(1) An officer shall be confirmed in the post in which he is appointed/promoted, if in the opinion of the Competent Authority, the officer has satisfactorily completed the probationary period.
(2) If, in the opinion of the Competent Authority, an officer directly recruited or an officer promoted from one grade/scale to another has not satisfactorily completed the probationary period, the officer’s probation may be extended by a further period not exceeding one year.
(3) Where during the period of probation, including the period of extension, if any, the Competent Authority is of the opinion that the officer is not f it for confirmation —
(a) in the case of a direct appointee, his services may be terminated by one month’s notice or payment of one month’s emoluments in lieu thereof; and
(b) In the case of an officer promoted from one grade/scale to another he may be reverted to the grade/scale from which he was promoted.
11 PROMOTIONS:
9. Promotion of all cadres of officers in the Bank shall be made in accordance with the Policy/Guidelines laid down by the Board of Directors or Competent Authority or, with its authority, by the Committee of Executives from time to time.
AGE OF RETIREMENT:
10 (1)* An officer of the Bank shall retire on completion of 60 years of age;
Provided that the Bank may, at its discretion, on review by the Special Committee as provided hereinafter in sub-Regulation (2) retire an officer on or at any time after the completion of 55 years of age or on or at any time after the completion of 30 years of total service as an officer or otherwise, whichever is earlier;
Provided further that before retiring such an officer, as mentioned in the first proviso of sub-Regulation (1), at least three months’ notice in writing or an amount equivalent to three months’ emoluments shall be given to such an officer;
Provided further that nothing in this Regulation shall be deemed to preclude an officer from retiring earlier subject to his fulfilling such terms and conditions which may be prescribed by the Bank.
EXPLANATION
(a) * Every officer shall retire from the service on the afternoon of the last day of the month in which he attains the age of 60 years provided that the officer whose date of birth is 1st of month, shall retire from the service on the afternoon of the last day of the preceding month on attaining the age of 60 years.
(b) * No extension shall be given to any officer beyond 60 years of age.
* Effective from 22.5.1998
(2) The Bank shall constitute a Special Committee, consisting of not less than three members, to review, whether an officer should be retired in accordance with the first proviso to sub-regulation (1). Such committee shall, from time to time, review the case of such officer and no order of retirement shall be made unless the Special Committee recommends in writing to the Competent Authority the retirement of the officer.
TERMINATION OF SERVICE :
11* (1) (a) Subject to sub-regulation 3 of regulation 8, where the Bank is satisfied that the performance of an officer is unsatisfactory or inadequate or there is a bonafide suspicion about his integrity or his retention in the Bank’s service would be prejudicial to the interests of the Bank, and where it is not possible or expedient to proceed against him as per the disciplinary procedure, the bank may terminate his services on giving him three months notice or emoluments in lieu thereof in accordance with the guidelines issued by the Government from time to time.
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(b) Order of termination under this sub-regulation shall not be made unless such officer has been given a reasonable opportunity of making a representation to the Bank against the proposed order.
(c) The decision to terminate the services of an officer or employee under subregulation (a) above will be taken only by the Chairman and Managing Director.
(d) The officer employee shall be entitled to appeal against any order passed under sub-regulation (a) above by preferring an appeal within 15 days to the Board of Directors of the Bank. If the appeal is allowed, the order under sub-regulation (a) shall stand cancelled.
(e) Where an officer employee whose services have been terminated and who has been paid an amount of three months emoluments in lieu of notice and on appeal his termination is cancelled, the amount paid to him in lieu of notice shall be adjusted against the salary that he would have earned, had his services not been terminated and he shall continue in the bank’s employment on same terms and conditions as if the order of termination had not been passed at all.
(f) An officer employee whose services are terminated under sub-regulation (a) above shall be paid Gratuity, Provident Fund including employer’s contribution and all other dues that may be admissible to him as per rules notwithstanding the years of service rendered.
(g) Nothing contained hereinabove will affect the Bank’s right to retire an officer employee under Regulation 10(1).
* Effective from 09.11.2002 *(2) An officer shall not leave or discontinue his/her service in the Bank without first giving a notice in writing of his/her intention to leave or discontinue his/her service or resign. The period of notice required shall be three months and shall be submitted to the Competent Authority as prescribed in these regulations:
Provided that the Competent Authority may reduce the period of three months or remit the requirement of notice.
* Effective from 02.06.2006 *(3) (i) An officer against whom disciplinary proceedings are pending shall not leave or discontinue or resign from his service in the bank without the prior approval in writing of competent authority and any notice or resignation given by such an officer before or during the disciplinary proceedings shall not take effect unless it is accepted by the Competent Authority.
(ii) Disciplinary proceedings shall be deemed to be pending against any employee for the purpose of this regulation if he has been placed under suspension or any notice has been issued to him to show cause why disciplinary proceedings shall not be instituted against him and will be deemed to be pending until final orders are passed by the Competent Authority.
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(iii) The officer against whom disciplinary proceedings have been initiated will cease to be in service on the date of superannuation but the disciplinary proceedings will continue as if he was in service until the proceedings are concluded and final order is passed in respect thereof. The concerned officer will not receive any pay and or allowance after the date of superannuation. He will also not be entitled for the payment of retirement benefits till the proceedings are completed and final order is passed thereon except his own contributions to CPF.
* Effective from 09.11.2002 14
CHAPTER IV ALLOWANCES AND PERQUISITES DEARNESS ALLOWANCE:
*12. Dearness Allowance (D.A.) shall be payable to an officer on the following lines: - i) D.A. will be linked to the All India Average Working Class Consumer Price Index(General) (Base 1960=100).
ii) D.A. will be payable only when the Average Index is above CPI 1684.
iii) Above 1684 points(All India Average Consumer Price Index (General) 1960=100), for each 4 point cycle, rise or fall, quarterly average, quarterly adjustments :- 1 st slab On Basic Pay up to Rs. 7100/- 0.24% plus 2 nd slab On part of Basic 0.20% plus Pay above Rs.7100/- to Rs.11300/- 3 rd slab On part of Basic 0.12% plus Pay above Rs.11300/- to Rs. 12025/- 4 th slab On part of Basic 0.06% Pay above Rs. 12025/- * Effective from 01.04.1998 HOUSE RENT ALLOWANCE:
13 *(1) Where an Officer is provided with residential accommodation by the Bank, the Officer should pay to the Bank, every month 2.5% of the Basic Pay at the first stage of the scale of pay in which he is placed or the standard rent, whichever is less for the unfurnished accommodation provided to him by the Bank, and shall also pay additional
0.50% of the Basic Pay at the first stage of the scale of pay in which he is placed towards the furniture and/or furnishing, if any, provided to him by the Bank.
*(2) Where an officer is not provided with residential accommodation by the Bank, the officer shall be eligible for a House Rent Allowance(HRA) per month, depending on place of posting, as under :
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(i) Major ‘A’ Class cities 9% of Pay (New Delhi, Mumbai, Kolkata Chennai, Hyderabad, Bangalore, Ahmedabad) and Project area Centres in Group A.
(ii) Other places in Area I 8% of Pay (population of 12 lakhs and above) and Project area centres in Group B.
(iii) Other places 7% of Pay (Project area centres in Group A and Group B will be as per classification in Banking Industry).
Provided that if an officer resides in a rented accommodation and produces a rent receipt, the house rent allowance payable to him shall be the actual rent paid by him for his residential accommodation in excess over 2.50% of the pay in the first stage of the scale of pay in which he is placed or 150% of the House Rent Allowance payable as above, whichever is lower.
Note: ‘Pay’ for the purpose of House Rent Allowance shall mean basic pay including stagnation increments in terms of revised pay scales as on the 1st Day of April 1998.
* Effective from 01.11.1999
(3) Where an officer resides in his own accommodation, he shall be eligible for a house rent allowance on the same basis as mentioned in sub-regulation (2) as if the officer was paying, by way of monthly rent a sum equal to one-twelfth of the higher of A or B below, as declared by the officer.
A The aggregate of: -
(i) Municipal taxes payable in respect of the accommodation; and
(ii) 12% of the capital cost of the accommodation including the cost of the land and if the accommodation is part of a building, the proportionate share of the capital cost of the land attributable to that accommodation, excluding the cost of special fixtures like air conditioners, or B The annual rental value taken for municipal assessment of the accommodation EXPLANATION: For the purpose of this Regulation “standard rent” means:
(a) in the case of any accommodation owned by the Bank, the standard rent calculated in accordance with the procedure for such calculation in vogue in Government ;
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(b) where accommodation has been hired by the Bank, the contractual rent payable by the Bank or rent calculated in accordance with procedure for such calculation in vogue in Government, whichever is lower.
RESIDENTIAL ACCOMMODATION *14. No officer shall be entitled as of right to be provided with residential accommodation by the Bank. It shall, however, be open to the Bank to provide residential accommodation on payment by the officer of 2.5% of the basic pay at the first stage of the scale of pay in which he is placed for unfurnished accommodation and 3% of the basic pay at the first stage of the scale of pay in which he is placed for furnished accommodation or the standard rent, whichever is less for such accommodation. Where such furnished or unfurnished residential accommodation is provided by the Bank, the charges for electricity, water, gas and conservancy shall be borne by the officer and not by the Bank.
* Effective from 01.11.1999 CITY COMPENSATORY ALLOWANCE:
*15. An officer shall be eligible for City Compensatory Allowance, depending on place of posting, as under :
Area Rate Max.(Rs.)
(i) Places in Area I 4 % of 375/- and in the State Basic Pay of Goa
(ii) Places with 3 % of 250/- population of Basic Pay 5 lakhs and over and State Capitals and Chandigarh, Pondicherry and Port Blair * Effective from 01.11.1999 ADVANCE INCREMENT/FIXED PERSONAL ALLOWANCE :
*15A. (1) Officers who are in service as on 1.11.1993 and are granted an advance increment on account of computerisation as on 1.11.1993 shall draw the Fixed Personal Allowance(F.P.A.) one year after reaching the maximum. The Officers who are at the maximum of scale of pay as on 1.11.1993 shall draw FPA as from that date, i.e.
1.11.1993.
17 In respect of Officer employees who are not provided with Bank’s accommodation, the HRA component of FPA shall be the increase in quantum of HRA drawn by the concerned Officer employees when the last increment of the relevant scale of pay as specified is earned.
(2) FPA given hereunder together with HRA, if any, shall remain frozen for the entire period of service.
Increment D.A. as on Total FPA Component 1.11.1997 payable where Bank’s accommodation is provided.
(A) (B) (C) -------- --------- -------------------- Rs. Rs. Rs.
340 4.28 345 380 4.78 385 420 5.29 425 600 7.56 608 Note:
(i) FPA as indicated in (C) above shall be payable to those Officer employees who are provided with Bank’s accommodation.
(ii) FPA for Officers eligible for House Rent Allowance(HRA) shall be (A)+(B)+HRA as indicated above rounded off to the next higher rupee.
(iii) The increment component of FPA shall rank for superannuation benefits.
* Effective from 01.11.1999 MID-ACADEMIC YEAR TRANSFER ALLOWANCE:
16. If an officer is transferred on long term basis, from one place to another in the midst of an academic year and if he has one or more children studying in school or college, in the former place, he shall be eligible for a mid - academic year transfer allowance of Rs.100.00 per month from the date he reports to the latter place upto the end of that academic year in respect of all the children, provided that such allowance shall cease earlier if all the children cease studying at the former place.
18 DEPUTATION ALLOWANCE:
17. If an officer is deputed to serve outside the Bank, he may opt to receive the emoluments attached to the post to which he is deputed. Alternatively, he may in addition to his pay draw a deputation allowance of 12% of his basis pay subject to a maximum of Rs. 700.00 per month and he shall draw such other allowance as he would have drawn had he been posted in the Bank’s service at that place. Provided that where he is deputed to an organisation, which is located at the same place where he was posted at immediately prior to his deputation, he shall receive a deputation allowance equal to 6% of his basic pay subject to a maximum of Rs. 350.00 per month.
MEDICAL AID: