We greet the nation and the entire fraternity of Punjab National Bank “A VERY HAPPY AND PROSPEROUS NEW YEAR 2018”

We are at the threshold of New Year 2018. We greet the nation and the entire fraternity of Punjab National Bank “A VERY HAPPY NEW YEAR 2018”. 

For detailed Circular Click: http://aipnbsf.org/files/New%20Year%20Greetings.pdf

On 14th Nov. 17 unions' demands relating to Disciplinary Action Procedure, overtime calculation & various leaves were discussed

In the Sub-Committe Meeting for workmen held on 14th November 2017 unions' demands relating to Disciplinary Action Procedure, calculation of overtime, Leave Bank and other leaves were discussed.

For detailed circular Click: http://aipnbsf.org/files/NCBE%20Cir.%2030.pdf

DA payable to employees for the Qtr. Nov 2017 to Jan 2018 shall be 516 slabs i.e. an increase of 38 slabs from the current level

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the quarter November 2017 to January 2018 shall be 51.60% of ‘Pay’ against 47.80% of ‘Pay’ applicable for the previous quarter. 

Shri Jatinderbir Singh IAS, Chairman & Managing Director, Punjab & Sind Bank elected as Chairman, IBA for the year 2017-18

The Managing Committee of IBA at its meeting held on 27th October, 2017 elected Mr. Jatinderbir Singh IAS, Chairman & Managing Director, Punjab & Sind Bank as the Chairman, IBA for the term 2017-18.The other Office-bearers of the Association elected are Ms. Usha Ananthasubramanian, MD & CEO, Allahabad Bank, Mr. M O Rego, MD & CEO, Syndicate Bank and Mr. Shyam Srinivasan, MD & CEO, Federal Bank Ltd. as Deputy Chairmen and Dr. N. Kamakodi, MD & CEO, City Union Bank Ltd, as Honorary Secretary of the Association for the year 2017-18.

Govt announced infusing Rs 2.11 lakh crore to strengthen PSBs through recapitalisation bonds, budgetary support & market raising

The government has announced infusing Rs 2.11 lakh crore to strengthen public sector banks, through a mix of recapitalisation bonds, budgetary support and market raising, said banking secretary Rajiv Kumar.
Part of the money will be from banks raising their own capital, where the government can reduce their stake to 52 percent, said Arun Jaitley, who called it a “bold move”. The infusion will be front-loaded through recapitalisation bonds, whose nature will be decided in due course, Jaitley added.
Strengthening the country's banking system will result in more jobs, growth and investments, Kumar added. Banks are ready for a take-off due to strong economic fundamentals and push to public investment in infrastructure, he added.
In three and a half years, the government has already infused Rs 58,848 crore in PSBs under the Indradhanush plan. This is compared to Rs 62,734 crore infused in the six years to 2014, Garg said.
The government's recapitalisation plan is "why banks have mostly remained Basel-III compliant," he added.

On 24th Oct 17 nonfinancial issues like Addl Sick Leave, distance under LFC, more HRA in difficult & border areas were discussed

On 24th October 2017 in meeting with IBA discussion took place on non-financial issues like additional sick leave, distance under LFC, LFC for employees in North East, Andaman and far away places in extreme north, project area quarters, more HRA in difficult and border areas,etc.

Separate meeting will be held in the matter of our demand for modifications to disciplinary action proceedure. Next meeting of Sub-committee of IBA with workmen unions will be held on 14th November 2017.

For Detailed Circular Click: http://aipnbsf.org/files/Cir.%2023_1.pdf

On 27 Oct IBA proposed merger of DA as on Oct 16 for working out revised pay scales. UFBU insisted on negotiation upto Scale VII

In the meeting of Negotiating Committee of IBA with the representatives of constituent workmen unions and officers' organisations of UFBU on wage revision held on 27th October 2017; IBA proposed merger of DA as on October 2016 for working out revised pay scales. IBA also wanted introduction of variable pay for officers for which unions did not agree. Unions insisted on negotiations to cover up to scale VII. Data on Establishment Expenses as on 31-03-2017 was also provided by IBA.

For Detailed Circular Click: http://aipnbsf.org/files/Cir.%2024.pdf

Cabinet approves introduction of Payment of Gratuity (Amendment) Bill 2017 in the Parliament - Ceiling be revised to Rs.20 Lakhs

On 12th September 2017, the Government initiated the process for amendment to Pyment of Gratuity Act, 1972. Union Cabinet approves introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament. Gratuity ceiling be revised to Rs. 20 Lakhs.