AIBOC CIRCULAR NO. 64 DATED 19.07.2012

AIBOC issued its circular No. 64 dated 19.07.2012 on compensation to banks’ employees/general public who are killed in Bank Robbery, Terrorist incidents including Left-Wing extremism. We are placing the here for our readers.

CIRCULAR NO.64                                                 DATE: 19.07.2012

TO ALL AFFILIATES/MEMBERS:

COMPENSATION TO BANKS EMPLOYEES/GENERAL PUBLIC WHO ARE KILLED IN BANK ROBBERY, TERRORIST INCIDENTS INCLUDING LEFT – WING EXTEREMISM

We reproduce hereunder the text of UFBU Circular.No.16 dated 12th July, 2012 contents of which are self-explicit.

With greetings,

Sd/-

(D.S. RISHABADAS)

GENERAL SECRETARY

TEXT

You are aware that the compensation paid by bank to the family of the employees killed in Bank robbery, Terrorist attack etc is as per Govt. guidelines issued long back. The quantum of such compensation was inconsistent as compared to the collateral damage which takes place to the family of employees. The matter was discussed with the Govt. of India by UFBU time and again. We are pleased to inform you that the Govt. of India vide letter F.No. 6/4/2012-IR dated 3rd July, 2012 has revised the scheme and instructed the CMD of different banks to get the scheme approved in their respective Boards. We request our different constituent unions to take up with the respective banks for its early approval in their Board for immediate implementation. The salient features of the scheme are furnished below:

1)    In case of death of an employee as a result of or during bank robbery or attacks by terrorists, including left-wing extremism on bank employees, the family of deceased will be given compensation by the bank as follows:

In case of death of Officers                            : 20 Lacs

            In case of Clerical/Sub-Staff                          : 10 Lacs

2)    The banks concerned will look after educational expenses of the children of the deceased upto and inclusive of graduation.

3)    The bank will give immediate employment to one member of the family of the deceased in accordance with the guidelines of compassionate appointment. In case none is able to immediately take up employment, the Entitlement will be held in abeyance till one of the members of the family becomes eligible for and is in a position to take up such appointment. In case compassionate employment is not taken up, the pay and allowances last drawn by the deceased may be extended to the family till one of the children of the family reaches 21 years of age or till the date on which the deceased would have retired in normal course, whichever is earlier. Such payment of pay and allowance will be available only if the dependent is not gainfully employed elsewhere.

4)    The loans for housing etc. which might have been availed of by the employee may be transferred to the family member if any compassionate appointment is given, irrespective of his/her normal eligibility. If compassionate employment is not sought by the family, the interest part may be waived and only principal be recovered from the compensation/other dues payable.

5)    In respect of the persons other than the Bank employee who may get killed as a consequence of or during robberies and/or attack of terrorists, the bank will pay a lumpsum compensation of Rs. 3 Lacs to the family of the deceased.

6)    In case of Bank employees/customers/members of public who actively resist bank robberies and terrorists attacks on bank, the bank may consider a Cash reward not exceeding 2 Lacs. In addition, the bank employees may be given an out of turn promotion, if they satisfy the minimum conditions of eligibility prescribed for direct recruits to the post but without reference to the number of years of service rendered. Employees not covered for criterion for promotion may be allowed three advance increments in their existing grade on a permanent basis.

7)    All expenses for treatment of injury caused during or at the time of resisting bank robbery/terrorist attack on banks, including hospitalization of the victims (bank employees/members of public/customers) shall be borne by the bank.

8)    The cash reward mentioned in clause (vi) above will be in addition to the compensation, if any, to which the person may be entitled to under the provisions of various Acts/Rules governing him/her.

9)    These guidelines shall be uniformly applicable throughout the country including North-East and in left-wing extremist areas. It may also be ensured that no parallel scheme may be run by the Bank in this regard.

With greetings,

Yours comradely,

Sd/-

(P.K.SARKAR)

CONVENOR