12th BIPARTITE SETTLEMENT

DATED 08-03-2024

Conclusion of Discussions between

Indian Banks’ Association and Workmen Unions
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MEMORANDUM OF SETTLEMENT dated 8th March, 2024 between the Managements
of 25 Banks who mandated for bi-partite settlement between the Indian Banks’
Association and their workmen as represented by the All India Bank Employees’
Association, National Confederation of Bank Employees, Bank Employees Federation
of India, National Organisation of Bank Workers and Indian National Bank Employees’
Federation.

[Under Section 2(p) and Section 18(1) of the Industrial Disputes Act, 1947 read with
Rule 58 of the Industrial Disputes (Central) Rules, 1957]

Names of the Parties 25 Banks which are listed in Schedule I to this

Memorandum of Settlement and their workmen
Representing the
Employers 1. Shri. M V Rao
2. Shri. Shanti Lal Jain
(Member Banks) 3. Shri. Rakesh Sharma
4. Shri. Rajneesh Karnatak
5. Shri. Binod Kumar Mishra
6. Shri. Sunil Mehta
7. Shri. Gopal Murli Bhagat
8. Shri. Brajeshwar Sharma
Duly authorized on behalf of the Indian Banks’
Association
Representing the All India Bank Employees’ Association
Workmen 1. Shri. Rajen Nagar
2. Shri. C.H. Venkatachalam
3. Shri. B.S. Rambabu
4. Shri. P.R. Mehta
5. Shri. J.P. Sharma
6. Shri. Partha Chanda
7. Shri. N. Shankar
8. Shri. D.R. Tuljapurkar
9. Smt. Lalitha Joshi
10. Shri. S.D. Srinivasan
11. Shri. Anirudh Kumar
12. Shri. A.M. Pereira
13. Shri. Rajnesh Gupta
14. Shri. B. Ramprakash

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 15. Shri. M.P. Singh
16. Shri. M. Jayanath
17. Shri. J.J. Dholakia
18. Shri. V. Udayakumar
19. Shri. K. Srikrishna
20. Shri. Naveen Kumar Modi
21. Shri. Nandakumar Chavan
National Confederation of Bank Employees
1. Shri. R. Balaji
2. Shri. Sanjeev Kumar Bandlish
3. Shri. Arun Bhagoliwal
4. Shri. Pradip Kumar Baishya
5. Shri. G. Kripakaran
6. Shri. R. Sriram
7. Shri. L. Chandrasekhar
8. Shri. Milind Nadkarni
9. Shri. Rajesh Kumar Singh
10. Shri. Rakesh Pandey
11. Shri. Anil P. Davar
12. Shri. M. Ravi Kumar
13. Shri. Shivprasad P. Bhamare
14. Shri. Anzil K.N.
15. Shri. Abhoy Deo Sharma
16. Shri. Kshitij Pathak
17. Shri. Raju Kumar Singh
18. Shri. Chittaranjan Panda
19. Shri. Sudip Dutta
20. Shri. Pankaj Kaushik
21. Shri. Dinesh Kumar Singh
22. Shri. Akhil S
23. Shri. Rishi Kumar Upadhyay
24. Shri. Rajesh Kumar Kaushal
Bank Employees Federation of India
1. Shri. S S Anil
2. Shri. Debasish Basu Chaudhury
3. Shri. Harirao S
4. Shri. Manodip Ghosh
5. Shri. R Ajaya Kumar
6. Shri. Narendra Kumar Nayak
7. Shri. Ranjan Raj
8. Smt. Vinitha P H

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National Organisation of Bank Workers

1. Shri. K Vinod Kumar

2. Shri. Man Mohan Das
3. Shri. Anand Ayyappan
4. Smt. Archana Sowani
5. Shri. Prabhakar Awasthi
6. Shri. Gautam Kulkarni
7. Shri. Sunil Singh
8. Shri. T Raghu Ram
9. Shri. Keertivardhan Singh
10.Shri. Zakir Hussain
Indian National Bank Employees Federation
1. Shri. Om Prakash Sharma
2. Shri. Narendra Tehri
3. Shri. Siddharth Menon
4. Shri. Ishwar Sanjeev Puthran
5. Shri. Narsimha Murthy M.K
6. Shri. Shubhendra Bhandarkar
7. Shri. Arun Kumar Mishra
8. Shri. Snehal R Petkar

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 SHORT RECITAL OF THE CASE

(A) The Indian Banks’ Association (IBA) on behalf of its member banks named in
the Schedule I hereto, signed a settlement dated 11 th November, 2020 with
the All India Bank Employees’ Association (AIBEA), National Confederation of
Bank Employees (NCBE), National Organisation of Bank Workers (NOBW) and
Indian National Bank Employees Federation (INBEF) representing the workmen
employees of the Banks mentioned in the said Schedule I, inter alia regarding
various terms and conditions of their service. The Settlement dated 11 th
November, 2020 was operational for a period of 5 years from 1st November
2017.

(B) The AIBEA, NCBE, NOBW and INBEF (hereafter jointly called the Unions)
submitted their Charter of Demands dated 21st October, 2022 for revision in
wages and other service conditions of workmen to IBA and requested for
negotiations on the same, with a view to arrive at an amicable settlement.
(C) Bank Employees Federation of India, who were not a party to the Settlement
dated 11th November, 2020, vide their letter dated 21 st August, 2023 endorsed
the Settlement dated 11th November, 2020 and agreed not to seek reopening of
any of the provisions of the Settlement and also submitted a charter of
demands.

(D) Simultaneously, IBA also raised with the Unions, issues on behalf of the
managements of banks concerned, to be discussed and settled with a view to
improving efficiency of operations in banks.

(E) The parties agreed that the total quantum of wage revision increase (Payslip
component) shall be Rs. 4165 crores being 17% of the cost of Payslip
component of establishment expenses of Public Sector Banks for the financial
year ending March 2022, which are parties to this settlement. It was further
agreed that the new scale of pay would be constructed, after merging Dearness
Allowance corresponding to 8088 points. All other issues of the Management
and Workmen Unions discussed during the process of negotiations would be
settled to the mutual satisfaction. The parties also signed and exchanged
minutes recorded as MoU in this regard on 7 th December, 2023 at Mumbai.

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(F) The parties negotiated the aforesaid demands and issues and have reached an
agreement as set out hereinunder in full satisfaction of their demands.

(G) The agreement reached as aforesaid shall amend, modify and supersede the
relevant provisions of the Awards and Settlements wherever referred to in this
Settlement.

NOW, IT IS HEREBY AGREED AND DECLARED by and between the parties

hereto as under:-

TERMS OF THE SETTLEMENT

GENERAL

1. In respect of 25 Banks listed in Schedule 1 to this Memorandum of Settlement,

except the State Bank of India, Indian Overseas Bank and Bank of Baroda, the
provisions of the Sastry Award in Reference No. S.R.O. 35 dated 5 th January
1952, notified on 26th March 1953 as finally modified and enacted by the
Industrial Disputes (Banking Companies) Decision Act, 1955, the Industrial
Disputes (Banking Companies) Decision Amendment Act, 1957 and the
provisions of the Award of the National Industrial Tribunal presided over by Mr.
Justice K T Desai in Reference No.1 of 1960 which Award inter alia modified
certain provisions of the Sastry Award (hereinafter referred to as the Awards)
as modified by the settlements dated 19 th October, 1966, 12th October, 1970,
23rd July, 1971, 8th November, 1973, 1st August, 1979, 31st October, 1979,
21st April, 1980, 8th September, 1983, 17th September, 1984, 5th January,
1987, 10th April, 1989, 29th June, 1990, 16th July, 1991, 29th October, 1993,
14th February, 1995, 14th December, 1996, 28th November, 1997, 27th March
2000, 10th April 2002, 2nd June 2005, 27th April 2010, 25th May, 2015, 11th
November, 2020 and 10th December, 2020 shall continue to govern the service
conditions except to the extent the same are modified by this settlement.

2. (i) In respect of State Bank of India, the provisions of the Awards as modified
by the Settlements dated 31st March, 1967, 24th February, 1970, 15th
September, 1970, 1st August, 1979, 31st October, 1979, 21st April, 1980,
8th September, 1983, 17th September, 1984, 5th January, 1987, 10th April,
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 1989, 29th June, 1990, 16th July, 1991, 29th October, 1993, 14th February,
1995, 14th December, 1996, 28th November, 1997, 15th September, 1998,
27th March 2000, 10th April 2002, 22nd July 2003, 2nd June 2005, 27th April
2010, 25th May, 2015, 11th November, 2020 and 10th December, 2020
shall continue to govern the service conditions of the workmen except to
the extent the same are modified by this settlement.
(ii) In respect of Bank of Baroda, the provisions of the Awards as further
modified by the Settlements dated 23 rd December, 1966, 19th December,
1970, 1st August, 1979, 31st October, 1979, 21st April, 1980, 8th
September, 1983, 17th September, 1984, 5th January, 1987, 10th April,
1989, 29th June, 1990, 16th July, 1991, 29th October, 1993, 14th
February, 1995, 14th December, 1996, 28th November, 1997, 27th March
2000, 10th April 2002, 2nd June 2005, 27th April 2010, 25th May, 2015,11th
November, 2020 and 10th December, 2020 shall continue to govern the
service conditions of the workmen except to the extent the same are
modified by this settlement.
(iii) In respect of Indian Overseas Bank, the provisions of the Awards as
further modified by the Settlements dated 14 th December, 1966, 17th
December, 1970, 29th July, 1972, 23rd March, 1973, 1st August, 1979, 31st
October, 1979, 21st April, 1980, 8th September, 1983, 17th September,
1984, 5th January, 1987, 10th April, 1989, 29th June, 1990, 16th July, 1991,
29th October, 1993, 14th February, 1995, 14th December, 1996, 28th
November, 1997, 27th March 2000, 10th April 2002, 2nd June 2005, 27th
April 2010, 25th May, 2015, 11th November, 2020 and 10th December,
2020 shall continue to govern the service conditions of the workmen
except to the extent the same are modified by this settlement.
(iv) In respect of State Bank of India, Bank of Baroda and Indian Overseas
Bank, Settlements referred to in Clauses 2(i), (ii) and (iii) above refer to
settlements entered into between State Bank of India, Bank of Baroda and
Indian Overseas Bank with the All India State Bank of India Staff
Federation, All India Bank of Baroda Employees’ Federation and the All
India Overseas Bank Employees’ Union, respectively, representing the

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 workmen of those banks (hereinafter referred to as the said separate
settlements).

3. (i) The provisions of the said Awards, the First Bipartite Settlement
dated 19 th October, 1966 and/or other subsequent settlement(s)
including the above-mentioned separate settlements hereinafter
collectively referred to as said settlements shall stand modified or
superseded to the extent and in the manner detailed hereunder.
(ii) Provisions in the aforesaid Awards/Settlements which have not been
amended/ modified or superseded by this Settlement shall continue to
remain in force.

4. Improvement in productivity, efficiency and customer services

While discussing the charter of demands submitted by the unions for revision in
wages and improvements in service conditions, both IBA and the Unions took
note of the changes taking place in the fast changing banking scenario which
are posing multiple challenges to the Banks. Banks have an important role to
play in boosting economic growth and hence Banks have become the pivot of
economic development. It is observed that banking practices have undergone a
sea-change especially with the advent of technology based digital banking
services. Hence there is a need and necessity for the Banks in general and the
workforce in particular to understand, assimilate and adopt these changes by
updating and equipping themselves to these changed requirements in order to
sustain the effectiveness of banking services in the emerging scenario. Banking
services and products have to be dynamic to meet the ever-changing
requirements and expectations of the customers and banking public. In this
background, constantly upgrading the skill-levels of the workforce becomes
imperative in order to ensure improvement in productivity, efficiency and
customer service. Keeping this in view, managements and unions/associations
shall endeavour to work towards these objectives.

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In view of the above, the parties herein felt the need and accordingly the
revised role, duties & powers have been agreed upon as provided in Schedule
II.

5. Scales of Pay
In modification of Clause 4 of Bipartite Settlement dated 11th November,
2020, with effect from 1st November 2022 the scales of pay shall be as
under: -

Clerical Staff

1340 1650 2000 2340

24050 28070 33020 41020
3 3 4 7

4400 2680
57400 61800 64480 (20 years)
1 1

Subordinate Staff

665 830 990 1170

19500 22160 26310 30270
4 5 4 3

1345
33780 37815
3 (20 years)

Note:
a) Fitment in the new scales of pay shall be on a stage-to-stage basis

b) There shall be no change in the dates of annual increments because of the

fitment.

c) In the case of Ex-servicemen category employees who have joined the

Banks on and after 1st November 2022

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 i. And have been issued adhoc / provisional fitment, shall be refixed as
per the provisions of this settlement with protection of emoluments
as per last drawn pay in the Services.

ii. And in other cases, where regular fitment has been issued, their
Basic pay in the revised scales shall be refixed in the same manner
as mentioned in Clause (a) above.

iii. and in both the cases, there shall not be any recovery of excess
emoluments paid on this account, if any.

d) The fitment Chart is given in Schedule III

6. Stagnation Increments
In partial modification of Clause 5 of Bipartite Settlement dated 11th
November, 2020, both clerical and subordinate staff (including permanent part-
time employees on scale wages) shall be eligible for eleven stagnation
increments w.e.f. 1st November 2022 at the rate and frequency as stated
herein under:

The clerical and subordinate staff including permanent part-time employees on

scale wages on reaching the maximum in their respective scales of pay, shall
draw eleven stagnation increments at the rate of Rs. 2680/- and Rs.1345/-
respectively (pro rata in respect of permanent part-time employees) each due
under this settlement, and at frequencies of 2 years, from the dates of reaching
the maximum of their scales as aforesaid.

Provided further that a clerical / subordinate staff (including permanent part-

time employees on scale wages) already in receipt of nine stagnation
increments shall be eligible for the tenth stagnation increment from 1st
November, 2022 or two years after receiving the ninth stagnation increment,
whichever is later and draw the 11 th stagnation increment two years thereafter.

Provided further that those clerical/subordinate staff (including permanent part-

time employees on scale wages) shall be eligible for the eleventh stagnation

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 increment from 1st November, 2022 or four years after receiving the ninth
stagnation increment whichever is later.

In other words, 10th stagnation increment shall be released 2 years after

release of 9th stagnation increment and 11th stagnation increment shall be
released 4 years after release of 9 th stagnation increment. However, the
financial benefit of 10th and/or 11th stagnation increment shall be paid with
effect from 01.11.2022 or from the date of release of increment/s, whichever is
later.

Illustration:
Clerical / Subordinate staff Eligible for the Additional
(including permanent part-time Stagnation Increment with effect
employees on scale wages) from
Who were in receipt of 9th Stagnation 11th Stagnation increment from
increment from November 2018 & 01.11.2022
before
Who were in receipt of 9th Stagnation10th Stagnation increment from
increment between December 2018 01.11.2022 and 11th Stagnation
and October 2020 increment 4 years from the date of
release of 9th Stagnation increment
Who are in receipt of 9 Stagnation 10th
th
Stagnation increment from
increment from November 2020 & after 01.11.2022 or 2 years after receiving
the 9th Stagnation increment,
whichever is later and the
11 stagnation increment two years
th

thereafter

7. Definition of ‘Pay’
In reiteration of Clause 6 of the Bipartite Settlement dated 11th November,
2020, ‘Pay’ shall be defined as under:
For SBI, existing provisions to continue
i) ‘Pay’ components Eligible for
Basic Pay, Stagnation increments, Special Superannuation benefits -
Pay, Graduation Pay / Professional Provident Fund, Gratuity, Pension,
Qualification Pay, Officiating Pay, and and Defined contributory Pension
Increment component of Fixed Personal Pay Scheme (DCPS) / (NPS)

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 ii) ‘Pay’ components Eligible for
Basic Pay, Stagnation increments, Special Dearness Allowance
Pay, Graduation Pay/PQP, Officiating Pay,
Special Allowance, Transport Allowance

iii) ‘Pay’ components Eligible for

Basic Pay, Stagnation increments, Special House Rent Allowance
Pay, Graduation Pay / PQP, Officiating Pay

8. Change in designations:
With effect from 1st April, 2024, the following designations/nomenclatures will
be in vogue:

Existing Changed as
Clerk / SWO A and SWO B Customer Service Associate (CSA)
Head Cashier Senior Customer Service Associate
(Cash)
Special Assistant Special Customer Service Associate

Substaff / Peon Office Assistant

Bill Collector / Daftary Senior Office Assistant
Head Peon Special Office Assistant
Armed Guard Armed Guard/Security Guard
Driver Driver
Electrician/AC Plant helper Office Assistant (Tech)
Head Messenger in IOB Head Messenger in IOB
Sweeper/Safaikarmachari Housekeeper (HK)
Part time sweeper Part time Housekeeper / PTHK

9. Special Pay
In modification of Clause 11 of the Bipartite Settlement dated 11th November,
2020, with effect from 1st November 2022:

(i) The revised role and duties of clerical staff/Customer Service Associate /
Senior CSA (Cash) / Special CSA, Office Assistant and Special Pay posts

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 in subordinate cadre, shall be as provided in Part A of Schedule II of this
Settlement.

(ii) The Special Pay payable to the clerical staff and subordinate staff in
banks, shall be as provided under Part B in Schedule II to this
Settlement. The Special Pay as mentioned in Part B of Schedule II shall
rank for superannuation benefits.

(iii) The revised powers of Special Pay posts, other than in State Bank of
India, shall be as provided under Part C of Schedule II of this Settlement.

(iv) The rates of special pay and the revised role and duties of special pay
carrying posts for workmen staff in SBI may be reviewed and settled at
the bank level.

(v) It would be worked out separately in State Bank of India. An amount of

Rs. 77.39 crores is set apart for SBI out of the total allocation and SBI
will also allocate equal amount at their end for this purpose and shall
rank for superannuation benefits.

(vi) In all other aspects, the general rules and provisions contained in
Chapter V of the Bipartite Settlement dated 19 th October 1966 relating to
special pay carrying posts, as modified from time-to-time, shall continue
to apply.

10. Graduation Pay / Professional Qualification Pay

(i) With effect from 1st November 2022, Graduation Pay and Professional
Qualification Pay payable to the clerical staff and Subordinate staff in
banks shall be as mentioned in Part D of Schedule II to this Settlement.

(ii) The Graduation Pay and Professional Qualification Pay as mentioned in

Part D of Schedule II shall rank for superannuation benefits.

(iii) In reiteration of sub-clause (xv) of Clause 11 of the Bipartite Settlement

dated 11th November, 2020, a member of the non-subordinate cadre
acquiring a Graduate/National Diploma in Commerce or JAIIB/CAIIB
(either or both parts) qualification/s at a time when he/she does not have

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 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.

(iv) 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 case where the non-subordinate employee as on

the date of this Settlement, has already acquired or shall acquire
hereinafter 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.

(v) A member of the subordinate cadre acquiring 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 PQP. Release of subsequent

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 installments of PQP shall be with reference to the date of release of PQP
under this clause.

(vi) Provided that in the case of a subordinate cadre 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 PQP and the release of subsequent installments of PQP shall be with
reference to the date of release of PQP under this clause.

Provided further that in case where the subordinate cadre employee as

on the date of this Settlement, has already acquired or shall acquire
hereinafter JAIIB (Part-I) or CAIIB (Part-II) after reaching maximum of
the scale of Pay (in case of JAIIB/ CAIIB) or after reaching 19th stage of
scale of Pay (in case of CAIIB), 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.

11. Fixed Personal Pay

In partial modification of Clause XIV of Bipartite Settlement dated 29th October
1993, Clause 13 of Bipartite Settlement dated 27th March 2000, Clause 13 of
the Bipartite Settlement dated 2nd June 2005, Clause 13 of Bipartite
Settlement dated 27th April 2010, Clause 13 of Bipartite Settlement dated 25h
May, 2015, and Clause 13 of Bipartite Settlement dated 11 th November, 2020,
the Fixed Personal Pay shall be revised with effect from 1st November 2022 as
under:.
Total FPP
Total FPP payable
payable where Increment
where bank’s
Area of Posting bank’s Component of
accommodation
accommodation FPP
is not provided
is provided
(1) (2) (3) (4)
CLERICAL STAFF
At all Centres 3155 2880 2680

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 SUBORDINATE STAFF
At All Centres 1585 1445 1345
Note:

(i) Only employees who were in the service of the bank on or before 1st
November 1993 will be eligible for FPP, one year after reaching the maximum
scale of pay, they are placed in. Those who joined the Banks on or after 2 nd
November, 1993 are not eligible for FPP.

(ii) Increment component of FPP shall rank for superannuation benefits.

12. Officiating Pay

With effect from 1st April, 2024, In modification of Clause 9.11 (a) (i) and (ii) of
1st Bipartite Settlement dt. 19-10-1966 and Clause 29 of 8th Bipartite
Settlement dt. 2-6-2005, a workman employee officiating in the post of Clerk /
Officer in Junior Management Grade in Scale I, either for a continuous period of
4 days or more OR an aggregate of 4 days in a calendar month, shall be paid
Officiating Pay of 15% of the Basic Pay of the person officiating and the same
shall be payable pro-rata for each day of such officiating plus applicable
allowances.

13. Dearness Allowance

In substitution of Clause 7 of Bipartite Settlement dated 11th November, 2020,
with effect from 1st November 2022, the Dearness Allowance shall be payable
as per the following rates:-

Clerical and Subordinate Staff

1.00 % of ‘pay’ per percentage point of Index.

Note:

Dearness Allowance in the above manner shall be paid for every variation of
rise or fall over 123.03 points in the quarterly average of the All India
Consumer Price Index for Industrial Workers Base 2016=100. i.e., 0.01%

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change in DA on ‘pay’ for change in every second decimal place of CPI 2016
over 123.03 points.

The change in the Dearness Allowance rate will be released on a quarterly basis
on 1st May, 1st August, 1st November and 1st February based on the following:

D.A release Quarterly average of CPI

Applicable for the month
date points of the months
1st May January, February and March May, June and July
1 August
st
April, May and June August, September and October
1st November July, August and September November, December and
January
1st February October, November and February, March and April
December

(a) It is clarified that there shall be no ceiling on Dearness Allowance.

(b) All other existing provisions relating to Dearness Allowance Scheme shall
remain unchanged.
(c) While working out quarterly average up to first two decimals will be
considered.

14. House Rent Allowance

In continuation / partial modification of Clause 8 of the Bipartite Settlement
dated 11th November, 2020, with effect from 1st November 2022, the House
Rent Allowance payable to subordinate and clerical staff shall be as under:

Rate as percentage of ‘Pay’

Area
[No Minimum/ No Maximum]

10.25 %
At all centres

Note:
(1) ‘Pay’ means as defined in Clause 7 of the Settlement hereinabove.
(2) Where quarters are provided, HRA shall not be payable and the rent to
be recovered shall be 0.15 % of the first stage of the Scales of Pay.

17
(3) All other existing provisions relating to House Rent Allowance shall
remain unchanged.
Provided further that when a workman employee is transferred out of the
station other than on account of request, he/she may, in lieu of HRA as above,
claim reimbursement of house rent upto 150% of HRA otherwise payable and
subject to submission of self-declaration for having incurred the said amount.

15. Special Allowance

In modification of Clause 9 of the Bi-partite Settlement dated 11.11.2020, with
effect from 1.11.2022, workmen employees shall be paid Special Allowance as
under:

- 26.50 % of the Basic pay with applicable DA thereon

Note: The Special Allowance with applicable DA thereon shall not be reckoned
for superannuation benefits viz., pension including contribution to NPS, PF &
Gratuity.

16. Transport Allowance

In partial modification of Clause 10 of the Bipartite Settlement dated 11th
November, 2020, with effect from 1st November, 2022, Transport Allowance
shall be paid as under;

All Clerical and Rs. 850 per month

Subordinate Staff with applicable DA thereon
Note :

(i) The Transport Allowance with applicable DA thereon shall not be

reckoned for superannuation benefits viz., pension including contribution
to DCPS (NPS), PF & Gratuity.
(ii) This provision by itself will not preclude the payment of any existing
allowance of this nature paid as a result of Government guidelines/bank
level settlements.

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(iii) Conveyance Allowance payable to employees who are persons with
benchmark disability (PwBD) shall be over and above the Transport
Allowance payable as above.

17. Compensation for losses due to breakage or damage to goods on

Transfer

In modification of Clause 25 of Bipartite Settlement dated 11 th November,

2020, with effect from 1.4.2024, compensation on transfer, shall be as under: -

a. Where an employee produces receipts or a statement of loss in respect of

breakages subject to a maximum of:
Clerical Staff : Rs.2,000/-
Subordinate Staff : Rs.1,400/-
b. Where no receipts/statement of loss are produced, a lumpsum payment of:
Clerical Staff : Rs.1,400/-
Subordinate Staff : Rs. 1,000/-

18. Halting Allowance

a) In modification of Clause 26 of the Settlement dated 11 th November, 2020,

with effect from the date of this settlement, halting allowance shall be payable
at the following rates for the days spent on duty outside the headquarters and
where Lodging expenses are not claimed / reimbursed:

(A) (B) (C)

Places with
Places with
population of 5 lakhs
population of
and above, State
12 lakhs and Other Places
Capitals/ Capitals of
above and
Union Territories not
States of Goa
covered in column (A)
Rs. 1500/- per Rs. 1000/-per
Clerical Staff Rs. 1350/-per diem
diem diem

Subordinate Rs. 1100/- Rs.900/- Rs.600/-

Staff per diem per diem per diem

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b) Provided that an employee can also claim lodging expenses reimbursement
by production of hotel rent receipt subject to ceilings prescribed hereunder:

(A) (B) (C)

Places with Places with population

population of of 5 lakhs and above,
Other
12 lakhs and State Capitals/ Capitals
Places
above and of Union Territories not
States of Goa covered in column (A)
Rs.3000/- Rs.2500/- Rs.2000/-
Clerical Staff per day per day per day
Subordinate Rs.1500/- Rs.1250/- Rs.1000/-
Staff per day per day per day

c) Provided further that in such cases of reimbursement of hotel rent, boarding

charges at 35% of the halting allowance shall be payable.

d) In centres / stations with population of 12 lacs and above, halting allowance

as provided under (a) above shall be payable to an employee upon
deputation to another office / branch, within the same municipal limits /
urban agglomeration, if the distance of such deputation is 20 km and more
from the parent branch / office.

19. Washing Allowance

In supersession of Clause 27 of Bipartite Settlement dated 11th November,

2020, with effect from 1st April, 2024, washing allowance shall be payable at
Rs.200/- p.m., where the washing of livery is not arranged by the bank.

20. Cycle / Two wheeler Allowance

In supersession of Clause 28 of Bipartite Settlement dated 11th November,

2020, w.e.f. 1st April, 2024, cycle/two wheeler allowance is payable to the

20
members of the subordinate staff who are required to use a cycle/two wheeler
on regular assignment for outdoor duties at Rs.150/- p.m. at all centers.
This allowance would not be paid to workman member of the subordinate staff
entitled to the allowance for the period of leave where such leave exceeds 30
days.

21. Deputation Allowance:

Deputation Allowance shall be at the following rates with effect from the date of
this Settlement.:
A workman employee deputed to serve outside 7.75% of Pay with a
the bank to an organization in a different place maximum of Rs. 3750/-
other than the present place of posting per month
A workman employee deputed to another 4% of Pay with a
organization at the same place or to the training maximum of Rs.1875/-
establishment not owned by the bank per month

22. Hill and Fuel Allowance

In partial modification of Clause 12 of the Bipartite Settlement dated 11 th
November, 2020, the Hill and Fuel Allowance shall be payable at the following
rates with effect from 1st November 2022:

a. At places situated at a height of 3000 8% of pay

meters and above (Max. Rs. 2850/-p.m.)
b. At places situated at a height of and over 4% of pay
1500 meters but below 3000 meters (Max. Rs.1150/-p.m.)
c. At places situated at a height of over 1000 3 % of pay
meters but less than 1500 meters and (Max. Rs. 950/-p.m.)
Mercara Town
Note: All other existing provisions shall remain unchanged.

23. Special Area Allowance

In supersession of all earlier provisions relating to Special Area
Allowance, w.e.f. 1st November 2022, Special Area Allowance shall be
payable at places specified in column 2 of the Schedule IV hereto, as

21
 per the quantum indicated in column 3 thereof against each such place,
subject to the condition that if at any of the places mentioned in column
2 of Schedule IV hereto, Hill and Fuel Allowance is payable in terms of
this Settlement, then at such places only higher of the two allowances
shall be payable.

24. Payment of Overtime Allowance

a) The overtime allowance paid to the employees for the overtime work
performed before the date of this settlement shall not be recalculated on
account of this Settlement.
b) In partial modification of Clause 14.16 (b) of Settlement dated 19-10-1966,
for the purpose of calculating the amount of overtime work, the expression
“emoluments” shall mean aggregate of Basic Pay including Stagnation
increment, Special Pay, PQP, Special Allowance, Transport Allowance and DA
thereon, HRA and FPP.

25. Medical Aid

(i) In partial modification of Clause 20 of the Bipartite Settlement dated 11th
November, 2020, with effect from 1st November 2022, the
reimbursement of medical expenses under medical aid scheme shall be
restricted to an amount of Rs.2830/- per annum.
(ii) For the calendar year 2022, the reimbursement of medical expenses
under the medical aid scheme shall be enhanced proportionately for two
months i.e. November and December 2022.
(iii) All the Banks to evolve and implement a scheme for periodical health
checkup of all employees wherever it is not available.
(iv) All employees shall be allowed reimbursement of Rs. 500 per year
towards annual eye check-up

22
26. Leave Rules (w.e.f 01.04.2024)

(i) As provided in clause 13.4 of the settlement dated 19th October, 1966, a
provision will be put in place to record the reason for refusal or
postponement of leave by the management.

(ii) a) In partial modification of clause 36 (b) of settlement dated 11th

November, 2020, a single male parent can avail sick leave for the
sickness of his child of 8 years and below subject to production of
medical certificate.

(b) Employees can avail sick leave for the sickness of their Special Child
of 15 years and below for a maximum period of 10 days in a calendar
year subject to production of medical certificate.

(iii) In partial modification of clause 36(b) of settlement dated 11th

November, 2020, women employees shall be allowed to take one day
Sick Leave per month without production of medical certificate.

(iv) In partial modification of clause 36(b) of settlement dated 11th

November, 2020, in case of employees of the age of 58 years and above,
sick leave may be granted towards hospitalization of the spouse at a
centre other than the place of work and for a maximum period of 30 days
in a calendar year.

(v) In partial modification of clause XI of settlement dated 17th September,

1984, clause 6 of settlement dated 28th November, 1997 and clause 36
of settlement dated 11th November, 2020, an employee shall be granted
sick leave at the rate of one month for each year of service subject to a
maximum of 720 days during the entire service.

(vi) In partial modification of clause 34 of settlement dated 11 th November,

2020, the following shall be added as Note 3.

“In case of delivery of more than two children in one single delivery,
Maternity Leave shall be granted upto 12 months.

23
(vii) Employees shall be granted Bereavement Leave on the demise of the
family members (spouse, children, parents and parent-in-law) and
number of days of such leave shall be decided by each Bank at their
level. The intervening holidays will form part of the leave and
bereavement leave should be availed within a maximum period of 15
days of the demise. This leave will not be considered as “Active Service”
as detailed in clause V (i) of settlement dated 8th November, 1973 for the
purpose of Privilege leave calculation.

(viii) In partial modification of clause V (i) of settlement dated 8 th November,

1973, for calculating privilege leave, all types of leave availed except
casual leave and mandatory leave will be excluded.

(ix) In partial modification of clause 35 of settlement dated 2nd June, 2005,

Principal Office bearers of All India Workmen Unions/Associations shall be
granted Special leave upto 25 days in a calendar year.

(x) In partial modification of clause 33 of settlement dated 11 th November,

2020, advance notice of 10 days for availing privilege leave be waived for
office bearers and Executive Committee members of a registered trade
union.

(xi) Employees who are Defence Representatives in departmental enquiry

proceedings may be granted one day special leave for the purpose of
preparing the defence submissions of an employee. Such special leave
shall be granted for a maximum of ten occasions in a year.

(xii) In partial modification of clause 34 (d) of settlement dated 11 th

November, 2020, Maternity Leave shall be granted once to a female
employee for a maximum period of 9 months, for legally adopting a child
who is below one year of age, all other conditions remaining the same.

(xiii) In partial modification of clause 34 of the settlement dated 11th

November, 2020, Maternity Leave may be granted for In vitro fertility
(IVF) treatment subject to production of medical certificate, within the
overall limit of 12 months.

24
(xiv) In partial modification of clause 33 of settlement dated 25 th May, 2015, 2
days of Casual leave may be availed for half a day on 4 occasions in a
year out of which 2 occasions would be in the morning and 2 occasions in
the afternoon.

Note:

a. Casual Leave under this category can be availed after applying 24

hours in advance.

b. At the time of carrying over the balance in Casual Leave to

Unavailed Casual Leave account, the fraction in the balance if any,
shall be ignored.

(xv) Special maternity leave upto 60 days shall be granted in case of still born
or death of the infant within 28 days of birth.

(xvi) In partial modification of clause 15 of settlement dated 31 st October,

1979 and clause 9 of settlement dated 29th June, 1990, accumulated
privilege leave may be encashed upto 255 days at the time of
retirement/upon death of an employee while in service.

27. Leave Bank Scheme:

Looking to the contingencies where some of the employees get affected with
very major ailments like cancer, cerebral stroke, paralysis, major organ
transplantation, end stage liver disease, kidney failure, etc., or on account of
major accidents, where the hospitalization, treatment and convalescence is
prolonged and where in such cases, employees are absent from office on
medical grounds for prolonged periods and have exhausted all the leave to their
credit and hence are under compulsion to seek grant of extraordinary leave
without pay, it has been agreed in principle to evolve a staff welfare scheme
under which provision would be made for voluntary encashment of Privilege
Leave by the employees and the monetized value of such leave would be
pooled under a Leave Bank system in each Bank out of which, special leave
would be sanctioned to the employees affected by such contingencies.

25
 A proper Scheme would be discussed and formulated by the IBA for
implementation by the Banks within 90 days.

28. Leave Fare Concession

(i) In partial modification of Paragraph 22 of Bipartite Settlement dated 11 th

November, 2020, with effect from the date of this Settlement, leave fare
concession payable will be the actual return railway fare or steamer fare
incurred by the workman and members of his family subject to the
following:

a) For availment of leave fare concession under a 2 year block for visit to
any place within India, the maximum permissible distance shall be
2700 kms. (one way) for the subordinate staff and 2350 kms. (one
way) for non-subordinate staff.
b) For availment of leave fare concession under a 4 year block for visit to
any place in India, the maximum permissible distance shall be 5400
kms. (one way) for subordinate staff and 4700 kms. (one way) for
non-subordinate staff.
c) Reimbursement of fare by special trains like Rajdhani/ Shatabdi/
Tejas/ Vande Bharat/Amrit Bharat, etc. (except luxury trains) shall be
allowed.
d) Where an employee has applied for LFC/leave as per stipulated time
and the same is sanctioned and when advance booking of train tickets
is not possible, tickets purchased under Tatkal/Premium tatkal will be
reimbursed.
e) Where an employee has applied for LFC/leave in advance and has also
booked the tickets and the LFC is declined or deferred by the
management, the cancellation charges will be reimbursed by the Bank.

Note : While availing LFC, break-in journey shall be permitted upto

two times in the overall journey and train fare actually incurred by the
employee upto the entitled distance shall be reimbursed.

26
 f) LFC facility for an escort accompanying an employee with benchmark
disabilities:
LFC facility shall be allowed for an escort who accompanies an
employee with benchmark disabilities on the journey subject to
following conditions:
i. Prior Approval of the competent authority is obtained on each
occasion.
ii. The nature of Physical disability of the employee is such as to
necessitate an escort for the journey. In case of doubt, the
decision of the head of the Department/Controller will be final.
iii. The employee with such benchmark disabilities does not have an
adult family member as dependent to accompany him/her.
iv. The employee with such benchmark disabilities and the escort
shall avail of the concession, if any, in the Rail/Bus fare as might
be extended by Railways/State Roadways authorities in such
cases.
v. Any other person who is entitled to LFC as dependent does not
accompany the employee with such benchmark disabilities on the
journey.
g) All employees will be given an opportunity to exercise an option within
g

90 days from the date of this Settlement to avail LFC under two
years/four years block as the case may be. If no option is exercised
within the stipulated period, the earlier option will continue to be
operative.

29. Definition of ‘Family’:

With effect from 01.04.2024, in partial modification of clause 18 of BPS dated

25-5-2015 and Clause 21 (ii) of the settlement dated 11th November, 2020 for
the purpose of medical facilities and for the purpose of LFC, the expression
‘family’ of an employee shall mean:

i. the employee’s spouse,

27
ii. wholly dependent unmarried children (including step children and legally
adopted children)

iii. wholly dependent physically and mentally challenged brothers / sisters with
40% or more disability,

iv. widowed daughters and dependent divorced / separated daughters,

v. sisters including unmarried/ divorced/ abandoned or separated from

husband/ widowed sisters,

vi. parents wholly dependent on the employee.

Provided that in the case of physically and mentally challenged children

irrespective of age, they shall be construed as dependents even after their
marriage subject to however fulfilling the income criteria for dependent.

The term wholly dependent family member shall mean such member of the
family having a monthly income not exceeding Rs.18,000/-.

If the monthly income of the parents exceeds Rs.18,000/- or the aggregate of

monthly income of both the parents exceeds Rs.18,000/-, both the parents
shall not be considered as wholly dependent on the employee.

Note:

i. For the purpose of medical expenses reimbursement scheme, and Leave

Fare Concession, for all employees, any two of the dependent father,
mother, father-in-law, mother-in-law shall be covered. The employee will
have the choice to substitute either of the dependents or both once in a
calendar year.

ii. For the calendar year 2024, for the purpose of medical insurance scheme /
policy, the revised monthly income criteria of dependents shall be effective
from 01.10.2024.

30. Reimbursement of expenses on Road Travel

In modification of Clause 32 of Bipartite Settlement dated 11 th November, 2020,

w.e.f. 1.4.2024, where an employee has to travel on duty between two places,
28
he shall be reimbursed actual cost in case of travel by public transport or at
Rs.11/- per k.m. plus toll fees, if any, if travel by own vehicle.

For the purpose of LFC, while travelling by own vehicle, the employee shall be
reimbursed a maximum of Rs.11/- per k.m. plus toll fees if any, per vehicle.
Other existing provisions to continue.

31. Hospitalisation
I. In reiteration of clause 20 of the bipartite settlement dated 25 th May,
2015 and as further modified by Clause 23 of the Bipartite Settlement
dated 11th November, 2020, the reimbursement of hospitalisation
expenses under the Group Medical Insurance Scheme shall continue to
be as same as provided therein. Further improvements in the Scheme
would be discussed between the parties and finalised within 90 days.

II. In respect of the Scheme applicable to the retired employees, the

following modifications in the Scheme have been incorporated in terms of
the minutes of Understandings signed between the parties/UFBU on 19th
July, 2023 with effect from 1 st November, 2023.

a) The scheme applicable to retired employees and officers will be a

separate scheme.

b) Based on this, a separate scheme worked out by and between the

parties, the benefits of which would accrue accordingly for retired
employees and officers.

c) IBA would float tenders/RFP based on this separate revised scheme for
the retired employees and officers.

d) The scheme and terms as applicable to in-service employees/officers will

henceforth not be applicable to the retired employees and officers.

e) Under this Scheme, the sum insured under the uniform base policy would
be Rs. 2 lacs.

29
 f) Stand-alone ceilings will not affect claims payable in other procedures
covered under the policy.

g) The bidder will also quote separate premium for those retirees, where the
policy cover only one person

h) The above separate scheme/Base Policy for the retired employees and
officers would be based on the following :-

i) Bed Charge/room rent/Boarding expenses per day :

Metro/Urban centres Rs. 3000

Other centres Rs.2500
ii) ICU Charges per day :

Metro/urban centres Rs.6000

Other centres Rs.5000

iii) Standalone Ceiling/cap on treatments :

Treatment Max.
reimbursement
High fever, typhoid, jaundice, other ailments, etc. Rs. 40,000 max.
requiring hospitalization

Coronary Angiogram Rs.16,000

Angioplasty Rs.1,00,000

CABG – bypass surgery Rs.2,00,000

Open heart surgery for valve replacement Rs.2,00,000

Cataract Rs.30,000

Cost of intra-ocular lens Rs.10,000

Knee Replacement Rs.1,00,000

Lithotripsy – multi sitting - kidney stone removal Rs.35,000

Hip replacement Rs.1,00,000

Lasik surgery package per eye Rs.15,000

30
Hernia Rs.40,000

Hydrocele Rs.20,000

Piles/hemorrhoidectomy Rs.30,000

Appendicectomy Rs.30,000

Cholecystectomy Rs.40,000

Prostatectomy Rs.40,000

FESS Rs.30,000

Dialysis Rs.2,000

Female Diseases/Surgery

Hysterectomy Rs.40,000

Mastectomy Rs.40,000

Cost of implants Max.

Temporary Pacemaker implantation Rs.30,000

Permanent Pacemaker Implantation Rs.40,000

Cost of Stent Rs.30,000

In case the patient is to be moved to a hospital / nursing home outside the

urban agglomeration / municipal limits, then the expenses incurred on
conveyance may be reimbursed at the following rates :

Ambulance Category Ceiling

Non-Cardiac Rs.2,500/-

Cardiac Rs.5,000/-

Other Charges :

Ventilator or respiratory charges -Rs.5,000/- per day + oxygen charges

Oxygen charges Rs.100/- per hour (Max.Rs.1,000/- per day)

31
 Physician Consultation Charges per visit :

Registration charges - Rs.200/-

Consultation / routine visit - Rs.400/-
Night visit / emergency visit - Rs.600/-

Specialist Consultation charges per visit :

Consultation / Routine day visit - Rs.500/-

Consultation with ECG / Night visit / Emergency visit- Rs.700/-
Physiotherapy charges - Rs.300/- per day

Charges for Operations (maximum) :

Type Surgeons Fee Anesthesia Theatre
Charges
Minor operation under LA Rs.5,000/-
Minor operation under GA Rs. 5500/- Rs. 2500/- Rs. 3,000/-
(fixed)
Minor operations Rs. 17,000/- Rs. 7,000/- Rs. 7,000/-
(fixed)
Supra Major Operations Rs. 26,000/- Rs. 9,000/- Rs. 10,000/-
(per hour)

- Option for Insurance coverage of single person to be provided.

- All other terms and conditions of the Medical Insurance Scheme as mentioned
in the 10th Bi-partite/7th Joint Note which are not explicitly mentioned in this
amendment shall continue. Further, it is agreed that the coverages that have
been added subsequently in the Scheme vide settlement dated 11 th November,
2020 shall also continue, subject to the caps, if any, as mentioned herein.

- For additional insurance over and above the base policy to be offered, it shall
be without above mentioned ceilings.

32. Weekly off

In terms of understanding dated 7th December, 2023, reached between IBA and
Workmen Unions for declaration of all Saturdays as holidays under Negotiable

32
Instrument Act for Banking industry, IBA has accordingly recommended to the
Government. The due changes in the working hours, will be effective after
approval by the Government of India and necessary clearances from
Government / Reserve Bank of India.

33. Pension (including State Bank of India)

With effect from 1st November 2022, the Pay as defined under Clause 7 of this
Settlement and drawn by the employees who are members of the Pension Fund
shall be taken into consideration for the purpose of calculation of pension as per
the Pension Fund Rules/ Regulations in force.

Note:

(1) Option not to claim incremental commutation on revised basic

pension

Employees in service of the Banks as on 1st November 2022 and who

have retired thereafter but before the date of this Settlement and who
had opted for commutation of pension will have an option not to claim
incremental commutation on revised basic pension.

(2) Calculation of Pension for employees retired between 1-11-2022

and 30-8-2023.

As provided under Regulation 35 (1) of Bank Employees Pension

Regulation, the pension payable to employees is based on the average of
the emoluments drawn in the last ten months preceding the retirement
of the employee in terms of Regulations 2 and 38 of the Pension
Regulations. For the purpose of payment of pension, the Pay of the
employees retiring on or after 1st November, 2022 will be taken on the
basis of the Pay as is provided under this Settlement. However, in the
case of employees who have retired from the services of the Banks, on or
after 1st November, 2022 but on or before 30th August, 2023, since the
period of preceding ten months will constitute Pay both under this
Settlement as well as pertaining to Settlement dated 11th November,

33
 2020, in such cases, the following procedure will be adopted for
determining Pension payable to them.

(i) For the period of ten months falling on and from 1st November, 2022, the
actual Pay drawn by the employee/payable under this Settlement; and

(ii) For the period falling prior to 1st November, 2022, the actual Pay drawn
by the employee plus Dearness Allowance at the rate of 30.38 percent
thereon will be notionally reckoned as Pay for the purpose.

34. Dearness Relief for pre-November 2002 pensioners

In terms of clause 7 of bipartite settlement dated 9th June, 2005 and clause 16
of bipartite settlement dated 27th April, 2010, Dearness Allowance payable to
pensioners/family pensioners of the period on and from 1 st November, 2002
was modified w.e.f. 1st February, 2005 and revised to uniform 100%
neutralisation. In terms of minutes of understanding signed between the
parties dated 28th July, 2023, it was agreed to extend the benefit of 100%
neutralisation in the dearness allowance scheme to pre-November, 2002
pensioners and it was accordingly revised w.e.f. 1 st October, 2023 as under:

For all pensioners and DA rates will be on uniform basis of 100%

family pensioners relating neutralization as in the case of employees/ officers/
to period from 01.01.1986 pensioners/ family pensioners of period on and from
to 31.10.1992 / 1st November, 2002 as provided hereinbelow
30.06.1993 - For those pensioners/family pensioners of period
1-1-1986 to 31-10-1992 / 30.06.1993, DA shall be
at the uniform rate of 0.67% per slab over 600
points.
- For those pensioners/family pensioners of period
1-11-1992 / 01.07.1993 to 31-03-1998, DA shall be
at the uniform rate of 0.35% per slab over 1148
points.

34
 - For those pensioners/family pensioners of period
1-04-1998 to 31-10-2002, DA shall be at the
uniform rate of 0.24% per slab over 1684 points.
For Pensioners/Family
Pensioners of the period
from 01.01.1986 to
31.10.1992 / 30.06.1993
- For Basic Pension/Family Ex gratia of Rs. 800/- per month
Pension upto Rs. 1250/-
- For Basic Pension/Family Ex gratia of Rs. 450/- per month
Pension from Rs. 1251/-
and upto Rs. 2000/-
For Pensioners/Family
Pensioners of the period
from 01.11.1992 /
01.07.1993 to 31.03.1998
- For Basic Pension/Family Ex gratia of Rs. 800/- per month
Pension upto Rs. 2400/-
- For Basic Pension/Family Ex gratia of Rs. 450/- per month
Pension from Rs. 2401/-
and upto Rs. 3850/-
For Pensioners/Family
Pensioners of the period
from 01.04.1998 to
31.10.2002
- For Basic Pension/Family Ex gratia of Rs. 800/- per month
Pension upto Rs. 3550/-
- For Basic Pension/Family Ex gratia of Rs. 450/- per month
Pension from Rs. 3551/-
and upto Rs. 5650/-

35
35. Dearness Relief on Pension (including State Bank of India)

With effect from 1st November, 2022, in respect of employees who retired or
died while in service on or after 1st November, 2022, Dearness Relief shall be
payable at 1.00 % per percentage point of Index on 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 half yearly for every
variation of rise or fall over 123.03 points in the quarterly average of the All
India Consumer Price Index for Industrial Workers Base 2016=100.

36. Ex-gratia for Pensioners (including SBI)

The Unions / Associations, have been demanding periodical updation of pension

along with wage revision Settlements. The issue regarding updation of pension
is already sub-judice before various courts including the Honourable Supreme
Court. The Unions / Associations, requested that without prejudice to the court
cases, some ex-gratia may be extended to the pensioners/family pensioners
and it has been agreed that some ex-gratia amount could be considered, for the
current bi-partite period i.e., from 01.11.2022 to 31.10.2027.

The issue was discussed further and accordingly it has been agreed that as a
one-time measure applicable for the current bipartite settlement / Joint Note
period commencing from November, 2022 to October 2027, monthly ex-gratia
amount shall be paid in addition to the pension/family pension paid by the
public sector Banks including SBI, to pensioners and family pensioners, who
became eligible to draw pension on or before 31st October, 2022 including those
who retired on 31.10.2022. The said ex-gratia amount shall not attract any
other allowance including dearness allowance/dearness relief. The next review
of the ex-gratia amount shall be undertaken in April 2024 and thereafter shall
be subject to review annually and as mutually agreed between the IBA and the
Unions/Associations.

36
 Without prejudice to the court cases in various litigations relating to pension
scheme including the demand for updation of pension for past retirees, etc., the
payment of ex-gratia should in no way / under any circumstances, be construed
as revision of pension and a step against IBA’s stand in the courts including
supreme court.

The ex-gratia shall be paid as per the following matrix based on the Factor
given hereunder for the different settlement periods. Such fixed monthly ex-
gratia shall be payable for the month of November, 2022 and onwards during
the period 01-11-2022 to 31-10-2027.

Retired during the period

4/5th BPS 6th BPS 7th BPS 8th BPS 9th BPS 10th BPS 11th BPS
For 1st Jan 1st 1st Apr 1st Nov 1st Nov 1st Nov 1st Nov
workmen 1986 to Nov.1992 1998 to 2002 to 2007 to 2012 to 2017 to
31st Oct to 31st 31st Oct 31st Oct 31st Oct 31st Oct 31st Oct
1992 Mar.1998 2002 2007 2012 2017 2022
1st / 2nd 3rh Joint 4th Joint 5th Joint 6th Joint 7th Joint
8th Joint
Joint note note note note note
note
note
For
Officers 1st Jan 1st Jul 1st Apr 1st Nov 1st Nov 1st Nov 1st Nov
1986 to 1993 to 1998 to 2002 to 2007 to 2012 to 2017 to
30th Jun 31st Mar 31st Oct 31st Oct 31st Oct 31st Oct 31st Oct
1993 1998 2002 2007 2012 2017 2022
0.17 0.15 0.12 0.07 0.05 0.03 0.02

Note:

i. Ex gratia amount payable shall be the Basic pension attracting DA/DR +

DA/DR paid for October, 2022 multiplied by the Factor as provided in the
above Table after round up/down. To round up / down to the nearest 100,
(i.e. 49 and below shall be round down to lower hundred and 50 and above
shall round up to higher hundred)
ii. Basic Pension would mean the full basic pension as on 31st October, 2022
(not the reduced basic pension after commutation)

37
iii. For part time employees, the ex-gratia shall be based on the Basic Pension
drawn by them and DA / DR applicable on the Basic pension.

37. Option for resigned employees to join Pension Scheme

In terms of the Memorandum of Understanding arrived at between the parties

vide MoU dated 7th November, 2023, it is agreed, subject to approval by the
Government, that employees who were in service of the Banks on or after 1-1-
1986 and had joined the Banks before 1-4-2010 and who have resigned from
the service of the Bank on or before 26-04-2010 and who were otherwise
eligible to join the pension scheme while in service will be given an option and
opportunity join the pension scheme on the following terms and conditions:

1. The following categories of former employees, who satisfy all the conditions
stated in sub-clauses (a) to (c) herein below, would be eligible for exercising
an option to join the Pension Scheme within ninety days of announcement of
such option as one time measure only.
a. Employees and officers who were in service of the Banks on or after 1-1-
1986 and had joined the Banks before 1-4-2010 and who have resigned
from the service of the Bank on or before 26-04-2010 and who were
otherwise eligible to join the pension scheme while in service and
b. Who agree to refund to the Bank the entire Bank’s contribution to
Provident Fund (along with accumulated interest thereon) received by
them at the time of their resignation or later from the Bank, and
c. Who agree to execute an undertaking as per draft provided by the Bank

2. All such eligible former employees as mentioned above and their surviving
spouse or eligible family member shall be entitled for pension / family
pension, if they exercise the option, subject to the following conditions
a. That the pension will be paid prospectively from the month following the
month in which the Bank receives the Bank’s contribution towards PF

38
 (along with accrued interest thereon) received by the former
employee/former officer at the time of resignation or later.
b. The commutation of pension will not be extended to them and they will
not demand.
c. Pension shall be computed as per the applicable provisions of the Pension
Regulations, as applicable to relevant Bi-partite settlement / Joint Note in
which he / she resigned.
3. The Associations / Unions of employees or former employees / former
officers who have initiated any pending legal proceedings for and on behalf
of the former employees/officers wherein the right of the former employees
or former officers, who have resigned from the service of the Bank, to opt
for pension is directly or indirectly one of the issues for consideration by the
concerned Court or Authority, having jurisdiction and powers to adjudicate
or decide, unequivocally agree to unconditionally withdraw such proceedings
or take necessary steps to ensure that the right of the former employees /
former officers who have resigned from the services of the bank, to opt for
pension is no longer Res Integra in such proceeding and also agree not to
initiate any proceedings concerning such right in future.

38. Defined Contributory Pension Scheme – DCPS (NPS)

(a) In partial modification of clause 18 of Settlement dated 11th November,
2020, while the employees covered and governed under this Scheme,
shall continue to pay/contribute to the Fund at 10% of the ‘Pay” plus
Dearness Allowance thereon, the Banks (including SBI), shall make a
contribution of 14% of the “Pay” and Dearness Allowance thereon.
(b) The issue of exempting the additional 4% management contribution from
income tax already recommended by IBA to the Government.

(c) It is clarified that for superannuation benefit, ‘Pay” shall be as per the
provisions contained in clause 7 (i) of this settlement.

39
39. Provident Fund

It is reiterated that -

(a) The employees who are presently covered under the Pension Scheme shall
continue to contribute 10% of the Pay towards Provident Fund, but there
shall be no matching contribution.
(b) Employees of State Bank of India will continue to be covered by
Contributory Provident Fund Scheme as hitherto.
(c) Employees who are presently covered under the Contributory Provident
Fund Scheme and have not opted for the Pension Scheme under the
Settlement dated 27th April 2010 shall continue under the Contributory
Provident Fund Scheme as hitherto.

40. Special provision for State Bank of India

Special compensatory provisions in respect of State Bank of India as in bank

level settlements may be reviewed and settled at bank level. In this Settlement,
the following clauses/provisions do not apply to State Bank of India and the
same shall be settled at the bank-level as mentioned above:
Clause 7 Definition of Pay
Clause 8 Revised designations of staff
Clause 9 Special Pay
Clause 10 PQP/Graduation Pay
Clause 11 Fixed Personal Pay
Clause 12 Officiating Pay
Clause 18 (b) and (d) Hotel Lodging rates
Clause 20 Cycle / Two wheeler Allowance
Clause 21 Deputation Allowance
Clause 22 Hill & Fuel Allowance
Clause 24 Overtime Allowance
Clause 26 (vii) Bereavement Leave
Clause 29 Note (ii) Definition of Family

40
 Clause 31 Hospitalisation/Medical insurance scheme
Clause 33 (2) Pension – Calculation of Basic pension
Clause 37 Option for resigned employees to join Pension Scheme
Clause 39 Provident Fund
Schedule II Special Pay Duties

All other provisions of this Settlement shall be applicable to State Bank of India.

41. Implementation

The various provisions of this Settlement shall take effect from the dates
specified herein under the respective clauses, and as provided in Schedule V
unless provided to the contrary and the financial benefits emanating therefrom
shall be given effect to within a period of 90 days from the date of this
Settlement.

42. Date of Effect and Operation

i. This Settlement shall be binding on the parties for five years from 1 st
November 2022.

ii. The terms and conditions hereof shall continue to govern and bind the
parties even thereafter until the Settlement is terminated by either party
giving to the other a statutory notice as prescribed in law for the time
being in force.

iii. The All India Bank Employees’ Association, the National Confederation of
Bank Employees, the Bank Employees Federation of India the National
Organisation of Bank Workers and the Indian National Bank Employees
Federation on behalf of the workmen agree that during the operation of
this Settlement, the workmen will not for any reason whatsoever, raise
any demand of any nature whatsoever on any of the banks in respect of
matters, monetary or otherwise, covered by this Memorandum of
Settlement.

41
iv. Copies of the Memorandum of Settlement will be jointly forwarded by the
parties to the authorities listed in Rule 58 of the Industrial Disputes
(Central) Rules, 1957 so that terms and conditions thereof are binding on
the parties as provided in law.

43. Interpretation

If there is any difference of opinion regarding interpretation of any of the

provision of this Settlement the matter will be taken up only at the level of the
Indian Banks’ Association, the All India Bank Employees’ Association, the
National Confederation of Bank Employees, the Bank Employees Federation of
India, the National Organisation of Bank Workers and the Indian National Bank
Employees Federation for discussion and settlement.

Dated: 8th March, 2024

Indian Banks’ Association All India Bank Employees’ Association

M V Rao Rajen Nagar

Shanti Lal Jain C.H. Venkatachalam

B.S. Rambabu
Rakesh Sharma

P.R. Mehta
Rajneesh Karnatak

Binod Kumar Mishra J.P. Sharma

42
 Partha Chanda
Sunil Mehta

N. Shankar

Gopal Murli Bhagat

D.R. Tuljapurkar

Brajeshwar Sharma

Lalitha Joshi

S.D. Srinivasan

Anirudh Kumar

A.M. Pereira

Rajnesh Gupta

B. Ramprakash

M.P. Singh

M. Jayanth

43
 National Confederation of Bank
Employees

R. Balaji

Sanjeev Kumar Bandlish

Arun Bhagoliwal

Pradip Kumar Baishya

G. Kripakaran

R. Sriram

L. Chandrasekhar

Milind Nadkarni

Rajesh Kumar Singh

Rakesh Pandey

44
 Anil P. Davar

M. Ravi Kumar

Shivprasad P. Bhamare

Anzil K.N.

Abhoy Deo Sharma

Kshitij Pathak
Bank Employees Federation of India

S S Anil

Debasish Basu Chaudhury

Harirao S

Manodip Ghosh

45
 R Ajaya Kumar

Narendra Kumar Nayak

National Organisation of Bank Workers

K Vinod Kumar

Man Mohan Das

Anand Ayyappan

Archana Sowani

Prabhakar Awasthi

Gautam Kulkarni

Indian National Bank Employees’

Federation

Om Prakash Sharma

Narendra Tehri

46
 Siddharth Menon

Ishwar Sanjeev Puthran

Narismha Murthy M.K

Shubhendra Bhandarkar

WITNESSES

Sankararaman Seetharaman

Uttam Sharma

Saiprasad Deshmukh

J.J. Dholakia

V. Udayakumar

K. Srikrishna

Naveen Kumar Modi

47
Nandakumar Chavan

Raju Kumar Singh

Chittaranjan Panda

Sudip Dutta

Pankaj Kaushik

Dinesh Kumar Singh

Akhil S

Rishi Kumar Upadhyay

Rajesh Kumar Kaushal

Ranjan Raj

Vinitha P H

Sunil Singh

48
 T Raghu Ram

Arun Kumar Mishra

Snehal R Petkar

CC TO: 1. Assistant Labour Commissioner (Central)

2. Regional Labour Commissioner (Central)
3. Chief Labour Commissioner (Central), New Delhi
4. The Secretary to the Government of India, Ministry of Labour, New Delhi.

49
 Schedules to the Settlement

Schedule Contents Reference

Schedule I List of Banks Clause 1

Schedule II
Part A I - Duties of Customer Service Associate
II - Duties of Sr. Customer Service
Associate (Cash)
III–Duties of Special Customer Service Clause 9 (i)
Associate
IV Duties of Office Assistant
V –Duties of Special Pay posts in
subordinate cadre

Part B Special Pay posts and Special Pay Clause 9 (ii)

Part C Powers of Special Pay posts Clause 9 (iii)

Part D Professional Qualification Pay/ Graduation Clause 10 (i)

Pay

Schedule III Fitment Chart Clause 5 Note (d)

Schedule IV Special Area Allowance Clause 23

Schedule V Date of effect/implementation date for Clause 41

various clauses

50
 SCHEDULE - I
LIST OF BANKS TO BIPARTITE SETTLEMENT

1. Bank of Baroda
2. Bank of India
3. Bank of Maharashtra
4. Canara Bank
5. Central Bank of India
6. Indian Bank
7. Indian Overseas Bank
8. Punjab & Sind Bank
9. Punjab National Bank
10. UCO Bank
11. Union Bank of India
12. State Bank of India
13. IDBI Bank
14. The Dhanlaxmi Bank Ltd.
15. The Federal Bank Ltd.
16. The Jammu & Kashmir Bank Ltd.
17. Kotak Mahindra Bank Ltd.
18. The Karnataka Bank Ltd.
19. The Karur Vysya Bank Ltd.
20. The Nainital Bank Ltd.
21. RBL Bank Ltd.
22. The South Indian Bank Ltd.
23. Citibank, N.A.
24. The Hongkong & Shanghai Banking Corporation Ltd.
25. Standard Chartered Bank

51
 Schedule II

Part A

I. Duties of Customer Service Associate (CSA) (other than SBI):

(w.e.f. 1st April, 2024)

 Attending to customers across the counters for all routine clerical work other
than supervisory work except specifically provided herein.

 Receipt of cheques, Drafts, Dividend Warrants, Pay Orders / Bankers Cheques

and other similar instruments other than Bills and giving acknowledgements for
the same in the counterfoil.

 Receiving and acknowledging inward thapals / letters / courier / speed post etc.

 Ensuring proper contents in the covers and envelopes including thapals,

Registered Post / Courier / Speed Post etc., before despatch of the same.

 Data entry in system of details of Account opening forms including Aadhar

based documents after the documents are approved and verified by a
supervisory staff.

 Updating and uploading in the system, KYC documents which are verified and
approved by a supervisory staff.

 Following up and guiding the customers for completing the KYC, e-KYC / Re-
KYC / c-KYC

 Generation of CIBIL Reports.

 Generation of Statements of accounts in hard copy / soft copy and sending by

post / mail / hand delivery as the case may be, at the request of the customers
/ a supervisory staff.

 Printing of Passbook including printing of Barcode / Branch, Customer details

page, Transactions at the request of the customers / a supervisory staff,
whenever required.

52
 Preparation and/or generation of Certificate of Balance from the system at the
request of the customer for authentication/approval by a supervisory staff.

 Registering Standing Instructions of customers in the system for authentication

by a supervisory staff.

 Registering Stop Payment Instructions of the customers in the system for

authentication by a supervisory staff.

 Registering/entering (PPS) Positive Pay System letters in the system as are

received from the account holders for further approval by a supervisory staff.

 Delivery of cheque books to customers after entering the details in the

prescribed register and obtaining the acknowledgement from the customer,
subject to approval by a supervisory staff.

 Delivery of Debit Card to customers after entering the details in the prescribed
register and obtaining the acknowledgement from the customer, subject to
approval by a supervisory staff.

 Recounting of cash in cash department/currency chest.

 Scanning and capturing of specimen signatures of account holders for

authentication by a supervisory staff.

 Assisting an officer in Loan Recovery Department by writing letters to

borrowers on overdue instalments, overdue notices, default advices, contacting
borrowers for reminder, etc. either by sending mail or by contacting through
phone.

 Generating or preparing intimation letters to the customers about due date of

maturity of Deposits and seeking renewal of Deposits.

 Entry of Locker operations either in the manual register or in the system and
assisting a supervisory staff for operation of Locker by the customers. (other
than key holding)

 Generating or preparing intimation letters to customers for payment of Locker

Renewal Fee.

53
 Follow-up with customer for recovery of locker fee overdues, by mail or on
phone and sending letter in the prescribed format, in this regard.

 Feeding/uploading details of credit proposals, loan applications/ documents

after authentication by a supervisory staff.

 Working in “May I Help You” counters.

 Working in Audit Departments to assist Internal Auditors in preparation of audit

reports, related correspondence, etc.

 In dedicated and exclusive cash counters, there shall be no limit for accepting /
paying cash from / to the customers.

 In other counters, receipt of cash and authorization of the cash received upto
Rs. 50,000.

 Cash receipts for issuance of pre-signed DDs, etc. independently upto and
including Rs. 50,000.

 Passing cash cheques and other like instruments independently upto and
including Rs. 50,000.

 Passing clearing/transfer vouchers/other similar instruments independently

upto and including Rs. 1,00,000.

 Passing clearing and transfer vouchers and other similar instruments of Rs.
1,00,000 and above but upto Rs. 2,00,000 jointly with another Customer
Service Associate/ upto Rs.2,50,000/- with Senior CSA (Cash) / upto
Rs.4,00,000/- with Special CSA.

 Customer Service Associate may be utilized in Administrative offices /

departments to work and assist officers in routine correspondence, follow up,
generation of statistical data, returns and statements, working as Assistants to
Executives, etc.

 To work in inward/outward clearing department/exclusive departments /

specialized branches like Service Branch, Cheque Processing Centres etc.,
relating to this work and assigned duties like scanning of cheques, uploading,
etc.

54
 Note :
Those who are required to work in night shifts/odd hours in specialized
branches like Service Branch, Cheque Processing Centres etc., may be
compensated by arrangement of conveyance, inconvenience allowance.
 Feeding Life Certificates of Pensioners in the system for authentication by a
supervisory staff.

 Generating/preparing Clearing Return memos and forwarding the same to

account holders.

 CSAs with required experience and certification, may be assigned to work as

Telephone Operator.

 Assisting a supervisory staff in Loan department including dealing with Gold

Loan/Jewel Loan including feeding of loan documents, etc. in the system (other
than authenticating quality of gold/jewel pledged).

 Customer Service Associate may be utilized to work in Rural Development

Department/Agri Loan Department to assist an officer in handling routine
correspondence, generation of statistical data, inspection reports, etc.

Note:

 CSA may be utilized for assisting/to accompany an officer in recovery of loans

outside the Branch/office subject to reimbursement of conveyance expenses
and out of pocket expenses, and overtime wages, if any payable.

 Customer Service Associate may be utilized for acquisition of new business,

marketing, guiding the customers about digital/other banking products/loan
products within office hours and without any assigned targets.

Note :
(a) Banks may utilise CSAs in exclusive marketing work/team/ department
outside the Branch / Office by providing guidelines. Facilities like
reimbursement of conveyance expenses (other than provided in clause
16)/petrol charges, out of pocket expenses, mobile phone bills upto a
prescribed ceiling per month, lunch expenses, entertainment expenses,

55
 vehicle parking charges, etc. wherever required may be decided at each
Bank level

(b) Banks may evolve proper guidelines for selecting staff for this exclusive
marketing work based on defined criteria, suitability, product knowledge,
aptitude, special qualifications on marketing, etc.

 Banks should evolve SOPs / guidelines for allocation of work to Customer

Service Associates who are persons with benchmark disabilities.

 Customer Service Associate may be sent on deputation to Bank’s own training

establishment/s or to any organization / Institution outside of the Bank.

 CSA may enter and feed the details of remittances under NEFT and RTGS but
authorization and responsibility thereof shall be of a supervisory staff.

 Assisting the customers to activate net banking / mobile banking facility

 Sensitising customers about digital products, loan products, and available

alternate delivery channels.

 Working in Advances / Credit Department and generating CERSAI from Cersai

portal

 Feeding data in Cersai portal for further verification & authorization by a

supervisory staff.

 In Forex Department, CSA may be asked to work as a maker in inward

remittance, outward remittance, realisation of Export Bills, Letter of Credit
lodgment for Import and Export Bills, View Swift credit entries and sending
intimation of the same.

 To work in I.T. department to undertake duties that are done by RCC or at

Helpdesk like running a patch programme, Maintaining records of Hardware etc.
(employees with qualification of BCA, B.Tech, MCA, etc. may be entrusted with
such duties).

56
II. Duties of Senior Customer Service Associate (Cash)

Besides the passing powers provided herein under this Settlement, their duties
involve holding the bank’s cash, key and/or other valuables in safe custody jointly
with an officer and being accountable for them and being responsible for the
running of the cash department and besides the following duties:
1. Passing cash cheques and other like instruments independently upto and
including Rs. 50,000.

2. Cash receipt and authorisation independently upto and including Rs.50,000.

3. Cash receipt for pre-signed DD, etc. independently upto and including
Rs.50,000.

4. Passing clearing/transfer vouchers/other similar instruments independently

upto and including Rs. 1,50,000.

5. Passing clearing and transfer vouchers and other similar instruments of Rs.
1,50,000 and above but upto Rs. 2,50,000 jointly with another Customer
Service Associate/ upto Rs.4,50,000 with Special CSA.

6. Loading / replenishing cash in on-site ATMs / Cash Recycler machines or

other similar machines during office hours jointly with a Special CSA / Officer.

7. To collect and deposit the cash from the Cash Deposit machines / Cash
Recycler machines or other similar machines available in the Branch after
reconciling the entries jointly with a Special CSA / Officer.

8. Opinion compilation;

9. Verification of vernacular signatures/ endorsements;

10. Countersigning cheques and/or drafts (on selves or correspondents),

payment orders, deposit receipts, etc.,

11. Attending to Government Treasury work;

12. Discharging/endorsing bills, cheques, etc.;

13. In dedicated and exclusive cash counters, there shall be no limit for accepting

and paying Cash from / to customers.

57
III. Duties of Special Customer Service Associate
Besides the duties of Customer Service Associate, Special Customer Service
Associate shall be accountable and responsible for running of the
department/section under them and their duties shall involve looking after and
checking the work of Customer Service Associate and Office Assistant and shall also
include:
1) Passing cash cheques and other like instruments independently upto and
including Rs. 1,00,000.

2) Passing clearing/transfer vouchers/other similar instruments independently upto

and including Rs. 3,00,000.

3) Passing clearing and transfer vouchers and other similar instruments of Rs.
3,00,000 and above but upto Rs. 4,00,000 jointly with another Customer
Service Associate/ upto Rs.4,50,000 with Senior CSA (Cash).

4) Authorisation of Cash receipt independently upto and including Rs.2,00,000.

5) Passing of cheques upto limits mentioned hereinabove and passing will include
verification of signatures and scrutiny as to the correctness of endorsements
on and other particulars of such instruments. There shall be no limits for
verification of signatures, passing of authenticated credit vouchers/entries and
for verifying authenticated vouchers in the ledgers, books, computer printouts
etc.

6) Accept, verify and post cash / transfer / clearing cheques and other
instruments, as the case may be, in appropriate books of accounts / ledgers,
either manually or online, and give due acknowledgements.

7) Signing vouchers, cheques, drafts, mail transfers, pay orders, advices such as
non-payment advices, inter-branch fate calling advices, bill schedules,
demand notices, statements certificates etc.,

8) Checking all vouchers, advices, statements, cheques, drafts etc., bills and
books of accounts including current savings and other ledgers, cash, postal
and revenue stamps, franking machine balances, exchange, discount,
brokerage calculations and initialing by way of authenticating them for
accuracy/ correctness;
58
 9) Checking, manually or online, current, savings and other accounts.

10) Discharging, endorsing cheques, bills, etc.,

11) Perform, when required in a computerised set-up, system control functions,

either jointly with an officer or independently, upon specific authorisation in

this regard;

12) Briefly explain, the features of Bank’s various products and services to

customers, to reply their queries and to refer interested customers to

appropriate personnel;
13) Loading / replenishing cash in on-site ATMs / Cash Recycler machines or other

similar machines during office hours jointly with a Senior CSA(Cash) / Officer.

14) To collect and deposit the cash from the Cash Deposit machines / Cash

Recycler machines or other similar machines available in the Branch after

reconciling the entries jointly with a Senior CSA(Cash) / Officer.

For the purpose of efficient and effective functioning of the section or department,
Special Customer Service Associate shall ensure that all acts, things and steps
necessary therefor are taken by himself or by the Customer Service Associate
placed under him and shall ensure that, wherever necessary:
a) Reminders are sent on time and followed up.
b) Pass sheets / books are filled up and issued promptly.
c) Deposits are renewed on due dates or reminders sent to the parties.
d) Standing instructions are complied with.
e) Bills are accepted and due dates diarized / advised and followed up.
f) Interest, commissions and service charges are collected.
g) Proceeds of bills are received or remitted promptly.
h) Confirmation of balance of accounts of the customers and its follow- u p .
i) All securities relating to the department/section of which the Special Customer
Service Associate is in charge are secured and/or kept in proper custody and
properly handed to the authorized person at the close of the day.

j) Advices and/or duplicate advices/summaries are issued /responded promptly,

whenever called for;

59
 k) Checking the proper recording of entries and all relevant particulars in
regard to accounts opened under due authorisation.
l) Assisting in the counting of cash balances, securities, etc., in the presence
of the inspecting officials.
m) Assisting the inspecting officers in checking the quantities and values of
the securities charged to the Bank.

n) Checking items of stationery and marking off vouchers and

acknowledgments and assisting in the examination of vouchers other than
those of inter-branch/sub-office(s) items-in-transit, suspense charges,
sundry deposits and stationery accounts.

o) Assisting in preparing the audit returns/reports and typing and generally

assisting the inspecting officer in his functions as may be required.

Notes:-
(i) In respect of special pay carrying posts:–

a) Countersigning would mean signing in a manner whereby the primary

responsibility for ensuring that all the formalities are complete rests with
the other signatory.

b) Checking/verifying would mean verifying that the instrument / material

checked is in order in all respects and also includes verification of signature
irrespective of the amount of the instrument and authenticating the same on
the instrument/ material, initialing the relative entries in the respective
books of accounts, manually and/or online.

c) Passing includes verification of signatures and scrutiny as to the

correctness of endorsement on and other particulars of such instruments.
It will also include checking and authenticating the relative entries in the
respective books of accounts / ledgers / computer sheets and/or online.

(ii) Selection of staff for being entrusted with special pay carrying post of Special
Customer Service Associate shall be on the basis of their suitability for the
specialised function, norms for which shall be decided at the bank level.

60
 (iii) It may be noted that:

a) An employee assigned higher Special Pay duties shall, subject to

availability of time, also perform routine duties of his/her cadre i.e. CSA.

b) Further to the provisions in clause 5.14 (ii) of Settlement dated 19-10-

1966, the duties and responsibilities now agreed to for Customer Service
Associate/ Senior Customer Service Associate(Cash) / Special Customer
Service Associate shall not be regarded as supervisory duties and the
employees required to perform these duties and discharge these
responsibilities shall be regarded as 'Workmen' under the provisions of
Industrial Disputes Act, 1947 for all purposes irrespective of their
emoluments, designations or nomenclature.

c) Special Customer Service Associates: Their duties do not include the

duties of Senior Customer Service Associate (Cash).

d) The duties provided herein under this Settlement are subject to

performance within the respective stipulated working hours.

IV. Duties of Subordinate Staff / Office Assistant

Subordinate Staff/ Office Assistant may be assigned all the normal and routine
duties of the cadre and for performance of which no special pay is payable. T he
following duties shall also be part of the duties of subordinate staff/Office
Assistant.

1) To take money orders, to buy stamps etc., which involves carrying of cash not
exceeding Rs.5,000/- and to carry insured letters., etc. to post office

2) To pack currency note bundles

3) To pack and seal parcels and packets containing currency notes;

4) To accompany transit cash from the bank to an office outside or vice

versa.

61
 V. DUTIES OF SPECIAL PAY CARRYING POSITIONS IN
SUBORDINATE /OFFICE ASSISTANT CADRE (Other than in SBI)

Post Duties

Armed Guard / Persons required to perform watch and ward duties i.e. to
Security Guard watch or look after the premises or department for the
purposes of its safety, security and guard against attack or
assault or infiltration and against removal of the bank’s
property by any unauthorized persons and/or to watch and
guard as above the movement of cash from one place to another
whether inside or outside the Bank, for which purpose they
are required by the bank to carry any of the following
weapons:
i) Gun, Pistol or any other firea r m ; or
ii) Dagger, sword, khukri or spear; or
iii) any other licensed weapon
Note: ‘Retainers’ Peons (other than watchmen) whose names
are registered in the Bank’s licence as Retainers will, when
they perform “Armed Guard” duties, be entitled to special
pay for “Armed Guards” pro rata.
Senior Office Their work involves:
Assistant 1) Obtaining acceptance of bills of exchange, hundies etc.,
(Earlier Bill drawn on local parties or banks and / or collecting
Collector / payments thereof
Daftary) 2) Collecting payments for cheques or postal order etc.,
from banks or post office counters. They may also be
required to collect cash not exceeding Rs.5,000/- at a
time against various instruments.
3) Simple binding of books and registers
4) Press copying
5) Filing independently letters and other papers in respect
files as per indications marked thereon.
6) Assisting in issuing stationery
7) Stacking under guidance old records in orderly manner
and assisting in giving them out when required; and
8) Undertaking the whole process of sorting, arranging,
numbering, tallying the total number or stitching the
vouchers.

Special Office Persons required to assist in supervision of various matters

62
Assistant (earlier pertaining to subordinate staff like:
Head Peon) i) Cleanliness of the office premises
ii) Cleanliness of uniforms
iii) Leave arrangements.
iv) Arrangements for safekeeping of keys; and
v) Distribution of duties amongst the subordinate staff
Office Assistant Semi-skilled persons who under the supervision of the
(Tech) / AC Plant technician to attend to routine maintenance of and minor
Helper repairs to air conditioning plants.
Office Assistant Their work involves carrying out semi-skilled electrical work
(Tech) / like routine maintenance of electrical equipments, effecting
Electrician minor repairs to electrical fixtures and appliances.
Drivers Persons required to drive, maintain and effect minor repairs
(not requiring a technician’s skill) to motor cars, motor vans,
station wagons, scooters, motorcycles or other motor vehicles.
Head Messenger in As per bank level agreements.
IOB

63
 Part B

Special Pay posts

For Clerical Staff

Special Pay (Rs.) Special Pay (Rs.)

Sl. No. Post
w.e.f. 1-11-2022 w.e.f. 1-4-2024

1 Customer Service Associate 1680 1970

2 Senior Customer Service 2605 3050

Associate (Cash)

3 Special Customer Service 3925 4600

Associate

For Subordinate Staff (w.e.f. 1-11-2022)

Sl. No. Post Special Pay

(Rs.)
1 Armed Guard/Security Guard 795
2 Senior Office Assistant (earlier Bill Collector / Daftary) 1145
3 Special Office Assistant (earlier Head Peon) 1505
4 Office Assistant (Tech) – Electrician 4150
5 Office Assistant (Tech) - AC Plant Operator 4150
6 Driver 4825
7 Head Messenger in IOB 3320

57
 12th Bipartite Settlement

Part C
Powers of Special Pay posts (other than SBI)
Duties and Passing Powers From 1st April, 2024:
(Amount in Rupees)
Customer Service Associate
Passing cash cheque/other like instruments independently 50,000
upto and including
Cash receipt for pre-signed DD, etc. independently upto and 50,000
including
Cash receipt and authorisation independently upto and 50,000
including
Passing Clearing/transfer vouchers/other like instruments 1,00,000
independently upto and including
Passing Clearing/ transfer vouchers/ other like instruments > 1,00,000 & <
jointly with another CSA 2,00,000
Passing Clearing/ transfer vouchers/ other like instruments > 1,00,000 & <
jointly with Senior CSA(Cash) 2,50,000
Passing Clearing/ transfer vouchers/ other like instruments > 1,00,000 & <
jointly with Special CSA 4,00,000
Receipt and Payment of cash in dedicated cash counters No limit
Senior Customer Service Associate (Cash)
Passing cash cheque/other like instruments independently 50,000
upto and including
Cash receipt for pre-signed DD, etc. independently upto and 50,000
including
Cash receipt and authorisation independently upto and 50,000
including
Passing Clearing/transfer vouchers/other like instruments 1,50,000
independently upto and including
Passing Clearing/transfer vouchers/other like instruments > 1,50,000 &
jointly with CSA < 2,50,000
Passing Clearing/transfer vouchers/other like instruments > 1,50,000 &
jointly with Special CSA < 4,50,000
Receipt and Payment of cash in dedicated cash counters No limit

58
 12th Bipartite Settlement

Special Customer Service Associate

Passing cash cheque/other like instruments independently 1,00,000

upto and including

Passing Clearing/transfer vouchers/other like instruments 3,00,000

independently upto and including
Clearing/transfer vouchers/other like instruments jointly with > 3,00,000 &
CSA < 4,00,000
Clearing/transfer vouchers/other like instruments jointly with > 3,00,000 &
Senior CSA(Cash) < 4,50,000
Authorisation of Cash receipt independently upto and including 2,00,000

Note: While passing clearing/transfer vouchers/other like instruments

jointly, the responsibility shall be restricted and proportionate to the
respective individual powers provided hereinabove.

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PART D

PROFESSIONAL QUALIFICATION PAY/ GRADUATION PAY

For those non-subordinate staff who hereafter reach or have already reached
20th stage of the scale and have got increments in consideration of educational
qualification(s), Graduation Pay/ Professional Qualification Pay shall be payable
as under:

1 Those who are graduates and/or NDC

Rs. 820 p.m. After they complete 1 year

Rs. 1640 p.m. After they complete 2 years

2 Those who have passed JAIIB or Part I of CAIB/CAIIB-

Rs. 820 p.m. After they complete 1 year

3 Those who have passed JAIIB/CAIIB or both Parts of CAIB/CAIIB

Rs. 820 p.m. After they complete 1 year

Rs. 1640 p.m. After they complete 2 years

Rs. 2460 p.m. After they complete 3 years

4 Those who are graduates/NDC and have passed JAIIB or Part I

of CAIB/ CAIIB

Rs. 820 p.m. After they complete 1 year

Rs. 1640 p.m. After they complete 2 years

Rs. 2460 p.m. After they complete 3 years

5 Those who are graduates/NDC and have passed JAIIB or Part I

of CAIB/CAIIB

Rs. 820 p.m. After they complete 1 year

Rs. 1640 p.m. After they complete 2 years

Rs. 2460 p.m. After they complete 3 years

Rs. 3280 p.m. After they complete 4 years

Rs. 4100 p.m. After they complete 5 years

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For those subordinate staff/Office Assistants who hereafter reach or have

already reached 20th stage of the scale and have got increments in consideration
of passing JAIIB/CAIIB, Professional Qualification Pay shall be payable as under:

1 Those who have passed JAIIB or Part I of CAIIB

Rs. 820 p.m. After they complete 1 year

2 Those who have passed JAIIB and CAIIB or Both Parts of CAIIB

Rs. 820 p.m. After they complete 1 year

Rs. 1640 p.m. After they complete 2 years

Rs. 2460 p.m. After they complete 3 years

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Schedule III

Fitment Chart

CLERK SUBSTAFF
Stage 11th BPS 12th BPS Stage 11th BPS 12th BPS
1 17900 24050 1 14500 19500
2 18900 25390 2 15000 20165
3 19900 26730 3 15500 20830
4 20900 28070 4 16000 21495
5 22130 29720 5 16500 22160
6 23360 31370 6 17115 22990
7 24590 33020 7 17730 23820
8 26080 35020 8 18345 24650
9 27570 37020 9 18960 25480
10 29060 39020 10 19575 26310
11 30550 41020 11 20315 27300
12 32280 43360 12 21055 28290
13 34010 45700 13 21795 29280
14 35740 48040 14 22535 30270
15 37470 50380 15 23405 31440
16 39200 52720 16 24275 32610
17 40930 55060 17 25145 33780
18 42660 57400 18 26145 35125
19 45930 61800 19 27145 36470
20 47920 64480 20 28145 37815
21 49910 67160 21 29145 39160
22 51900 69840 22 30145 40505
23 53890 72520 23 31145 41850
24 55880 75200 24 32145 43195
25 57870 77880 25 33145 44540
26 59860 80560 26 34145 45885
27 61850 83240 27 35145 47230
28 63840 85920 28 36145 48575
29 65830 88600 29 37145 49920
30 -- 91280 30 -- 51265
31 -- 93960 31 -- 52610

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Schedule IV

Special Area Allowance

Allowances (in Rs.)

Sl
Place Pay below Pay above
No.
Rs.48,481/- Rs. 48,481/-

1 Mizoram

a) Chimptuipui District and areas beyond 25 kms 4100 5300

from Lunglei Town in Lunglei District.

b) Entire Lunglei District excluding areas beyond 25 4100 5300

kms from Lunglei town

c) Entire Aizawl District 2700 3400

2 Nagaland 4100 5300

3 Andaman & Nicobar Islands

a) North Andaman, Middle Andamans, Little 4100 5300

Andaman, Nicobar & Narcondum Islands

b) South Andaman (including Port Blair) 4100 5300

4 Sikkim 4100 5300

5 Lakshadweep Islands 4100 5300

6 Assam 1000 1200

7 Meghalaya 1000 1200

8 Tripura

a) Difficult areas of Tripura 4100 5300

b) Throughout Tripura except Difficult areas 2700 3400

9 Manipur 2700 3400

10 Arunachal Pradesh

a) Difficult areas of Arunachal Pradesh 4100 5300

b) Throughout Arunachal Pradesh except Difficult 4100 5300

areas

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11 A Union Territory of Jammu & Kashmir

1) Kathua District: Niabat Bani, Lohi, Malhar and 4100 5300

Machhodi

2) Udhampur District:

(a) Dudu Basantgarh, Lander Bhamag Illaqa, 4100 5300

Thakrakote and Nagote

(b) All Areas in Mahore tehsil other than those 4100 5300
included in (c ) below

(c) Areas upto Goel from Kamban Side and Areas 4100 5300
upto Arnas from Keasi side in Tehsil Mohre

3) Doda District: Illaquas of Padder and Niabat 4100 5300

Nowgam in Kashmir Tehsil

4) Baramulla District:

(a) Entire Gurez-Nirabat, Tangdar Sub-Division and 4100 5300

Keran Illaqua

(b) Matchill 4100 5300

5) Poonch and Rajouri District: Areas in Poonch 2700 3400

and Rajouri District excluding the towns of Poonch
and Rajouri and Sunderbani and other urban areas in
the two Districts

6) Areas not included in (1) to (5) above, but which 2700 3400
are within the distance of 8 kms. from the Line of
Actual Control (LOC) or at places which may be
declared as qualifying for Border Allowance from
time to time by the State Government for their own
staff.

11 B Union territory of Ladakh: 4100 5300

Leh District:
Noyama and Nobre
Zanskar
All other places in the District
12 Himachal Pradesh

1) Chamba District

a) Pangi Tehsil, 4100 5300

Following Panchayats and Villages in Bharmour

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Tehsil:

Panchayats: Badgaun, Bajol, Deol Kugti, Nayagam

and Tunda

Villages: Ghatu of Gram Panchayat Jagat, Kanarsi of

Gram Panchayat Chauhata

b) Bharmour Tehsil, excluding Panchayats and 4100 5300

Villages included in (a) above

c) Jhandru Panchayat in Bhartiyat Tehsil, Churah 2700 3400

Tehsil, Dalhousie Town (including Banikhet
Proper)

2) Kinnaur District

a) Asrang, Chitkul and Hango Kuno/ Charang 4100 5300

Panchayats,
15/ 20 Area comprising the Gram Panchayats of
Chhota Khamba, Nathpa and Rupi,
Pooh Sub-Division, excluding the Panchayat Areas
specified above
b) Entire District other than Areas included in (a) 4100 5300
above

3) Kullu District

a) 15/20 Area of Nirmand Tehsil, comprising the 4100 5300

Gram Panchayats of Kharga, Kushwar and Sarga

b) Outer-Saraj (excluding villages of Jakat-Khana 2700 3400

and Burrow in Nirmand Tehsil) and entire District
excluding outer Seraj area and pargana of Pandrabis
but including villages Jagat-Khana and Burao of
Tehsil Nirmand)

4) Lahaul and Spiti District: 4100 5300

Entire area of Lahaul and Spiti

5) Shimla District

a) 15/20 area of Rampur Tehsil comprising of 4100 5300

Panchayats of Koot, Labana-Sadana, Sarpara and
Chandi-Branda

Dodra-Kawar Tehsil, 4100 5300

Gram Panchayat of Darkali in Rampur, Kashapath

Tehsil and Munish,

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 12th Bipartite Settlement

Ghori Chaibis of Pargana Sarahan

a. a) Chopal Tehsil 2700 3400

b) (i)Ghoris, Panjgaon, Patsnau, Naubis and
Teen Koti of Pargana Sarahan,
(ii) Deothi Gram Panchayat of Taklesh Area,
(iii) Pargana Barabis,
(iv) Kasba Rampur and Ghori Nog of
Pargana Rampur of Rampur Tehsil,
b. Shimla Town and its suburbs (Dhalli, Jatog,
Kasumpti, Mashobra, Taradevi and Tutu)
(6) Kangra District:

a) Areas of Bara Bhangal and Chhota Bhangal 4100 5300

(I) Dharamshala Town of Kangra District and the 2700 3400

following offices located outside the Municipal
limits but included in Dharamshala Town:
a) Women’s ITI, Dari,
b) Mechanical Workshop, Ramnagar,
c) Child Welfare and Town and Country Planning
Offices, Sakoh,
d) CRSF Office at lower Sakoh,
e) Kangra Milk Supply Scheme, Dugiar,
f) HRTC Workshop, Sadher,
g) Zonal Malaria Office, Dari,
h) Forest Corporation Office, Shamnagar,
i) Tea Factory, Dari,
j) I.P.H. Sub- Division, Dari
k) Settlement Office, Shamnagar,
l) Binwa Project, Shamnagar,
(II) Palampur Town, including HPKVV Campus at
Palampur and the following offices located outside its
municipal limits but included in Palampur Town –
a) H.P. Krishi Vishwavidhalaya Campus,
b) Cattle Development Office/Jersey Farm,
Banuri,
c) Sericulture Office/Indo- German Agriculture
Workshop/HPPWD Division, Bundla,
d) Electrical Sub-Division, Lohna,
e) D.P.O. Corporation, Bundla,
f) Electrical HPSE Division, Ghuggar
(7) Mandi District:

Chhuhar Valley of Jogindernagar Tehsil, 2700 3400

Panchayats in Thunag Tehsil:
Bagraa, Chatri, Chhotdhar, Garagushain, Gatoo,
Garyas, Janjheli, Jaryar, Johar Kalhani, Kalwan,
Kholanal, Loth, Silibagi, Somachan, Thachdhar,
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 12th Bipartite Settlement

Tachi, Thana,
Following Panchayats of Dharampur Block:
Binga, Kamlah, Saklana, Tanyar and Tarakholah,
Panchayats of Karsog Tehsil – Balidhar, Bagra,
Gopalpur, Khajol, Mahog, Mehudi, Manj, Pekhi, Sainj,
Sarahan and Teban,
Panchayats of Sundernagar Tehsil –
Bohi, Batwara, Dhanyara, Paura-Kothi, Seri and
Shoja
(8) Sirmaur District: 2700 3400
a) Following Panchayats of
i) Bani, Bakhali (Pachhad Tehsil),
ii) Bharog Bheneri (Paonta Tehsil),
iii) Birla (Nahan Tehsil),
iv)Dibber (Pachhad Tehsil) and
v)Thana Kasoga (Nahan Tehsil)
b) Thansgiri Tract
(9) Solan District: Mangal Panchayat. 2700 3400

(10) Remaining areas of Himachal Pradesh not 1000 1200

included in (1) to (9) above
13 Uttarakhand: Areas under Chamoli, Pithoragarh, 4100 5300
Uttarkashi, Rudraprayag and Champavat Districts
14 West Bengal: South 24 Parganas District 1000 1200
Sunderban Areas (south of Dampier Hodge’s line),
namely, Bhagatush Khali (Rampura), Kumirmari
(Bagna), Jhinga Khali, Sajnakhali, Gosaba,
Amlamathi (Bidya), Canning, Kultali, Piyali,
Nalgaraha, Raidighi, Bhanchi, Pathar Pratima,
Bhagabatpur, Saptamukhi, Namkhana, Sikarpur,
Kakdwip, Sagar, Mousini, Kalinagar, Haroa,
Hingalganj, Basanti, Kuemari, Kultola, Ghushighata
(Kulti)

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Schedule V

Sl. Clause
Subject Date of effect
No. No.

1 Scales of Pay 5 1-11-2022

2 Stagnation increment 6 1-11-2022

3 Definition of Pay 7 1-11-2022

4 Graduation Pay/ PQP 10 1-11-2022

5 Fixed Personal Pay 11 1-11-2022

6 Dearness Allowance 13 1-11-2022

7 House Rent Allowance 14 1-11-2022

8 Special Allowance 15 1-11-2022

9 Transport Allowance 16 1-11-2022

10 Hill & Fuel Allowance 22 1-11-2022

11 Special Area Allowance 23 1-11-2022

12 Medical Aid 25 1-11-2022

13 Pension – Pay calculation, Commutation 33 1-11-2022

14 Ex gratia for Pensioners 36 1-11-2022

15 Defined Contributory Pension Scheme 38 1-11-2022

16 Provident Fund 39 1-11-2022

17 Special Pay 9 1-11-2022/1-4-2024

18 Dearness Relief on Pension 35 1-11-2022

19 100% DA for pre-Nov. 2002 pensioners 34 1-10-2023

Medical Insurance Scheme –Retirees / 31 1-11-2023 /

employees
20 1-10-2024

21 Change in designation 8 1-4-2024

22 Officiating pay 12 1-4-2024

23 Breakage allowance 17 1-4-2024

24 Washing allowance 19 1-4-2024

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 12th Bipartite Settlement

25 Cycle / Two wheeler allowance 20 1-4-2024

26 Overtime 24 1-4-2024

27 Leave Rules 26 1-4-2024

28 Definition of family 29 1-4-2024/1-10-2024

29 Expenses on road travel/ road mileage rate 30 1-4-2024

30 Halting Allowance 18 1-4-2024

31 Deputation Allowance 21 1-4-2024

32 Leave Fare Concession 28 1-4-2024

Schedule II

33 Part A – I - Duties of CSA 1-4-2024

34 Part A – II – Duties of Sr. CSA (Cash) 1-4-2024

35 Part A - III – Duties of Special CSA 1-4-2024

36 Part A - IV - Duties of Office Assistant 1-4-2024

Part A - V – Duties of Special Pay posts in 1-4-2024

37
subordinate cadre
38 Part B – Revised Special Pay 1-11-2022/1-4-2024

39 Part C - Revised powers of Special Pay posts 1-4-2024

40 Part D – Graduation Pay /PQP 1-11-2022

41 Schedule III – Fitment in New pay scale 1-11-2022

42 Schedule IV – Special Area Allowance 1-11-2022

69