In these regUlations, unless the context othe~ise-ieq~ites, __ • : •. - - • f - -\ '/ i: (a) "Ace'.rp.eans_the N~#on~iI:-IO'i_lsing-B~iiil(Act, 1~i87.(53 of1987Vi _ "" , ' ',,' - .
(p). "~~tua1"Y"sh~l1 hav& t~e:meani;uga~sigpe.d'to·~t in daus~' (1) ot=se~tidri.i of the I InSllraI~Ce,Act, t 93 8 X4~b:t193'B).i _:. , . •. _ _ _ ' .' .'
. . . .; .
(c) "APpeMix,,'mea:qs, 'lllAppe,qdix ou4l'e~tdth~~.~·i"I\1'f~U0fi.s), '.' .
(d) . "avetags ~;l1~1tl1Uelltg":lll~ans the ~Y¢tage of tli~.pay dra:wn by ail- employee '" during {lla-Iasttellmollths.Of1-!ia s~0ripe111tlte'Bank:;' .: _... ' _
(e) "~.~11k"Ineans "the National Housiilg::aanl~"! .
. : .', , "'I;. ' ", '.' ," , .
(f). I'ch.ild" mea:ns a ohild' Qfthe,f:jmployee,iwhoj ifa.spu is,1m4ei;_ tweit!y<-.tiv.e years of age, and if a da~lghtt3r. is ul11.llqllled and' J:S.1mde:r t~~nty'-fiye years of age and tIle expressiem "child~'en/' sha]l'be ;4dnsttuyd. ~bcbtdingly; .
'. , • " : .•.. ';.. J- ,'.: •
(g) "competent alllho'rity" mealls'CliaiI:mail'8Jild Mmiag:in.g:pir~ctor of the Bank or any other autlioriLy that may be desig.l1ate.d by-the·.:Board for the purpose of these reglJlations~ -
(h) "contfibuUon" means any sum credited by:~~e r~ankon bedialf of e.mploye;.e to' the Prtwide)'lt T;'m{21';.butshall IiQL lnc1ude anJ/~llUl cr~dited.as'jl1tere~t; .
. > '.'
)- •• "1 •••. _ ".
(i) "cI-a.l:~ of i"etirenwnL" meaup the·.last d~te ~of the' rnonth:in.Whlch afJ: emlJloyee ' attains the.age oisllperamlUati0l1 or thej date 6n whlen he lS)'etire'd 8y th~ Dank 01' the date on which the eni_ployee yohqtta/ily retires; or the date on which the officer is-deemed to Have retired;_ ' ' ; _, "deeri~ed tb have ietltecl" In~aIls cess.atlon fi-~iir. s~rvice of t~Te 'Bank on nppointl11ei-lt by. Cen:ti-al' Go.vermnent as a whole,·time: .b:ir~ctoI:--OT Managing Director or Cilainl)an in tJl€~BaTik -01' in any oth~r ba11lc speci:f:ied in column 2 of the 1,'11-3t Schedule ·to tile· A,Gt or ·the _B'alilting Cdmpa~ies' CA_'C'quisitiori and Transfer of Undertaking-s) 'AQ,t~1970 -(5 of 197q) or the· Ba~il<iilg COlhljarifes (Acquisition' and Tra~lsfet cif Undertakings) ~ct> 1~80·{40 -0[.'19$0) or in a~y I)-ublic financial instituti?l1 .cq:the St~tel;r;3a.nkof.ln~ia esta~li$h,eclull0er State B anlc. of India Ant, 19'55 (23'0;[ 1;9.55)i r;._ . ..". - ; _ , _ ' ., . '. , ," .' -. ',' . , -, ;' ..,,!
) i ' I r II: " I' '.
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,.
I 1 I ~ t· I 40 .
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TBE GAZE'rrE OFIMPlA: :iprIRAORDINA1~Y .,\!I,'..lPMt"drr:--:-"~EC:tl]. " ' ... ~
(k) ,"~Discipline and, Appeal Rew_Qat:i.ons" llle,ans the National :rJ~JUsiil~Bank " EJIlP.1Qye.es~:(b~sGjpllli~?l~tlARP,~,al)Re~atiDl18,. 1994j.'
O) f(etiJ.pl~yee';means ~y. pers6~' ~niplciy~d:';:lh'lIte 'servk~ of th~'Banle all full time work on peIn'lanenl: hasi~ and who opts and is' goyernetl by' these IegulatiOl~s,.hIt does notinclude '3.per:so'n employed ei'ther 011'C(~DtlaGt basis or dai!y wa~~,basls; . .. .' '.
(m) "family" in :ref~tion tel,aI~e!1J.PlbYye means, -
(a);wife. ill the ~q~e' ~f~ fuale erriplQyee 'athllsbancl. in til~ ¢8Be df a fern~le '.'.~rnployeej .' . . I'" ~:;
(b) a judicially :separat~4 Y/,{f5 Qt· hbsband; ',stICh ,~iparBI.ro.il ;not being granted ·.oIlthe gr.oUl~d 'of acl,H.Hery and the' pctrSoll"surVlViI'lg 'waS'i1OC helel, guUt-j·,cif60i11i#itting.q:dultew;' . '. , ..
(c) s~rt wlw has:·not;l1ttai:n.\d the. ,age of twrpty:..:fiyg y@ars 'and ummirriecI daughter who lias ncrt)rttained the age 6f"lweTJiy;..:.flve yeRt$; :i:h.c..li1dipg such .
son or daughter- adopteci"legilly';, . . .
. (n) "financial year" mcap's a yea)_'ccrl1~enci11g art ··l~t.day' of .July or ;uch other date as may'be d~teirirli1ed by:om~;:BcjaId; ,.
" . ., . .,
(0) u"Fundi, means th~ NqtlonaJ:, Holising~ Ba.IJk (EmplOyees') ..Pe.rl,~ion Fund , constituted underreg1J.lit:i.op: 5; .
(p) "notifTe'd date,j means the d'ate ot:,! whfch tilese Regul~tf()ns are pll bJishec(. in the Official GaZette. ' '" .' '. . • . ,'.' '.' .. '."'. .
. (q) "pay" Includes;- '.
"-":1-,. . . . !, '.' " ,
(i) tl~e-basic pay in81hd!hg 131agJ1atlordncrements;ifalIY; and
(ii) all. 8liowances :co'untedi fOl' the pi..u}Jb'se, 'Sf inak.!ng ,·cantdbi.l'tlon: to the . prov.jd~l~tfund anqforthe paYl);:Jent6fdeillI1ess' all o\.vm:tcie; 'and: ;: ,.
(Hi) hlcreJ1i~n.tcOln-p6nent 'of fi;(~~[per~Ol~'ataH;,Wa{lte~1f 'arii; :~;.1d~· ," , , . (iv) de~~ness' al1bwa..1J.c,s.calCllhlli~d lJpto In~ex Number 1 J:48. It~ the' 1\11 India A'tera,ge 'COl1sliWtir Price Index' foi' :"Jndustrial' WorlcelS': ~n. the, sedes , 1,,96D. ==.- i00.'.;. :'. ,~" " , ". . . '. '.. ..' , . .
. ~i',' . : ..._• ., ~"'i-.-..' . .
(r) : "pension" includes. ,bf;l~th~en:;JiojJj~~d'addi·tloilal::p~nsioi.l T~fei'red to in Chapter Viofthe?etegulatiol~~.,' . ' : .' ,:.. ' .: ':-;":.'.' ,', "" . '.' .', .. , ,:.,:; .
(s) . i"pensioner"'ltieElliS' 8J1efi1p}o'yee.eUgibJeJ0i·:.pe:ri~ld11 ul1de'r tbt:!s'e' reg'U'latIbns;' '.
(t) .
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(Ll) "provideni: fiJnd':~:-meant) R~;:;~I~/eBa.nle diul~lia'ProVidentl\md; - "pul;-lic fi~~at;~iatinstil:1~ti~~'" '1~~21~g:a fiJlanGiali~lBtitution.ie~h.rc1ed 8$' a .'public DnanciajjnstitunOl1'for the,pLu.Jl!3~() of secti'6ii 4A of the Companies. 6ct? 1.956 (1 of 1956); ",' . _" '. .
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I. ~·ll.U-'l!f~.4.l· " ,._;.
._ " ~ '(v) •"qtiafjryhfg ~ervjce" !'II;'ait•. tho s~&jse rJ,qererl iv1in~tin duly or OUtetwise whi6h shall 1l<!.talie" ;ute:aecou#(f",r the pulpo~e' of PM"lOri uMer th.es~reg~latloli3:' . '. . :, . . '" " .
(w) "retired" wtlildes. d' • ."ed to haye. teUted ll11o!erc1a~6e (j)of:r~guiktlon 2.. '..
. '. . ,. '. " .. '
(x) <~retirel11ent"'rneans cessfl:UOllfro!I1~'an1cj~,service,'" '.f .,
(a) </u a1tai~& the al\~ of snP.~~.n"tWiolJsp<;oilied in N!ilIou.l Housing B~nk (Offlc~I;~')$l:~rvfeeRegul~il.ol1Sj1997;',' .: _. .•: . ..
(b) on vojll11~ly l'etireiii€Jit ,in;'ii,,;'aTdimce ,Wilh ptbyisioIlS cDntain~d j~ tegul~Hon 28 of t11e~e:r.egqlatjoiifi'~' :; . :.,. ::..•. ~. ..,:' .
fc) .Iii pr,,;".tltrl' i~~t"';ent l& ;~h")o)ip.\k .. J;ofoi'i! ~itaipiitg .the,. a,~" of s;llperan;.lUatiop.;sp~~jnBtI i,n the tf~t1Qb.aJ HOlisfrig Bi=t.nk(Ofllcers') Service .Regulations) J99:7; . ; , '.' .. ",' ... ,. . .
. (y) "Tnlst" me~tls die thl1lt'·of tile N~~ctla;lIfb4$jug Bank (EJ;p.pJbyees'y PeilsiOtl l?~lJil'constituted (m~er 3,j)\'r.gLilatib~ '(1Jo!re!iwittion 5; e .
. ; .': ..' " :" '. '. . .... .. :...: :'_':':.''.' . ~;:; ...'., .....: . .. . . i·· ..'·· . , ...
(z) ."lAisteo" means' try" tees .o{the NWO~ffl'H!l!lsiI1g Bait\: (EinpIoyee s ') Pension . FUlld cOll~i1tit!e4ul'\der "lIgeregulatio.g 0) of;egWatio1).5 . .
(2a) "y",.toe bi'tho Pl'Ovid9rrlumd' meari.'tbe fruite" (if the j)ro1>Jdertritind ~fthe . Reserve Batik o[hidi,,; .," "".""",', .'
.:.. . , ':: ,,/
(zb) All 0dler words aod 'expressi OilS used'm these >egu!ati ons, but '>0' delined, and c!e 1 jil e d ,in . t!J6 Ac t or. il;t\' );>T a(1o!lN, J:\(l\lsitl~, llaUk (OIneers ') Setyice Regulations, 1997 shai! iJave the S.,0e ",ebBing. tespective!rassi gned to .Jhem in 1)10 Act'or alO,~aid,regl.i(.tlol1S'i""!he OesemaY,be,. '., " .
'. . ,~ . . . . , .. : ' .
=2.
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...-: .' . : .C'HAPTruX{ 'Il;
APJ>LICAl'ION AND:ITl;IGIBTLllTc '. . -' . ", , .
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3. "p pli" a ti all, _, Tlni8~'re glllations shalf apply to diose elTI:plo¥ee~who;: .. '. .. . . .
J ( I) (a) We;e in tl",: service' 6f /he Bam: oil or ;;11« Ille: i) ill day of J11]y; 1988' bilt had j ctirc:ci before the· ho tiJied date; and' , . . ..
. I', (bj ..exercise an option 'il, wIiting, within' OH" llundn;d and Iweniy days nom the JlOtii~ecl 'dE~teto hecome the'inelllbeh_-'Qfthe I\llld'. and ,. . ..' . ":'. '. . ...)., " .'
(c) refund withirr si"ty da ySi 'aftenhe expiry M the said, peri ad of, "lle h nnored and.
twenty daY$ sjlMtfled in.8ubeFeglllation {o), the entire amonni' of Ille Bank's C Ol1i Tibutiotl.to lil. provident fllnd mel\)<,4ng)"ter~qt aGcrqed tlJereqn.to&eiher 1!<jijr a fUrther simple i~terest at th".rato 01; six p~i e.ni.,ip.r,ruwnm 011 the said amolint fro111 the date of settlelll ent 'of the proYided' fund' ljj( /he date of , •.fund or Ih.
aforesaid all1ciUllno the.B~nk; .... \_: ,.':. . '.,:' <. , ..
., . ",', .
(2) (a) We:re ill tQe '0rY ice of 1110:8acl( before lije ~Q1i!io;d'del" 'and canti n"!'; to ..be in the . 'service OfUl. B;'nk.on dr after the nottfied date; alld' .': .•. " .' " ,.. , . (b) exercise an opilon in writij1g Witliin .0ne)1UI).dred IWOn!y days nOm .the.hotilied ' da(~ to becolTle member ofd,e Fun~; and :. ,"'. . '. . ,....,.
(J 112 DO:i--6 . . ···.f. ~..
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" -._ ..•.
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; , THEGAZ;EIT_gOfRUJIA!EiGTRAORDINARY,:42.
(c) author~~e the tnls{:of tlw provident ,fund df the BaIIlcto liaiisfer: the· entire contribution of the Hank alq~gWith tAW interest accrued theT~ori to the 6i6dit qf the.
Fund constituted.for the,' purpose Ul1d~ttegulatiOIi '5; o:r
(3) join the serVice oithe Bank on or' afte{the 'ncitifi:ed dtite;. ot • 0 .' • .'~' 0 • • {4) ,were in the serviceof the. B,iiilk,~lUl~~;gan; tifue 011or aftet tile 9~I,iday of July, 1988 and died whlie 'in S'~tYiDe 01' aftei' Tetirement before the Ilotifiedclate in which, . - . . " ._ ,.,.. . . , case theii- families shall be ehlitied' to;penslotl 'or family. pension, as the case m,ay.
be, lindertheseTegula:tions;:Wthe-famib-'oftlle deceasixl;- " (afexcerdse: an opti.onitl. 'wtitihg ~l:~hin one' hun:dted' and twenty days :fro~' the notified dare -to become ~eihbeT aHhe Fund~ atld '
(b) refund ;{thin sixty ~ays of. hie expiry oftlle said p~iiod of one hllild~-ed tw~nty - days, sljecified in clause (a) above, the entire amount ofthe Bank's contribution 1:0"'\,,- the providelTt fund and int~rest accrued :thereon together with a furtlier- simple "I interest at the rite_ of six.per cimL p~r annl!ID froIn; the 'da:te_ of,settlement of the'-:,_,,__ :providynt fund account till the date 'Qf re:funcl 0'£ the ~f:or~said amount to\__t1i.e ]38rik. ';;_:r'. : , - --- C_" . ,: _. .' " . ;. ~ -' (. y. .' - -.,' .-
(5) These regulations shall' also' apply to the fan\ily of the· deceased. employees viha joinecl the servic€l·oftli.eBal1k on pr after the 9th day-of July, "1988 outc1iecrwhi1e in service of the Ba~ik_ -before thel}oti:fied elate,' in respeet of family pensioi1 fmc1er these l'egtiiations, Iftlle :family cif;§l,.lGl-i deceastcl employee ~- ..
(i) refunds within one hundred~ -aj~6_'twentydays liOln the Tlotifiecl dale ,the entire amourit o{ the Bank's contribbtl~)J;~ to the provident ft1l1d, j-f any, and interest acci'll'ecl thereon together with :turt~ei' simple iilterest at the rate of six per cent: per annum from the date of settleJnel~t of the PTOvidellt -fimd· Be_countLiUthe elate of refu)1d of the aforesaid, ~lilOllrrt to _tJ\~:'Bank;
• _t" o .: " .;: (,:
(U) applies. in writing fGr grant of f'aftiily pensi01~, J [I. Option to' s~bscribe to the. P:r~Ylc1enl F).u~Q. - -(1). No{withstapdi~lg: anything contained in sub-:regulatioIi: (3} of regti.1aHot;l 3, ail emplQyee wiio' jOii1Sthe s~rvice of :the 88_111< or). or after the notified elate at the 2.g'3 of thirty five yeai-s or moi-e, may, -within a period 0[,n1r16ty dl:!Ys' from tIle date of his apPointl'11ent, eletLto ,forgo l)lsdght to pension, () whereupon' these reguhtioiiS' shall. not applY, :;0 him, .:
(2) The optioil referred to in, s~b'-reglllation (1) of regui_ation, 'J once exetcised; sllaH be:
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fi nal. J:.
THE ]'UND 'f'