DA for Bank Employees from Nov 2017 to Jan 2018
The calculation of Dearness Allowance for bank employees is almost finalized from Nov 2017 to Jan 2018.
The calculation of Dearness Allowance for bank employees is almost finalized from Nov 2017 to Jan 2018.
To all Units, office Bearers, CC & GC Members
Demonestisation killed 1.5 million jobs
Hold demonstration in all State Capitals
Demonestisation of currency notes of Rs. 1000 and Rs. 500 was announced on 8th November 2016 and one year is goint to be completed on 7th November next after the announcement made by the Hon’ble Prime Minister going beyond the provisions of Reserve Bank of India Act.
The annual report published by Reserve Bank of India recently reveals that Rs. 15.28 lakhs crores or 99% of Rs. 15.44 lakhs crores scrapped currency notes came back to the system after demonetization. The annual report also stated that only Rs. 16000 crores of demonetised currency was not deposited with the banks.
While announcing demonetization, Govt. boasted it as a fight against black money, funding for terrorists and counterfeit currency but all have fallen flat, With the 99% of currency notes exchanged legally, the question arises, was the demonetization a scheme designed to convert black money into white.
Demonetisation has claimed lives of more than 100 innocent citizen of our country including more than 10 bank employees and officers. The Government is solely responsible for this loss of lives. But the irony of the thing is that the Central Cabinet in a Press communique stated that there has not been any loss of live due to demonetisation.
The claims pronounced at the time of demonetization having been proved to be a hoax and to divert the attention of the common people from the ill effects of demonetization, the Government has taken the move for digitization of the payment system in the interest of fintech companies like Paytm, jio money etc. Such step will have disastrous effect on our banking system.
As per survey report made by Centre for Monitoring Indian Economy (CMIE) demonetization has killed more than 1.5 million jobs.
Centering round demonetization we organised several programs in the last year. In the backdrop of Government’s move to divert the attention of the people from the damage caused to our economy and the interest of the common people particularly the workface in the informal sector, we feel it duty bound to raise our voice of protest once again against the ill effects of demonetization.
As decided in our last Central Committee meeting held in Delhi, we call upon our units to organise protest demonstrations/rallies/meetings in all State capitals and major centres on a day falling between 8th November to 15th November 2017 as per local convenience.
Mumbai, September 25, 2017: State Bank of India (SBI) has reviewed the requirement of maintaining Monthly Average Balance (MAB) and the charges for non-maintenance of MAB. In this context SBI would like to state that financial inclusion including JAN DHAN Accounts have never been subject to any charges. In respect of the rest, it has now been decided to exempt the pensioners, beneficiaries of social benefits from the Government and accounts of Minors. Therefore, this is in addition to the already exempted categories under PMJDY accounts and Basic Savings Bank Deposits Accounts (BSBD).
The Bank has also decided to treat the metro and urban centres in the same category and the requirement of MAB in metro centres stands reduced to Rs.3000/- . For non-maintenance of MAB, the charges have also been revised downward ranging from 20% to 50% across all population groups and categories. The charges at semi-urban and rural centres range from Rs.20/- to Rs 40/- and at urban and metro centres from Rs 30/- to Rs 50/-. The revised MAB requirement and charges will become applicable from the month of October 2017.
The Bank has a very strong deposit franchise having 42 crores Savings Bank accounts out of which 13 crore accounts under PMJDY / BSBD were already exempted. The above revision is likely to benefit another 5 crore account holders. The Bank also clarified that customer always has the option of converting the regular savings bank account to BSBD account, free of charge, in case he desires to avail basic savings bank facilities without being subject to maintain MAB. The features of BSBD accounts are available in the bank’s website bank.sbi.
The following categories of Savings Bank Accounts are excluded from MAB requirement:
i) Financial Inclusion Accounts
ii) Basic Savings Bank Deposit Accounts
iii) Small Accounts
iv) Pehla Kadam and Pehli Udaan accounts.
v) Minors up to the age group of 18 (Primary Account Holder)
vi) Pensioners, all categories, including recipients of social welfare benefits
About State Bank of India
State Bank of India (SBI) the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The bank has a deposit base of 26.02 lakh crore with CASA ratio of 43.81%. As on June 30, 2017, SBI has an extensive network, with over 23 thousand branches in India and 194 offices in 35 other countries across the world in all time zones. It has a strong network of more than 59 thousand group ATMs. With more than 2.73 lac employees it caters to a customer base of more than 42 crore which includes nearly 2.3 crore Mobile Banking users, over 4 crore Internet Banking users, 1.07 crore State Bank Buddy users. As on March 31, 2017, the bank has installed more than 6 lac PoS terminals, capturing a little over 22% of market share and 34.5 crore State Bank Debit Card holders. SBI has the highest number of Facebook followers across all banks in the world. SBI’s non- banking subsidiaries / joint ventures are market leaders in their respective areas and provide wide ranging services, which include investment banking, life insurance, general insurance, mutual funds, credit cards, factoring services, security trading, etc making the SBI Group a truly large financial supermarket and India’s financial icon.
Revised Bank transaction charges for customers using any Debit cards at ICICI, AXIS Payment gateway , Paytm or Payu (Multiple Service Provider):- 0.25% for transactions upto Rs.1000/-, 0.5% for transactions above Rs.1000 and upto 2000/- and 1.0% for above 2000 value transactions.
Debit/Credit cards of all banks are accepted on any payment gateway.
No truth in news of having blocked any card of any bank.
To use any Debit/Credit Card on Payment page, select “Payment Gateway/Credit/Debit Cards” and use any Payment Gateway.
User can have a maximum of 6 Banks in their Preference list.
User can manage their Bank Preferences under My Profile section.
If you have any Visa/Master Debit Card not listed below, any of the Visa/Master Credit Card Payment Gateways (ICICI PG, HDFC PG, AXIS PG, CITI PG) can be used for ticket booking (If enabled by card issued)
Circular No: 24/2017
24th August, 2017
To all Affiliates/Office Bearers/CC/GC Members
This is further to our Circular No.23/2017 of yesterday. You were informed of the decision of Central Cabinet meeting held yesterday to constitute “alternative mechanism” for giving in principle approval for merger of public sector banks in the name of consolidation.
Through our circular referred above we expressed our strong sense of resentment against the decision of the Central Cabinet as we are of the firm opinion that the decision of the Cabinet is nothing but a ploy to go ahead with the hidden agenda of privatisation of public sector banks.
UFBU, through telephonic consultations among the constituents, has decided to hold demonstrations at all State Capitals and major centres at the earliest, the date for which will be decided by state units of UFBU depending upon local convenience.
We call upon all our units to take immediate initiative for holding meetings/consultations of/with state units/constituents of UFBU and to decide the date for holding the demonstration at State Capitals and all major centres of concerned States.
All our State units have to ensure maximum mobilisation of our members in respective areas.
(A Govt. of India Undertaking)
Department: HUMAN RESOURCES
Reg: Staff – Payment of Bonus – As per Bonus (Amendment), Act 2015. For the Year 2016-17.
Payment of Bonus Act was amended recently. As per the amended provisions the ceiling on salary and wage has been increased from Rs.10000/- to Rs.21000/- per month. As such, employees whose salary/wage does not exceed Rs.21000/- per month are now eligible for bonus.
It has been decided to pay Bonus at the rate of 8.33% of salary to all the eligible employees for the period 01.04.2016 to 31.03.2017.
Salary for this purpose includes 1) Basic pay (including FPP & PQP) 2) Special Pay 3) Dearness Allowance 4) Special Allowance with DA only.
All the branches / offices may note to disburse the Bonus to all the eligible employees as per the procedure given here under:
Tentative list of eligible employees together with Bonus Calculation as per the data extracted from HRMS shall be provided to all Zones.
Zonal Offices should get the data verified and confirm the correctness of eligibility and amount of Bonus paid and payable.
For any modifications required to be undertaken in the list, Zonal Office should submit the details to HO with suitable justification
On receipt of the “Branch-wise difference and addition of Bonus payable details – as per the format given in Annexure-IV” from the Zonal offices, the Bonus Amount will be credited to the “Cheque Proceeds Account” of the Zonal Office for onward distribution to branches.
Branches should enter details of Bonus paid in the Bonus Register for verification by the Labour Department Officials.
The entire exercise of verification of calculation and Payment of Bonus to eligible employees should be completed by 25.09.2017.
For the information of our branches/offices, the important guidelines and illustrations are given in Annexure-I, II and III
All the salary disbursing authorities are advised to go through the contents of this circular carefully and adhere to the stipulations mentioned without any deviation.
(V B BHAGAVATHI)
General Manager (HR)
State Bank of India (SBI) has informed that it has introduced ‘Work from Home Policy’ for permanent Officers in the Bank. The details of the Policy are annexed.
(i) The facility can be availed occasionally up to 5 days a month or for a longer duration, subject to approval by the Competent Authority not less than officers in the grade of TEGS-VI i.e. Deputy General Manager/TEGSS-I i.e. Chief General Manager.
(ii) Job profiles covered have clear defined deliverables, which can be remotely measured and which requires minimal dependency of the job- on physical presence, on data/documents/system/infrastructure of the Bank, on vendor interaction, on daily co-ordination with team members, daily face to face meetings and regular face to face customer interactions.
(iii) Specific metrics are put in place for measurement of productivity of the officials along with addressing the security concerns on the Banks’ confidential data and information.
(iv) Job profile requiring access to the Core Banking Solution or facing customer on regular basis are not be covered under the policy.
(v) The employee is required to submit a work report based on the tasks/deliverables assigned and the respective completion status at the end of the Work from Home duration. The approver reviews the work of the employee before providing the confirmation on the work of the employee.
(vi) Employees are not be entitled for any allowance/benefits/compensation on account of Work from Home.
The above information given by the Minister of State in the Ministry of Finance Shri Santosh Kumar Gangwar in a written reply to a question in Rajya Sabha on 08.08.2017.
Pension in Nationalised Banks is based on Bipartite Settlement between Unions/Associations and Indian Banks’ Association (IBA) representing managements of Banks. IBA has informed that there have been demands from Pensioners’ Associations regarding pension updation.
At present, no such proposal is under consideration of Government.
IBA has informed that pension in Nationalised Banks is paid to the retirees’ from the pension fund of bank concerned and improvement in pension directly affects the profitability of the banks.
The abvoe information given by the Minister of State in the Ministry of Finance Shri Santosh Kumar Gangwar in a written reply to a question in Rajya Sabha on 08.08.2017.
State Bank of India (SBI) has informed that there is no plan to launch Voluntary Retirement Scheme (VRS) in their bank at present.
SBI has informed that VRS was offered by the erstwhile Associate Banks of SBI to their employees and officers before merger and three thousand five hundred sixty nine (3569) employees/officers of erstwhile Associate Banks had opted for the same.
The abvoe information given by the Minister of State in the Ministry of Finance Shri Santosh Kumar Gangwar in a written reply to a question in Rajya Sabha on 25.07.2017.
Dearness Relief payable for the period August 2017 to January 2018 to surviving pre 1.1.1986 retirees of banks (b) surviving spouses of pre 1.1.86 Retirees who are in receipt of Ex-gratia – IBA Circular
HR & INDUSTRIAL RELATIONS
August 1, 2017
Designated Officers of all Nationalised Banks
and Associate Banks of State Bank of India
Dearness Relief payable for the period August 2017 to January 2018 to surviving pre 1.1.1986 retirees of banks (b) surviving spouses of pre 1.1.86 Retirees who are in receipt of Ex-gratia
As per the directive contained in the Government of India, Ministry of Finance, Department of Economic Affairs (Banking Division) letter F.No. 11/2/2012-IR dated 17.12.2013, the Dearness Relief payable to surviving pre 1.1.1986 retirees of banks for the period August 2017 to January 2018 on Ex-gratia will be as under :
Applicable CPI Average
Ex-gratia per month
Rate of Dearness Relief
Amount of Relief per month
Total Ex-gratia amount including Dearness Relief per month
Pre 1.1.86 Retirees
Surviving spouses of pre 1.1.86 retirees
S K Kakkar