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Other Staff Welfare Measures

Staff Welfare Measures

Provision of free eye check up and purchase of spectacles

Rs.3000/- per employee aged 40 yrs and above, thrice in their career with interval between two reimbursements being four years.

Medical Checkup for all Staff members above the age of 35 years and their spouse

The cost of check up is Rs.2,500/- for staff members ( Rs.2,500/- for their spouses)

Grant of Scholarship for Education to the dependants of staff

825 Scholarships with amounts varying between Rs.1,500/- to Rs.4,500/- for the wards/Dependents of all Award Staff Members and Officers upto Scale IV.

Group Personnel accident Insurance Policy with OIC Ltd (HRMD.51/2017-18 dt.08.09.2017)

Round the clock Personal Accident Insurance cover to all employees has been renewed with THE ORIENTAL INSURANCE COMPANY LTD for one year, effective from 02.08.2017.

Cover: Maximum 48 times of Basic+DA.

Rent for Holiday Homes

Rent payable by the staff @ Rs.10/- per room per day.

Premium Paid for Group Gratuity Scheme to LIC of India

Under this scheme the dependants of Staff members dying in harness (who have joined the Bank before 01.07.2013) will receive Rs.1,000/-

Accessories to the differentially abled ward of the staff members

A financial assistance of Rs.5,000/- per staff member once in Career

Provision of shoes /Footwear, Towels and Toilet soaps to Sweeper 

Item  Qty Ceiling / Amount Periodicity
 Shoes / Foot wear One Pair 500 Two years
Socks Two Pairs 50 Every Year
Towels Two Towels 50 Every Year
Toilet Soap TWo 50 Every Month

Reimbursement will be made on production of bills from reputed shops. Branches are advised to debit respective BGL account to make payments

For claim form refer Cir HRM 178 dt 20.01.11

Canteen Subsidy

A subsidy of Rs.15/- per employee per working day given to all staff members. 10 Subsistence Allowance to the staff who is on LOP due to prolonged hospitalization

As per the scheme, Staff Members who are on leave on loss of pay due to prolonged hospitalization are being paid a subsistence allowance of 75% of the gross salary he/she would have been otherwise eligible, had he/she not been under loss of pay or Rs.10000/-per month, whichever is less, for a maximum period of 6 months in one occasion and 12 months in the entire career.

Grant for Educational Books and Uniforms for dependent Children of Staff

The amount of grant varies from Rs.800 to Rs.3,000/- per ward and the total no. of grants per year is 500. (I to V STD – 150 grants; VI to XII STD – 250 grants; Higher studies 100. Grants are sanctioned in the order of merit.

Accessories to the differentially abled employees

At the time of joining the Bank, an amount of Rs. 5000/- will be credited to all differentially abled employees towards purchase of accessories.

Financial Relief to the family of the staff dying in harness

Rs. 99000 who have joined on or before 30/6/2013 and Rs. 1,00,000/- for others.

FINANCIAL RELIEF TO THE FAMILY OF STAFF MEMBERS DYING IN HARNESS.

To provide immediate financial relief to the family of a deceased staff member, an amount of Rs.40,000/- is paid to the family and Rs.5,000/- within the total amount is paid on the funeral day to meet the immediate funeral expenses. Relief to the dependants of part time employees are in proportion to the scale wages drawn by them.

The limit now stands increased to Rs.50,000/- and the amount to be paid on the funeral day is also increased to Rs.10,000/- while other terms and conditions remain the same.

Memento to the staff retiring on superannuation

Rs. 10000/- on Superannuation. Permanent Part time employees drawing scale wages will be presented with Memento for an amount proportionate to their scale wages.

Reimbursement of fuel expenses for Award Staff

Rs. 450/- per month

Reimbursement of outfit and dress maintenance allowance for Officers other than Branch Managers and Executives has been increased from a maximum of Rs.375/- per month to a maximum of Rs.450/- per month

Reimbursement of Outfit and Dress Maintenance Expenses: 

Cadre Amt In Rs per month 
 General Managers  1500
 Deputy General Manager  1000
 Assistant General Manager  800
 Branch Managers in Scale IV  625
 Branch Managers in Scale III / II / I  500 

Grant of Medical aid to retired employees

Maximum eligibility - Rs. 4000/- per year

Reimbursement of Health Insurance policy premium to retired staff members

Reimbursement towards premium of Health insurance for the retiree for a maximum of premium payable towards a Policy of Rs.2,00,000 from Arogya Raksha Scheme.

Reimbursement of Annual Health Check up charges for Retd staff members

Reimbursement of Rs.3,500/- per retiree towards annual check up for the retiree / spouse

Loan against deposit to staff/retirees on concessional rate of interest:

It has been approved to extend the concessional Rate of Interest (half a percent over the rate payable on the deposit) on Loan Against Deposits (LAD) for Employees (both Serving and Retired) without any ceiling provided the deposits are eligible for preferential rate of interest under staff category.

Reimbursement of Cost of Newspaper to employees.

Classification of employee  Revised Quantum
Officers in Scale VI - VII  Actual Cost of subscription of 2 newspapers and / or financial periodicals subject to the maximum of Rs 500 p.m.
Officers in Scale IV and V  Actual Cost of subscription of 2 newspapers and / or financial periodicals subject to the maximum of Rs 350 p.m.
Officers in Scales I, II and III  Actual Cost of subscription of 1 newspapers and / or financial periodicals subject to the maximum of Rs 225 p.m.
Clerk  Actual Cost of subscription of 1 newspaper subject to a maximum of Rs 175 p.m.
 Sub Staff incl. PTS  Actual Cost of subscription of 1 newspaper subject to a maximum of Rs 125 p.m.

The reimbursement shall be on a declaration basis as per annexure and in the declaration, the staff member shall provide authorization for deduction of Rs.5/- p.m towards sale of old newspapers. The revision will come into effect from the month of October 2017.

PRNL 56 DT 01.02.01

REIMBURSEMENT OF INCIDENTAL / OUT OF POCKET EXPENSES TO BRANCH MANAGERS

On declaration basis

 

Branch Classification

Reimbursement per month

Rural

Rs.250/-

Semi-Urban

Rs.300/-

Urban

Rs.350/-

Metropolitan

Rs.400/-

Expenses are to be debited to the head, ‘Residual Expenditure’.

Incentives to Lady Officers who accept posting as Branch Managers.

1.  Monthly Dress Maintenance Allowance of Rs.500/-

2.  Monthly Grooming Allowance of Rs.500/-

3.  Subsidy for transport by way of 50% concession in interest on their vehicle loan (with Indian Bank) during their tenure as Branch Manager.

4.  Residential leased accommodation at their place of choice (either at place of posting or some other place) within eligibility applicable to their place of posting,

5.  Joining time extension upto one year (increased from the present period of 3 months after relief on transfer) and waiver of pre-condition of shifting of family for availing joining time.

Conveyance Allowance to the Blind and orthopaedically handicapped Employees, Deaf and Dumb employees (Award Staff)

5% of Basic pay subject to maximum of Rs.400/-p.m with effect from 01.03.2009

ISSUE OF "RETIRED EMPLOYEE CARD" TO RETIRED EMPLOYEES

All staff members who retire on superannuation alone are eligible.

In case of loss of the card by the retired employees, duplicate card will not be issued under any circumstances.

Format with Cir HRM 48 DT 04.07.2009

Welfare measures to Inspector of Branches-MODIFICATION

Duty leave can be sanctioned to Inspector of Branches performing outstation duty at the rate of two days for every thirty days of work subject to a maximum of eight days per annum.

Inspector of Branches can claim Cell Phone allowance of Rs.300/- per month on declaration basis.

The ceiling amount on the cost of brief case reimbursed to Inspector of Branches is enhanced from Rs.750/- to Rs. 2,000/- once in three years instead of existing two years.

Details of incentives available to Officers Posted from outside North Eastern Region (NER) to branches in NER

  • In terms of extant GoI/IBA Guidelines, our Bank has been extending certain benefits to
  • Officers posted from outside NER to Branches coming under NER, which are as under:
  • Retention of accommodation at earlier place of their posting or in any places indicated of their choice.
  • Provision of single furnished accommodation at the place of posting at NER with 50 % of their otherwise eligibility.
  • Payment of mid-academic transfer allowance for the entire period of their stay in NER if his/her children do not join at NER.
  • Ad-hoc and temporary monetary incentive @ 20% of basic pay with minimum Rs.3000/-p.m and maximum Rs.7500/- p.m
  • Yearly leave travel concession to the place where his/her family resides.
  • Preferential transfer to any place of his/her choice (out of 3 places indicated) on completion of tenure of two years of stay in NER.

As per the existing guidelines, the above incentives are applicable not only to those Officers who were transferred to North Eastern Region from other regions but also to the new recruiters belonging to other regions but are posted on their first appointment directly to North Eastern Region.

ENCOURAGEMENT TO EMPLOYEES TO ACQUIRE PROFESSIONAL ACUMEN / QUALIFICATION.

To acquire professional acumen / Qualification offered by IIBF Mumbai,

1.  Applicable Examination Fees.

2.  The cost of books/study material upto a maximum of Rs.2500/- or actual cost of the Books, whichever is less, on production of bills and

3.  An incentive amount of Rs.1000/-

Pensioner’s Card to employees retired under VRS

In case of loss of the card duplicate card will not be issued under any circumstances.

Format with Cir MD/ED 24 DT 16.03.2015

Additional welfare measures extended to Women Employees of our bank (Prnl.84/2004-05 dt.18.10.2004)

Reimbursement of actual expenses in respect of Crèche for infants / babies of women employees (upto a maximum of Rs.250/- per month) upto the age of 8 years of the child.

SUPPLY OF UNIFORMS TO SUB-STAFF (HRM 116 DT 02.01.18)

Terrikhadi

(Once in 2 Years - 3 sets)–Rs.1500/- including stitching charges of Rs.600/-

Woollen

(Once in 3 Years - 1 set)– Rs.2400/- including stitching charges of Rs.900/-In respect of Armed Guards, the colour of the Uniform is Khaki.

 For other details refer circular.

Presentation of Milestone Award to Staff Members

The revised guidelines on presentation of Milestone Award, w.e.f 01.02.2012 is as follows: “Staff members, on completion of 25 years of service or at the time of superannuation whichever is earlier, subject to a minimum service of at least 10 years and fulfilling other terms and conditions, shall be presented with Milestone Award”

Concession and Benefits offered by Apollo Pharmacy to Indian Bank Employees

Apollo Pharmacy, a part of Apollo Hospitals is offering the following benefits exclusively for Indian Bank employees who purchase medicines from them:

  • 10% discount on medicines purchased.
  • 5% discount on FMCG products like Boost, Horlicks, Baby Soaps, etc.
  • 15% discount on Apollo Pharmacy private label products ranging from skin care to cosmetics (over 150+ products)

Our employees have to produce the ID Card issued by the Bank while availing the facility.

Purchase of raincoats by branches / offices.

The maximum limit for purchase of Raincoat by Branches/ Offices for use by eligible sub-staff who perform outdoor duties. has been enhanced from Rs.200/- to Rs.800/- once in three years with immediate effect.

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