CENTRAL OFFICE REVISED THE POLICY FOR PROVIDING FURNITURE/FIXTURE AT THE RESIDENCE OF THE OFFICERS

AICBOF, the recognised majority organisation representing the Officers in Central Bank of India, has been demanding the management to revise the policy for providing furniture at the residence of the Officers. The issue was discussed in the recently held joint discussions at Central Office. We are very glad to place here that C.O. management has revised the policy for providing Furniture/Fixture at the residence of Officers in Scale-I to V.

We are placing here the salient features of the policy.

Ø  The  scheme  will  be  applicable  to  all  Officers  up  to  SMGS-V,  residing  in Bank’s  residence/ leased  residence/ residence owned by the Officers and/  or residence taken by the officers on rent.

Ø  All confirmed officers, including Officers in specialist category in JMGS I to SMGS  V,  who  are  governed  by the  Officers’  Service  Regulations,  1979,  as amended  from  time  to  time,  will  be  eligible  for  availing  of  the  facility. Accordingly, officers who have joined the Bank on contract basis will not be eligible for availing of the facility.

Ø  Officers in TEG Scales- VI and VII are proposed to continue to be provided with fully furnished accommodation (within their respective entitlements) and shall thus continue to be governed by the existing provisions for the present. However, the  norms  for  purchase  of  furniture  on  superannuation  presently applicable  to  them  shall  be  streamlined  and  shall  be  made  applicable  to  all scales as per the new  policy.

Ø  The eligible amount of ceiling for supply of furniture is revised upwards for all scales.

Ø  Officers  will  henceforth  be  allowed  to  purchase  the essential items of furniture/fixtures of their choice within the limits prescribed for  each  grade/  scale  from  reputed  dealer  at  the  place  of  residential accommodation/ nearest big centre if the residence is at rural and semi urban centre.   However, the items to be purchased shall be from the standard list of items permissible by the Bank.  Further, items, on the basis of their utility, can be approved by an officer  not  below  Scale  V  (for  officers  up  to  Scale  IV)  and  Scale  VI,  in addition to the revised standard list of items.

Ø  The Officers who have already been provided with the Bank’s furniture at their residence will not be permitted to surrender the same.   However, their entitlement for purchase of furniture/fixtures under the new scheme will be   decided   by   reducing   the   original   cost   (original   purchase   price)   of furniture/fixtures which they are holding from the new monetary ceiling fixed for their respective grade. The officers in such cases can purchase new items of furniture as per their choice within their residual fresh entitlement. Further, in case some of the items of furniture/fixtures which they are holding are more than 10 years old, the original cost of such items shall be reduced from the aggregate original cost of furniture which they are holding while working out their fresh entitlement.   There would also be cases where certain items of furniture are fixed to the wall such as Almirah, shelf etc in the flats owned by the bank.  In such cases, all such items shall be deemed to be over and above the entitlement of the concerned officer.   Such items shall continue to be in the possession of the bank.

Ø  Once the officer purchases the essential items of furniture/fixtures as per his choice  within  the  overall/ available  limit  of  his  entitlement,  he  will  not  be permitted   to   surrender    the   same    to   the    Bank.    He    will   carry   the furniture/fixtures  on  his  transfer  to  the  new  place  of  posting  within  the eligibility  of  transportation  of  household  goods  and  no  additional  claim  for transportation of Bank’s furniture/fixtures will be entertained.

Ø  There shall be one entitlement ceiling for each scale, irrespective whether the officer is working as Branch Manager or otherwise.

Ø  Monetary ceilings for purchase of furniture/fixtures for various grades will be as under:-

GRADE / SCALE	REVISED CEILING FOR FURNITURE INCLUDING FIXTURES (RS.IN LACS)
SMG V	3.50
SMG IV	3.10
MMGS III	2.25
MMGS II	1.80
JMGS I	1.50

Ø  Though the Executives in Scale VI and VII are not covered under this scheme, the monetary ceiling for them is also revised as under:

GRADE / SCALE	REVISED CEILING FOR FURNITURE INCLUDING FIXTURES (RS.IN LACS)
TEG VI	2.40 + FIXTURES + CURTAINS
TEG VII	3.25 + FIXTURES + CURTAINS

Ø  The Officer shall have to opt for the purchase of the furniture items as per the above  eligibility  within  30  days  from  the  date  of  the  relevant  circular. Piecemeal purchases/ advance shall not be allowed.

Ø  No repairs of the furniture/fixtures, minor or major, will be undertaken by the Bank.  The  Officers  will  be  eligible  for  annual  reimbursement  of  expenses equivalent to 5% of the total value of furniture/ fixtures allowed (rounded off to the nearest 1000 rupees) on account of repairs, insurance (including transit insurance,  whenever  furniture/fixtures  are  required  to  be  transported  for  any reason) etc. However, no reimbursement of this amount will be made within one  year  from  the  purchase  of  new  furniture  and  the  officer  will  have  to arrange   for   the   repairs/insurance   at   his   own   cost   during   that   period. Nevertheless, considering the fact that the officers presently are already having the furniture, which might be old and might require repairs/ polishing, furniture which is one or more years old, reimbursement at the above rate will be admissible, on the original cost price of such furniture.  In case of any loss for whatever reason, the officer shall have no claim towards the Bank and he himself shall be responsible for claim from the Insurance Co.

Ø  The eligibility for such amount shall be reckoned on 31st March of the relevant financial year of purchase. The officers will have to claim this amount every year from 1st May to 30th June and no carryover of such claim to the next year will be permitted. On promotion, any officer may become eligible for higher ceiling for purchase of furniture/fixtures.    In  such  an  eventuality,  he  may purchase the additional items of furniture within the ceiling prescribed for his new  grade  and  claim  that  additional  amount  from  the  Bank.  However,  if  an officer continues to remain in the same grade and the entitlement of that grade is  enhanced  for  any  reason  whatsoever,  he  will  not  be  entitled  to  claim  the enhanced amount.

Ø  Where both husband and wife are employees of our Bank, either of them can avail of the facility.

Ø  After purchasing the furniture/fixtures from reputed dealer, the officers  will have  to   use   the   same   for   10   years.   Thereafter   the   ownership   of   the furniture/fixtures will be transferred to the Officers. They would be eligible for availing of the facility again subject to the condition that their eligible amount for   this   purpose   shall   be   reduced   by   the   residual   book   value   of   the furniture/fixtures supplied last time.  However, the facility will be available to an officer for maximum of three times in the entire service.   If the officer is promoted to TEGS VI at any stage, this facility of reimbursement at the cost of  essential  furniture/fixtures  will  not  be  available  to  him  thereafter  and  his entitlement for physical supply of furniture/fixture in his new scale of  TEGS VI will be reduced by the book value of the furniture/fixtures provided to him when he was SMGS-V Officer.

Ø  At the time of retirement/voluntary retirement /removal/dismissal of the Officer, if  an  officer  has  put  in  more  than  five  years  of  service  from  the  date  of purchase of/ reimbursement for furniture/fixtures, no recovery shall be made from him and the ownership of Bank’s furniture/fixtures will be transferred to him.   However, if an Officer is retired/voluntarily retired/removed/dismissed from the service within 5 years from the date of purchase/ reimbursement for furniture/fixtures,  the  book  value  of  the  furniture/fixtures  will  be  recovered from his terminal dues.

Ø  In the unfortunate event of death of the official while in service, the family  of  the  deceased  officer  will  be  given  the  furniture/fixtures  already purchased by that officer free of cost, irrespective of the period of purchase of the furniture.

REVISED LIST OF ITEMS:

Ø  Single/Double wooden cots with Dunlop/Coir mattress & pillows

Ø  Dressing table with settee

Ø  Reading/writing tables with/without drawer on both the sides with chairs

Ø  Table lamps

Ø  Storewells (almirahs)

Ø  Trolleys

Ø  Sofa sets with centre table

Ø  Dining table and chairs

Ø  Chairs (cane/metal/wooden with/without arms and folding/no folding)

Ø  Diwan

Ø  Computer table with chairs

Ø  Inverter

Ø  Bookshelves (fixed to wall or otherwise)

Ø  Sideboard in Kitchen (fixed to wall or otherwise)

Ø  Air coolers

Ø  Floor carpet (standard sizes)

Ø  Microwave oven

Ø  Washing machine

Ø  Air Conditioners

Ø  Refrigerator

Ø  Ceiling fans

Ø  Water Purifier

Ø  Exhaust fans

Ø  Electric Geyser

Ø  Telephone stand

Ø  LCD TV

Ø  Gas Stove/ Cooking range

Ø  Electric Chimney

Ø  Food Processor

Ø  Vacuum Cleaner

Ø  Or any other item as may be deemed fit and permitted by an Officer not below Scale V (for officers up to scale IV) and Scale VI