Documents

FBO

Description
Description:
Categories
Published
of 14
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Share
Transcript
  1 (Affiliated to All India Bank Officers' Confederation)Registered under the Indian Trade Union Act, 1926. Central Office: FBOA CENTRE, FBOA ROAD, ALUVA - 683 101 Phone: Office: 0484-2624646, 2627646. Fax: 2628646. Gen. Secy. (Res.): 2424457Mobile : General Secretary: 09895378557, E-mail: fboamail@gmail.com , Web Site: www.fboa.net Federal Bank Officers’ Association UNION IS STRENGTH Circular No. 45/2017-1927 th June, 2019  To All Members FBOA Achieves Landmark Settlement Victory of Our Unity We are extremely glad to inform our members that a historic settlement is signed today on 27 th June 2019 at 6.45 pm between Federal Bank Officers’ Association and the Federal Bank Management after several rounds of protracted negotiations on the internal Charter of Demandssubmitted by us. It upholds the merits of the proven and time tested bi-partite mechanism in our Bank once again proving our collective bargaining power on the one hand and manifesting thefocus of the Management on Officers’ welfare on the other. Achievement of this path-breakingsettlement ensures substantial improvement in all significant areas of staff benefit and once againreiterates our superior position in the industry with regard to the Service conditions of Bank Officers. Sri. Ajith Kumar K K, CHRO and Shri. Paul Mundadan, FBOA General Secretary,exchange the Agreement on Internal Charter of Demands in the presence of Shri. Jenib J Kachapilly, FBOA President and other Office bearers and the Management Team on 27  th  June 2019.  2 HIGHLIGHTS OF THE SETTLEMENT  Lease Rental Ceilings at all centres enhanced substantially retaining the existing additionalspecial hike in the 39 previously upgraded rental centres.  Housing Loan amount enhanced to the highest ever industry top Rs. 80 Lacs from theexisting Rs. 62.50 Lacs.  Housing Loan interest slab limit raised for greater coverage of lower interest benefit in newand existing Housing LoansUpto and including Rs. 13 Lacs-5% (simple) p.a.(Slab limit raised from Rs.9 Lacs to Rs. 13 Lacs)Above Rs. 13 Lacs upto and including to Rs. 38 Lacs-6.75%(simple) p.a.(Slab limit raised from Rs. 30 Lacs to Rs. 38 Lacs).Above Rs.38 Lacs to Rs. 80 Lacs - 7.25% (simple) p.a.  Vehicle Loan (Car Loan) limit enhanced – Scale I-Raised to Rs. 8.50 Lacs from Rs. 7.50 LacsScale II & III-Raised to Rs. 11.00 Lacs from Rs. 9.50 Lacs  Vehicle Repair Loan limit enhanced to Rs. 70000/-  Personal Loan Limit raised to Rs. 9.00 Lacs from Rs. 8.00 Lacs  Interest on Personal Loan reduced to 8.50% from 8.75%  Demand Loan Limit raised to Rs. 3 Lacs from Rs.2.25 Lacs  Interest on Demand Loan reduced from 8.75% to 8.50%  Transfer Discomfort Loan raised to Rs. 2.00 Lacs from Rs. 1.50 Lacs  Interest on Transfer Discomfort Loan reduced from 9.50% to 9.25%  Staff Gold Loan limit increased to Rs. 5.50 Lacs from Rs. 4.00 Lacs  Interest rate on Staff Gold Loan reduced from 8.75% to 8.25%  Computer Loan limit enhanced to Rs. 90000/-  Officers’ Furniture Loan on declaration basis enhanced:OFL to Scale I Officers - Raised to Rs. 1.90 Lacs from Rs. 1.50 LacsOFL to Scale II & III - Raised to Rs. 2.20 Lacs from Rs. 1.80 Lacs  Interest Rates of Federal Career Solutions Loan/Federal Vidya Loan availed by OfficersreducedInterest for Loans upto Rs. 4 Lacs reduced to 7% from 7.50%Interest for Loans above Rs. 4 Lacs reduced to 7.50% from 8%  3  Interest for new Special Vidya Loans from 01.07.2019 shall be at the fixed reduced rateof 9.75%.Interest for the existing Vidya Loans prior to 01.07.2019 can be converted to the reducedfixed rate of 9.75% or can be maintained at the existing floating rate which will become theFixed rate in such cases for the remaining loan tenure as per the option of the borrower Officer.  Digital Promotion Allowance to all Officers is increased to Rs. 2200/-p.a. payable on a half yearly basis (Rs. 1100/- each in September and March)  Festival Advance to Officers raised to Rs. 80000/- from Rs. 60000/-  Petrol reimbursement eligibility increased by additional 10 Ltrs to all Officers with 4 wheelersfrom the existing limit.  Petrol reimbursement eligibility Increased by 5 Ltres per month in the case of 2 wheelersfrom the existing limits for various catagories.  Fixed Conveyance re-imbursement increased:Scale 1-Raised to Rs. 3000/- from Rs. 2500/-Scale II & III-Raised to Rs. 3300/- from Rs. Rs. 2800/-  Re-imbursement of Residential / Mobile Phone call charges enhanced substantially.Scale 1-Raised to Rs. 1000/- from Rs. 750/-Scale II-Raised to Rs. 1450/- from Rs. 1150/-  Mobile and Phone combined eligibility increasedScale I & II (Principal Officers)-Raised to Rs. 2500/- from Rs. 2000/-Scale III-Raised to Rs.2900/- from Rs. 2400/-  Reimbursement of Entertainment Expenses enhancedScale I-Raised to Rs. 2250/- from Rs. 1800/-Scale II-Raised to Rs. 2500/- from Rs. 2000/-Scale III-Raised to Rs. 2850/- from Rs. 2300/-  Medical Check-up reimbursement enhanced to Rs. 6000/- p.a. (Officer) fromRs. 5000/- and to Rs. 7500/- p.a. (Officer plus spouse) from Rs. 6000/-.  Re-imbursement of cost of Cleansing materials enhanced to Rs. 1000/- fromRs.800/-  Reimbursement of cost of Brief Cases on declaration basis in 3 yearsScale I-Increased to Rs. 4500/- from Rs. 3750/-Scale II and III-Increased to Rs. 5000/- from Rs. 4250/-  4  Re-imbursement of Annual Vehicle Maintenance expenses.Scale I-Raised to Rs. 3700/- from Rs.3100/-Scale II and III-Raised to Rs. 4550/- from Rs.3900/-All Principal Officers-Raised to Rs. 5750/- from Rs.5000/-  Re-imbursement of cost of Newspaper/additional magazineScale I &II - Raised to Rs. 525/- from Rs. 450/-Scale III - Raised to Rs. 700/- from Rs. 625/-  Business Promotion Expenses to all Principal Officers in Scale I, II and III raised to Rs.4,000/- from Rs. 3250/- in 'A1' Centres and to Rs. 3500/- from Rs.2750/- in other centres.  Club Allowance - Admission fee enhanced to Rs. 12,000/- from Rs. 10000/- per month.  Annual Club subscription eligibility to Branch Managers enhanced to Rs.10000/- from Rs.8000/- in Metros,to Rs. 8500/- from Rs. 7250/- in State capitals and A class centres andto Rs. 8000 from Rs.6800/- in other places.  Annual Entertainment Allowance to Principal Officers stands increased (on account of theenhancement in Club allowance) to Rs. 5000/- from Rs. 4000/- in Metros, Rs. 4250/-from Rs. 3625/- in State Capitals and 'A' class centres and to Rs. 4000/- from Rs. 3400/- in other centres.  Out of pocket expenses on ATM supervision enhanced to Rs. 2000/- per month fromRs.1800/-  System Administrator Allowance increased to Rs. 1350/- from Rs. 1250/-  Additional Lump sum amount payable on Transfer enhanced to Rs. 19000/- fromRs.17500/-, to Rs. 28500/- from Rs.26000/- to Rs. 32000/- from Rs.29000/-dependingon distance categories of 1000/2000/and Above 2000 kms.  Half yearly Closing Allowance enhanced to Rs. 1300/- from Rs. 1100/-  Special Purpose (Marriage) Loan will be extended to Officers for the purpose of marriageof their Sons also as in the case their Daughters  Retired Officers are given the facility to avail personal loan of Rs. 2 Lakhs for a tenure of 4 years  The revision in all allowances will have retrospective effect from 01.06.2019 and the effectivedate of the reduction in interest rate in existing and new loans will be 01.07.2019. We are attaching the Minutes of discussions along with this circular
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks