11th Bipartite Wage Settlement : Charter of Demands: Other Allowances and Benefits

11th Bipartite Settlement is due from 1st November 2017. Charter of demand for 11th Bipartite Settlement has been submitted jointly by AIBOC, AIBOA, INBOC & NOBO. Charter of demand will be the basis for discussions and negotiations for finalizing the salaries, benefits and other matters concerning bank employees 11th bipartite settlement.

Other Allowances & Benefits

INCENTIVES FOR WORKING IN RURAL CENTERS AND OTHER SENSITIVE AREAS:

An additional allowance to the extent of 20% of the Basic Pay drawn by him; Weightage for the purpose of Promotion Choice place of posting on completion of the assignment An additional LTC to enable him to meet the family etc; (As provided for those serving in North East for the Public Sector Employees)

CLOSING ALLOWANCE:

All officers irrespective of the office of posting/ i.e. branch/administrative office etc., should be paid the closing allowance equal to 15 days of their salary once in 3 months.

 

HALTING AND TRAVELING ALLOWANCES

  1. Review and rationalization of Halting/Boarding/Traveling expenses.
  2. The Boarding expenses should be linked to lodging expenses.
  3. The existing system of allowing banks to fix the rates of reimbursement periodically should continue with a provision to review them annually.
  4. All officers should be eligible for travel by Air, irrespective of distance with Executive Class entitlement for Senior Management.
  5. For places not connected by Air, Officers should be permitted to travel by st AC-I Class by rail.
  6. Option to be granted for travel by road in any other mode also including own vehicle. Seeking permission of the competent authority to be done away with in case of exigency and emergent circumstances
  7. Lodging & Boarding expenses and diem allowance for 15 days proposed.

DATE OF SANCTION OF ANNUAL INCREMENTS:

Increments falling due between 1 January to 30 June should be sanctioned on 1stJanuary of the year itself. Increments falling due between 1st July to 31stDecember should be sanctioned on 1 July of the year itself. (In tune with 7 Pay Commission)

Running Scale:

As promotion depends on vacancy done, everyone eligible do not get promotion. Hence there should be a running scale without stagnation.

PERQUISITES, OTHER ALLOWANCES AND WELFARE FACILITIES:

The perquisites and other allowances as well as welfare facilities provided by the banks and settled at the industry level should not be reckoned for the purpose of arriving at the cost of wage revision. It is an essential area of functional expenditure, as in the case of business promotion in other sectors of the economy. We should strive for parity in allowances, welfare facilities and perquisites. We therefore propose that the Bank should bear the tax on perquisites.

POST ALLOWANCE:

Post allowance should be reintroduced in order to provide incentive for officers for working in the most competitive sector, to compensate him for taking additional load on account of diversification, technology initiative etc., i. 25% of the Basic Pay should be paid as post allowance to all designated officers viz., Branch Managers, Divisional Managers, etc., ii. 20% of the basic to other officers.

RISK ALLOWANCE :

Risk Allowance should be introduced to provide cover to all lending risks to all sanctioning authorities at all grades as present dynamics of banking involves various types of risks beyond the normal prudence of banking.

Differently abled:

A special care and allowance should be paid to the differently abled in terms of the Govt of India guidelines

Disturbed Area Allowance :

Disturbance Area Allowance of 20% of Basic Pay should be paid to officers working in the branches which comes under disturbed area and Terrorist prone areas called as The Red Corridor.

 

MEDICAL REIMBURSEMENT:

HOSPITALISATION CHARGES:

We have to switch over to the earlier scheme with improvement. Family also should be provided 100% reimbursement. Medical reimbursement should be exempted from tax, as it is not an income. Taxing medical reimbursement is a huge burden to the convalescing officer. IBA should take necessary steps to achieve this.

Medical Check Up

Considering the stress and strain as well as the increasing health hazards, we need Master Health Check-up for the officer and his / her spouse once in two years if the officer’s age is less than 50 and every year if the officer crosses 50 years of age. This will actually keep them fit and reduce the expenditure for the Bank.

LEAVE FARE CONCESSION:

We need to review the existing scheme in a comprehensive manner.

The entitled mode of travel should be made as air travel to all officers For Senior Management Cadre it should be executive class.

The encashment of leave fare concession should be the actual expenditure he / she would have incurred had the officer travelled actually by entitled class.

RBI and NABARD provide Rs107000 per head to officers upto E grade and for F grade and above Rs 160000. The same can be extended to our officers.

Foreign Travel to be allowed within the entitlement upto the maximum distance permissible in India. The IBA should take up with the Government and seek exemption from payment of income tax whenever the amount is drawn on the basis of reimbursement.

HILL AND FUEL ALLOWANCE & SPECIAL AREA ALLOWANCE:

Since the Bank officers are paid either of the Hill & Fuel allowance or Special Area Allowance and both are not paid in case of payment of Adhoc Temporary Incentive for officers posted in North East ( popularly known as North East Allowance). In Central Government Special Compensatory/Remote Locality allowance (Special Area Allowance in our case) is paid in addition to special duty allowance (Adhoc Temporary Incentive for officers posted in North East in our case). The North East Allowance as being paid @ 20 % of Basic pay the rate of both the allowances should be suitably revised as prevailing in Central Government. The rates of this allowance shall automatically increase by 25% whenever the Dearness Allowance payable on revised pay structure goes up by 50%

DEPUTATION ALLOWANCE:

There is no uniformity in payment of deputation allowance paid to bank officers. The allowance should be suitably revised and made uniform in the industry.

EXGRATIA:

The concept of minimum exgratia should be reintroduced in a rational manner. Exgratia is now available to all the Employees in Private Sector Banks, Foreign Banks etc., which has created a serious differential in the emoluments between the workforce in the Public Sector and other sectors. It is also prevalent in Govt. Sector such as Railways/ Postal and in Public Sector Undertakings and paid during festivals. Hence, an amount equivalent to not less than one month’s gross salary should be paid as exgratia to all.

COMMERCIAL BANKING ALLOWANCE:

In view of the onerous responsibilities of conducting commercial banking operations involving risk, officers should be paid Commercial Banking Allowance as prevailing in the Reserve Bank of India. (Central Banking Allowance)

 

5 thoughts on “11th Bipartite Wage Settlement : Charter of Demands: Other Allowances and Benefits

  1. Apart from above officers basics should be at par with class one officers. If any complain or anything like Investigation from vigilance angle the investigation should be done by other higher officers not with the zone or related regions I. E independent officers so that personal or any biased decision can be avoided

  2. No mention of Retirees Concerned. Merging of DA. Revision of pension alongwith CG pensioners.justifiable demands be put in COD

  3. Pension amount anomaly of existing pensioners should be cleared as pensioners are getting 1/3rd less amount in pension now.
    They should be paid full amount.

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