09.1996)

Grant of Special Casual Leave to the differently abled Central Government

employees

Special Casual Leave for not more than 10 days in a calendar year, subject to

exigencies of work, to the differently abled employees, as defined in the Persons with

Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995

91

for participating in Conferences / Workshops / Seminars / Trainings related to Disability

and Development organized by the Central Government, State Government, Union

Territories and the following National and State level agencies.:-

(i) Central and State / UT Government Institutions / Agencies;

(ii) International Agencies like UN, World Bank etc.;

(iii) Universities & Educational Institutions set up by Central / State Government,

recognized as predominant centers for education or rehabilitation of persons

with disabilities; and

(iv) Recognised institutes for persons with disabilities under Chapter X

(Section 56) of the Persons with Disabilities (Equal Opportunities, Protection

of Rights and Full Participation) Act, 1995 (Ref. No.- Head Office B.C.No.- 102/49

dated 19.06.2008)

Absence of employees on account of Political bundhs, agitation, strikes, curfew,

floods, breakdown of public transport system etc. is guided by Head office IOM No.-

P:IR:MMD:3383 dated to 09.04.1988.

PENSION

Pension scheme is applicable to all employees whose date of joining is after

01.11.1993. For those who have retired after 1-11-2007:

Existing Pension will be refixed based on Pay under 9th BPS and

Pension arrears of pension paid.

optees Commutation will be reworked based on revised pension

and difference amount will be paid.

Existing PF Pension is payable based on 9th BPS PAY

optees who Commutation is payable on pension based on 9th BPS

will opt for Arrears of pension from 27-11-2009 or from date of

pension now retirement whichever is later.

Consequent upon the 9th wage revision, the pension, dearness relief, family

pension, minimum pension, etc., payable in respect of those employees who ceased

to be in service on or after 1.11.07 and are eligible for pension need to be revised.

Basic pension calculated on the average of last ten months basic pay, FPA,PQP,

& Spl. Allow. Formula:

Basic Pension = BP+ FPP + PQP + Other Sp. Pay x No. of years of active service2x33 years

92

PENSION

The basic pension will be revised on the basis of the revised pay w.e.f. 1.11.07.

Further to Clause 6 of the Bipartite Settlement dated 2nd June 2005, it is agreed between

the parties as under:

(i) With effect from 1st May 2005, the pension of employees who retired or died

while in service during the period 1st April 1998 to 31st October 2002 will be

re-fixed based on the definition of ‘Pay’ as defined in Clause 6(ii) of the Bipartite

Settlement dated 27th March 2000. No arrears of pension and commuted value

of pension will be payable on account of such re-fixing of pension.

(ii) With effect from 1st May 2005, the pension of employees who retired or died

while in service during the period 1st November 2002 to 30th April 2005 will be

re-fixed based on the definition of “Pay” as defined in Clause 6 of the Bipartite

Settlement dated 2nd June 2005. No arrears of pension or commuted value of

pension will be payable on account of such re-fixation of pension.

DEARNESS RELIEF

The dearness relief shall be payable for every rise or be recoverable for every fall,

as the case may be, of every 4 points over 2836 points in the monthly average of All

India Consumer price index for Industrial Workers in the series 1960 = 100 at the rate

0.15 per cent of basic pension.

Further to Clause 7(2) of the Bipartite Settlement dated 2nd June 2005, it is agreed

between the parties as under:

(i) On and from 1.5.2005, in the case of employees who retired during the period

1.4.1998 to 31.10.2002, dearness relief shall be payable for every rise or be

recoverable for every fall, as the case may be, of every 4 points over 1684

points in the quarterly average of the All India Average Consumer Price Index

for Industrial Workers in the series 1960=100. Such increase or decrease in

dearness relief for every said four points shall be calculated in the manner

given below:

Scale of Basic The rate of Dearness Relief payable as a percentage of

Pension per month Basic Pension

Upto Rs.3550 0.24 percent

Rs. 3551 to 0.24 per cent of pension exceeding Rs.3550 plus 0.20 per

Rs. 5650 cent of the basic pension in excess of Rs.3550

Rs. 5651 to 0.24 per cent of Rs.3550 plus 0.20 per cent of the

Rs. 6010 difference between Rs.5650 and Rs. 3550 plus 0.12 per

cent of basic pension in excess of Rs.5650

93

Above Rs.6010 0.24 per cent of Rs. 3550 plus 0.20 per cent of the

difference between Rs.5650 and Rs.3550 plus 0.12 per

cent difference between Rs.6010 and Rs.5650 plus 0.06

per cent of basic pension in excess of Rs.6010

(ii) In respect of retirees for the period 1.11.2002 to 30.4.2005 for whom pension

has been revised w.e.f. 01.5.2005 based on definition of pay in terms of Clause6 of the Bipartite Settlement dated 2nd June 2005, dearness relief shall bepayable w.e.f. 1.5.2005 for every rise or be recoverable for every fall as thecase may be of every four points over 2288 points in the quarterly average of AllIndia Average Consumer Price Index for Industrial Workers in the series1960=100 @ 0.18% of the basic pension.

(iii) In respect of employees who retire on or after 1.5.2005, dearness relief shall bepayable for every rise or be recoverable for every fall, as the case may be, ofevery four points over 2288 points n the quarterly average of the All India AverageConsumer Price Index for Industrial Workers in the series 1960=100, at the

rate of 0.18 per cent of basic pension.

(iv) In respect of employees who retired or died while in service on or after 1.05.2005

Dearness Relief shall be payable at 0.18% of the basic pension or family pension

or invalid pension or compassionate allowance as the case may be. Dearness

Relief in the above manner shall be paid for every rise or fall of 4 points over

2288 points in the quarterly average of the All India Average Consumer Price

Index for industrial workers in the series 1960 = 100.

Note : The Dearness Relief as above shall be payable for the half year commencing

from the 1st day of February and ending with 31st day of July on the quarterly average

of index figures published for the months October, November and December of the

previous year and for the half year commencing from 1st day of August and ending

with the 31st day of January on the quarterly average of the index figures published for

the months of April, May and June of the same year.

94

FAMILY PENSION

In respect of employees (other than part-time employees) who retire/retired

from service on or after 1.11.07 the ordinary rate of pension shall be as under:

Scale of pay Amount of monthly family pension

per month

Upto 30 per cent of the ‘pay’ shall be the basic family pension plus

Rs.7,090 30 per cent of allowances which are counted for making

contributions to Provident Fund but not for dearness allowance

shall be the additional family pension. The aggregate of basic

and additional family pension shall not be less than Rs.1,779

per month.

Rs.7,091 to 20 per cent of the ‘pay’ shall be the basic family pension plus

Rs.14,180 20 per cent of allowances which are counted for making

contributions to Provident Fund but not for dearness

allowance shall be the additional family pension. The

aggregate of basic and additional family pension shall not be

less than Rs.2,186 per month.

Above 15 per cent of the ‘pay’ shall be the basic family pension plus

Rs.14,181 15 per cent of allowances which are counted for making

contributions to Provident Fund but not for the dearness

allowance shall be the additional family pension. The aggregate

of basic and additional family pension shall not be less than

Rs.2,841 per month and more than Rs.5,930 per month.

Note:- In the case of part-time employees, the minimum amount of family pension and

the maximum amount of family pension shall be in proportion to the rate of scale

wages drawn by the employee.

In case of an employee who dies after completion of 7 years service, higher family

pension equal to 50 % of pay last drawn by the deceased employee or twice the ordinary

rate & family pension whichever is less is payable.

In the event of the death of an employee after retirement before attaining age 65

years family pension is payable at twice the ordinary rate of family pension or @ 50 %

of pay last drawn by the employee at the time of retirement, whichever is less. The

Maximum period for which higher family pension will be payable is 7 years or till the

deceased employee would have attained 65 years of age if it occurs earlier.

95

(IV) MINIMUM PENSION

In respect of employees other than part-time employees, who retired on or after

1.11.07, the amount of minimum pension shall be Rs. 1,779 p.m.

In respect of part-time employees who retired on or after 1.11.07, the minimum

pension payable shall be

Rs.595 p.m. in respect of part-time employees drawing 1/3 scale wages,

Rs.892 p.m. in respect of part-time employees drawing ½ scale wages and

Rs. 1,339 p.m. in respect of part-time employees drawing ¾ scale wages.

Pending amendments to Bank employees Pension Regulations, 1995, banks may

compute pension as above. Before, however, giving effect to the revised pension, a

suitable undertaking may be obtained from the pensioners as well as from family

members/nominees, to enable the pension fund to make adjustments, if any, at a later

date. We are enclosing a draft of the irrevocable letter to ne obtained from the

pensioners.

Member banks may please be guided as above.

For Employees retired between April, 1998 and October, 2002: 50% of the Pay as

per 7th BP.

For Employees retired between November, 2002 and April, 2005: 50% of the Pay

as per 8th BP.

For Employees retired/retiring from May, 2005: 50% of the Pay as per 8th BP.

This higher Pension will be paid from 1st May, 2005

Commutation :

Both basic pension, additional pension can be commuted to the extent of 1/3 of

eligible pension X 12 X age factor as per chart). Commutation part of pension will be

restored again after 15 years from the date of commutation. D.A. is payable on full

pension even if commuted.

6. Payment of pension as per VIII BPS:

Employees retiring from 01.05.05 Basic pension will be 50 % of the average pay

drawn at the time of retirement as per 8th BPs

Employees who have retired between April 1998 to Oct. 2002. Basic pension will

be 50 % of 7th BP pay.

96

Employees retiring between Nov 2002 and April 2005: Basic pension will be 50 %

of 8th BP pay.

This increased pension will be paid from 01.05.05.

In terms of Head Office Branch Circular No. 107/42 dated 03.06.2013

“As per the present system, staff pensioners need not have to apply / request for

restoration of commuted portion of pension. His pension will be restored after 15 years

from the date of payment of commutation without obtaining any request / application

from him.”

It is agreed between the parties that the terms of the Bank Employees’ Pension

Regulations, 1995 dated 29th September 1995/ 26th March 1996 shall not apply to the

employees who join the services of Banks on or after 1st April 2010; and they shall be

covered by a Defined Contributory Pension Scheme, which shall be governed by the

provision of the Contributory Pension Scheme introduced for employees of the Central

Government w.e.f. 1st January 2004, and as modified from time to time. Necessary

amendments to the relevant provisions of the Bank Employees’ Pension Regulations,

1995 dated 29th September 1995/ 26th March 1996 shall be carried out following the

procedure in this regard.

(Head Office Branch Circular No.:89/123 Dt.01.11.1995)

Commutation Table:

Age next Factor Age next Factor Age next Factor

birthday of birthday of birthday of

years’ years’ years’

purchase purchase purchase

51 12.95 56 11.42 61 9.81

52 12.66 57 11.10 62 9.48

53 12.35 58 10.78 63 9.15

54 12.05 59 10.46 64 8.82

55 11.73 60 10.13 65 8.50