Opposing the decision of boards of directors of five associate banks of State Bank of India (SBI) to close down and merge with SBI, the All India Bank Employees’ Association (AIBEA) has called a strike on May 20.

As per reports, State Bank of India (SBI) is all set to merge its five associate banks and Bharatiya Mahila Bank (BMB) with itself to emerge as a financial behemoth, with assets worth Rs 37 lakh crore ($550 billion).

Its five associates are State Bank of Bikaner & Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT). BMP, started in 2013, is a Delhi-based public sector lender.

In a statement Tuesday, AIBEA said it has called an all-India strike in the five SBI associate banks — State Bank of Travancore (SBT), State Bank of Mysore (SBM), State Bank of Hyderabad (SBH), State Bank of Bikaner and Jaipur (SBBJ), and State Bank of Patiala (SBP) — on May 20.

According to AIBEA, at the board meetings of the five SBI associate banks held in Mumbai on Tuesday, an agenda was brought to close down the associate banks and for acquisition by SBI.

“Despite opposition and protest by all the AIBEA’s Workman Directors and a few other independent directors about the proposal and the procedure adopted, the resolution has been approved in this regard,” the statement said.

“It is shameful that when the government is talking of corporate governance and good governance, board agenda is brought without intimation on such a serious matter and decision is taken,” AIBEA added.

According to the statement, the decision of the five banks is not in consonance with what Finance Minister Arun Jaitley had suggested to the union at their meeting on March 23 and April 25 this year.

“He opined that all the five banks can be made into one single entity. But what SBI and the Associate Banks are trying to do is the opposite to what the FM (finance minister) had suggested,” AIBEA said.

Source: BS

The post All India Bank Employees Association (AIBEA) Calls for Strike on May 20 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

PENSION  –  Dearness  Allowance  to  the  Pensioners  and  Family  Pensioners  – Revised rate admissible from 1st  January, 2016 – Orders – Issued.

Read :

1. G.O.Ms.No.264, Finance (Pension) Department, dated: 16-10-2015.

2. G.O.Ms.No.117, Finance (Allowances) Department, dated:20-04-2016.

3. Government  of  India,  Ministry  of  Personnel,  Public  Grievances  & Pensions,   Department   of   Pension   &   Pensioners’   Welfare,   New Delhi’s   Office   Memorandum    F.No.42/06/2016-P&PW(G),    dated: 11-04-2016.

    ORDER :

In   the   Government   Order   first   read   above,   orders   were   issued sanctioning the revised rate of Dearness Allowance to the State Government Pensioners / Family Pensioners as detailed below:-

Date from  which payable     Revised  rate  of  Dearness

Allowance    (per  month )

1st  July, 2015.     119 %  of  Pension  /  Family  Pension

2. The  Government  of  India,  in  its  Office  Memorandum  third  read above  has  enhanced  the  Dearness  Allowance  payable  to  its  Pensioners  / Family Pensioners from the existing rate of 119% to125% with effect from 1st January, 2016.

3. Following   the   orders   issued   by   the   Government   of   India,   the Government  has  now  decided  to  sanction  one  additional  instalment  of Dearness Allowance at the rate of 6% to the Pensioners / Family Pensioners of   the   State   with  effect  from  1-1-2016.     Accordingly,   the   Government sanction the revised rate of Dearness Allowance to the State Government Pensioners / Family Pensioners as indicated below:-

Date from  which payable     Revised  rate  of  Dearness

Allowance    (per  month )

1 s t   J a n u a r y ,  2 0 1 6     125% of Pension / Family Pension

4. The   Government   also   direct   that   the   increase   in   Dearness Allowance  shall be paid in cash to the Pensioners  / Family Pensioners with effect from 1-1-2016.

5. While  arriving  at  the  revised  Dearness  Allowance,  fraction  of  a rupee  shall  be  rounded  off  to  the  next  higher  rupee  if  such fraction  is  50 paise and above and shall be ignored if it is less than 50 paise.  It will be the responsibility  of  the  Pension  Disbursing Authority  including  Public  Sector Banks to calculate the quantum of Dearness Allowance payable in each individual case.

6. Pending formal authorisation  by the Principal  Accountant  General, the  revised  Dearness  Allowance  shall  be  paid  straightaway  by the Pension Pay   Officer,   Chennai-6,   Treasury   Officers   and   Public   Sector   Banks concerned.

7. This order will apply to the following categories of pensioners:-

(i) Government  Pensioners,  Teacher  Pensioners  of aided  and  local body  educational  institutions  and  other  pensioners  of  local bodies.

(ii) The  State  Government  employees  who  had  drawn  lumpsum payment on absorption in Public Sector Undertaking / Autonomous Body / Local Body / Co-operative institution and have become entitled to restoration of 1/3rd commuted portion of pension as well as revision of the restored amount.

(iii) Present  and  future  family  pensioners;  In the  case  of divisible family pensioners, Dearness Allowance shall be divided proportionately.

(iv) Former   Travancore-Cochin   State   pensioners   drawing   their pension  on  1st   November,  1956  in  the  Treasuries  situated  in the areas transferred to Tamil Nadu State on that date, i.e. Kanniyakumari District and Shencottah taluk of Tirunelveli District.

(v) Pensioners who are in receipt of special pensions under Extra- ordinary Pension Rules, Tamil Nadu and Compassionate Allowance.

8. The expenditure  on Dearness  Allowance  payable  to the Pensioners and Family  Pensioners shall  be  debited to the  following Heads of Account respectively:

“2071.   Pension   and   Other   Retirement   Benefits   –   01.   Civil   –  101. Superannuation  and Retirement  Allowances  – I. Non-Plan  – AC. Dearness Allowance to Pensioners – 03. Dearness Allowance (D.P.Code 2071 01 101 AC 0306)”

“2071.   Pension   and   Other   Retirement   Benefits   –   01.   Civil   –  105. Family Pensions – I. Non-plan – AC. Dearness Allowance to Family Pensioners of Tamil Nadu Government – 03. Dearness Allowance (D.P. Code 2071 01 105 AC 0308) “.

9. Orders regarding sanction of Dearness Allowance to the widows and children of the deceased Contributory Provident Fund / Non Pensionable Establishment  beneficiaries  of  State  Government  and the  former  District Board who are drawing ex-gratia will be issued separately.

10. The   increased   expenditure   due   to   the   sanction   of   Dearness Allowance in this order is allocable among the successor States as per the provisions laid down under the State Reorganization Act, 1956.

Download TN Govt G.O.No.118 dated 20.04.2016.

The post Tamilnadu Government increased the Dearness Allowance to Pensioners and Family Pensioners from 1st January 2016 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.