AIBOC CIRCULAR NO. 85 DATED 17.09.2011

AIBOC issued its circular no. 85 dated 17.09.2011 on the revised guidelines issued by the Govt. on Festival Advance to Bank Employees/Officers. We are reproducing the same here for our readers.

CIRCULAR NO. 85                          DATE: 17.09.2011

To, All Affiliates /Members

FESTIVAL ADVANCE -  REVISED GOVERNMENT GUIDELINES

We had taken up with the Indian Banks’ Association the matter of improvement in Festival Advance Scheme to Bank officers. We are glad to advise that, Government has revised the Festival Advance Scheme for Bank employees /officers, which have been communicated by IBA, in terms of their Circular HR&IR/76/624C/2011-12-400 dated 09.09.2011. The revised scheme has come into force w.e.f. 09.09.2011. The details are as under;

Officers                           -       One month’s Basic Pay

                                                Max. Rs. 25,000/-

Clerks                               –     One month’s Basic Pay

                                                Min. Rs.8, 000/-

                                                Max. Rs.20, 000/-

Sub –staff                       –      One month’s Basic Pay

                                                Min. Rs.6, 000/-

                                                Max. Rs.15, 000/-

Already in some of the Banks, the limits were revised at the Bank –level. Wherever the existing scheme is better, the same would continue. But in many Banks, the old limits are being implemented. Affiliates are requested to take note of the revised Guidelines and take up the matter with their managements for implementation of the same.

With greetings

Sd/-

(G.D. NADAF)

GENERAL SECRETARY