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Charter of Demands


(Registered under the Trade Unions’ Act, 1926 Registration No. By-II-8861 dated 27th March, 1992)

U /74     
October 30, 2012

Dear Friends,


The Charter of Demands finalised and adopted in the Central Executive Committee meeting held at Mumbai from 11th to 14th August, 2012 has been submitted to the Governor on 29th October, 2012 under cover of our letter No. B/195 dated 27th October, 2012. A copy of the Charter of Demands is appended. The Charter of Demands has been framed taking cognisance of many factors and the most pertinent are as below:


The revision of pay-scales, so far, has been on traditional lines, keeping the factors affecting internal and external relativity in mind. A breakthrough has to be made so as, to relate our pay-scales with leading central banks of the world.

Secondly, the prevailing situation in the Bank is comprehensive and widespread stagnation at all levels. This situation has thrown asunder the notion of a reasonable career plan in the Bank and has, therefore, had the effect of de-motivating the officers. Seniors, at the fag-end of their career, legitimately expect a final promotion before retirement, as they have suffered on account of acute stagnation for long. The Revised Promotion Policy introduced, recently, suffers from severe infirmities and the most significant is that the door of further promotion for the senior base level officers has been closed. 

Thirdly, there is a large segment in the Bank that has served the institution sincerely and selflessly for more than a quarter of a century and now on the verge of retirement, having served the Bank without expecting anything out-of-way.

Fourthly, the future role of the Bank is a matter of serious concern, with concerted efforts being made to undermine the role of the Bank. This assumes a grave dimension, as the Bank has solidly stood to defend its autonomy and its mandated role, which is the sole factor, the Republic could weather the storm of the global financial crises.

Fifthly, by virtue of the Bank’s credentials in the eyes of the billion people of the Republic, that expects the Bank to rise to each challenge and occasion facing the country. Naturally, the Bank cannot withdraw from its traditional and developmental roles, by hiving-off or closure of activities. With falling confidence in other institutions of the Republic, the Reserve Bank of India is one of the very few institutions; the people have faith and trust. Let us not betray this trust, whatever may be the opinion of certain higher-ups. The aspirations and expectations of more than a billion should dictate the mission and vision of the Bank and not extraneous factors and elements.

It is against these backgrounds we are placing our Charter of Demands and naturally, we expect all the issues to be emphatically addressed in the immediate future. These issues can neither be ignored nor trifled with for in their resolution lies the dynamic growth and realisation of the potentials of the Bank, the staff and the Republic.

Aspirations & Expectations

1. Widespread stagnation should be immediately addressed by grant of atleast two promotions on the lines of Assured Career Progression, as in the Central Government and also, by adding, one more Special Pay and having five Stagnation Increments at an interval of two years. Finally, during the last year of service a promotion should be granted on supernumerary basis.

2. Those who have been sincere and shown long years of commitment to the Bank should be financially rewarded.

3. The Revised Promotion Policy be reviewed by extending the Time Bound Promotion to all grades of officers on completion of five years in a grade.

4. The Bank should reassert itself and continue to discharge its traditional functions; carry out its regulatory functions and undertake further developmental functions. This will ensure a vibrant RBI that discharges its roles and carries out its obligations to meet the peoples’ expectations.

The endeavour of the Bank should be to provide gainful employment and purposeful career to all officers, so as to tap the full potential, ensure development of the personality and enhance stature of the officer, while at the same time to effectively participate and meaningfully contribute in the development of the Republic and cater to the needs of the billion citizens.

With Warm Greetings,
Yours fraternally,

General Secretary

(Registered under the Trade Unions Act, 1926 Registration No. By-II-8861 dated 27th March, 1992)

B / 195
October 27, 2012

The Governor,
Reserve Bank of India,
Mumbai -400001.

Respected Sir,

Charter of Demands

The present wage settlement for the officers would fall due for revision from November 1, 2012. The ‘Charter of Demands’ covering revision of pay and allowances, improvements in perquisites, facilities and service conditions as also, our Association’s suggestions in bringing about improvements in the Central Banking functions and ‘Customer Service’, adopted by our Central Executive Committee is enclosed for your kind consideration.

We would, however, like to bring to your kind notice certain inherent structural deficiencies in the present wage structure and our suggestions to set right the same.

a) Owing to the vertical and horizontal linkages of the pay-scales, officers particularly at base level get perpetually stagnated.

b) The promotion policy formulated deprives the base level officers, who are in the fag-end of their career, any chance of further promotion.

c) Over the years the real wages/pension suffered substantial erosion on account of price spiral, and pension, in particular. The issues relating to pension have been well documented in the last two Central Pay Commission Reports and have since been rightly accepted by the Government.

d) With the present emoluments it is not possible for officers to have a reasonable take home salary after the deductions towards loans availed for acquisition of house, education, vehicle, computer, etc., which are necessities in the present context.

e) The escalating and unimaginable cost of housing has rendered it almost impossible for a salaried person, to own a house today, in his place of duty.

We have framed our Charter (Part I) keeping in view the foregoing aspects and are confident that the new salary structure based on our suggestions would not only take care of the befitting status for the RBI officers and optimum monetary gain on promotion, but also ensure a respectable take home salary for maintaining reasonably good living standards. Other suggestions would help our officers to realise their dream, of owning a house in their respective places of duty.

Sir, your bold pronouncements on the role of the Reserve Bank of India in financial and economic spaces of the Republic and the appreciation for the contribution of the officers’ community have been widely welcomed and have boosted the morale of officers. We are, therefore, confident that our demands in the Charter would be translated into reality, by your sympathetic consideration.

Sir, the need for collapsing of the grades, in respect of certain perquisites and facilities, is the need of the hour and will be widely welcomed and we are confident that our demands in the Charter (Part II), with respect to perquisites and facilities, merits to be viewed in this background.

Sir, we fervently appeal to you to accept the concept of ‘Social Security’, as is prevalent in advanced societies and bring about improvement in pensionary benefits.

Being a representative body of good majority of officers in the Bank, our deep concern has always been to ensure that the sliding sense of belonging to this premier institution never sets in amongst officers that can have a bearing on the quality of customer service provided by the Bank. After detailed deliberations on the issue, we have arrived at certain causative factors for such a possible slide and have included suggestions in the Charter (Part III) to improve the position that has an impact on the healthy growth of employee-employer relationship in the Bank. Further, to improve customer services to billions of Indian citizens, we have also made proposals to have sufficient number of offices for effective coverage of geographical area.

It is observed that there is widespread stagnation at all levels, with little or no scope of promotion for base level officers and there is also the spectre of large scale retirements in the coming years and these have to be addressed effectively. In this connection, in the Charter (Annexure) we have made suggestions to evolve more meaningful measures.

We once again request you, as the head of our RBI family to kindly consider our Charter of Demands and seek an early discussion, in the matter, with the Bank.

Yours respectfully,

(C. M. Paulsil)
General Secretary

Encls: Charter of Demands

Pay and Allowances

1. PAY

The existing pay scales to be restructured with merger of Dearness Allowance (DA) at index point 4708 of the All India Consumer Price Index for Industrial Workers (converted into 1960 series).

The distortions in the pay scales on account of inadequate merger percentages in the earlier wage revisions be removed and the notional benefit of Additional Special Pay (ASP) equivalent to that granted to workmen staff by way of Supplemental Agreement with effect from July 1, 1996 with appropriate upward adjustment at the new merger point, be extended to officers.

The pay scales arrived at, on the above basis, should be raised by atleast 50% so as to compare equitably with external and internal factors and rise in the Net National Products since 2001-2002.

The pay scales should ensure A+ position in relation to the highest paying bank. In view of the global financial market integration, the pay structure should also be comparable with that of other leading Central Banks.

The differential between all the scales from Grade ‘A’ to Grade ‘F’ should be reasonable and in terms of full increments.


The existing six scales of pay for officers to be integrated into two scales, one for Grade ‘A’ to ‘C’ and the other for Grade ‘D’ to ‘F’ and the span for the integrated scales be mutually arrived at. The integrated pay scales should be structured in such a way so as to read as a single master running scale, to avoid distortions in the scales.


The increments at each stage may be restructured with merger of DA with full neutralisation duly rectifying the earlier erosions. The quantum of last increment in each scale should be higher than the previous increment in the same scale. The end point of each scale should be higher by a fixed number of increments than the previous scale.


Five Stagnation Increments to officers in grades ‘A’ to ‘C’ be granted at an interval of every two years on reaching the maximum of the scales, at the rate of the last increment drawn in the grade.

Fitment should be stage to stage with one notional increment. 6. SPECIAL PAY (SP)

An additional post-scale Special Pay (total two Special Pays) should be granted on reaching maximum, at the interval of one year.The SP once granted should be continued to be drawn irrespective of fixation of pay in the next higher grade either on account of APP (Assured Personal Promotion) / PP (Personal Promotion) / Time Bound Promotion or regular promotion with a view to rectifying the anomalies on this account.

Grade Allowance should be enhanced keeping in view inter se internal relativity to rectify the distortion already existing in the grades. Thereafter, the Grade Allowance should be enhanced keeping in view inter se internal relativity. The enhanced Grade Allowance should be at the rate of 25% of Pay at the end point of each scale of the grade, counting for DA and superannuation benefits. All existing conditions for eligibility should be removed and Grade Allowance should be given to all categories.

Special Allowance should be enhanced keeping in view inter se internal relativity to rectify the distortion already existing for grades. Thereafter, the Special Allowance should be enhanced keeping in view inter se internal relativity. Special Allowance should be at the rate of 15% of Pay at the end-point of each scale of the grade, counting for DA and superannuation benefits.

Dearness Allowance should be paid for every 4-point rise in the Consumer Price Index for Industrial Workers, on conversion to the base year 1960, with 125 percent neutralisation.


i) House Allowance be paid at the normal rate of 30% of pay plus Grade Allowance, without any ceiling to all officers, including those occupying the quarters.

ii) The enhanced rate of House Allowance should be increased to 200% of the normal rate of House Allowance, due to escalating cost of housing and increasing cost of maintenance.

iii) Those officers not staying in Bank’s quarters should be paid at the enhanced rate of House Allowance.

iv) Conditions to be waived for enhanced rate of House Allowance.

v) Those officers staying in Bank’s quarters, only licence fee should be recovered from them.

20% of pay without any ceiling be paid as Local Allowance.

15% of pay without ceiling be paid as Family Allowance.

i) Education Allowance be paid at the rate of 10% of pay.

ii) Enhanced Educational Allowance be paid to officers at transferred centre in respect of children remaining at his previous centre, at the rate of 20% of pay.

Fixed Personal Allowance for technology up-gradation and Personal Allowance on account of fitment, to be enhanced in proportion to the percentage increase in pay scales. The amounts in full to be counted for DA and superannuation benefits.

Special Compensatory Allowance should be enhanced and should qualify for DA and superannuation benefits.



i) One additional increment for Part-1 and two additional increments for Part-2 be granted.

ii) Post-scale CAIIB Allowance to be equivalent to one / three increments, as the case may be, the quantum to be equivalent to the last increment in the scale and be treated as pay for superannuation benefits.

iii) CAIIB Allowance should be granted in full on reaching maximum of pay scale.

iv) CAIIB Allowance / increment on account of CAIIB, once drawn should be carried over on promotion on non-adjustable basis, so as to avoid anomalies.

(b) Hindi Examinations

i) Increments for passing Hindi Examinations be granted to all categories of officers.

ii) Private Secretaries passing Hindi Stenography examination be made eligible for an increment.

(c) Other Professional Qualifications
Double Graduates / Post Graduates/ MBAs/ CAs/ CSs/ CFAs/ ICWAs / Degree in IT area etc. be granted two additional increments. Officers having Ph.D. qualification, in any stream, should be granted two increments and consequential rise in the post-scale Special Pay.

Assured Personal Promotion should not be discontinued, and be granted on completion of 3 years in a grade and conditions of PAR and leave should not be made applicable for the purposes of grant of APP. Those promoted on APP should be eligible for all the allowances of the promoted grade. On completion of 5 years the officers should be treated as promoted to that grade with all facilities and designation. APP should also be extended to newly promoted Officers in Grade ‘A’ and Officers in Grade ‘C’ and ‘E’.

Widespread stagnation should be immediately addressed by grant of atleast two promotions in the officer’s grade, one in every 5 years as Time Bound Promotion. Finally, during the last year of service a promotion should be granted on supernumerary basis.

Central Banking Allowance should be introduced keeping in view the global financial market integration, this allowance should be so structured that it would make the pay structure in Reserve Bank of India comparable with that of other leading Central Banks. At the introductory stage, it should be at the rate of 25% of Pay, counting for DA and superannuation benefits.

In the context of the suggestion for integration of pay scales, the concept of functional pay be introduced. Functional Allowance may also be granted to P&S0s, Architects, Engineers, Technical Staff on project site and Station Duty Officers, who are required to perform duties during odd hours.


Post Allowance be introduced with the allowance being 25% of the pay for all officers, counting for DA and superannuation benefits, on account of added responsibilities.

Long Term Service Increments be introduced and given on completion of 25 years of service in the Bank, for the long term service and commitment shown to the Bank for the last 25 years or more. Long Term Service Increments be paid at the rate of one increment after the completion of 25 years of service in the Bank and the quantum be equivalent to the last increment in the scale and it should be a post scale increment. Thereafter, an increment be granted every five years. Long Term Service Increments should count for DA and superannuation benefits.

Special Pay and CAIIB Allowance should continue to run concurrently with Stagnation Increments.

Officers working in risk prone areas like Cash Department, Issue Department, P&SO and Banking Department, including NCC be paid Risk Allowance at the rate of 10% of pay and the incentive for working in CVPS may be discontinued.

10% of pay be paid as Hill and Fuel Allowance, to those in Gangtok, Jammu, Srinagar, Shillong and Shimla.

Faculty Allowance should be increased to 15% of pay without ceiling.

Shift Allowance be at the rate of 10% of pay.

Two month’s gross salary per annum be paid as Ex-Gratia.

29. TAX
The compensation package should be net of taxes. The Bank should pay all the taxes that the staff is assessed for.


1) Provident Fund
i) Contribution to Provident Fund be at the rate of 12% of pay plus dearness allowance.

ii) Interest on P.F. be enhanced to 12% p.a. and should be paid at quarterly rests.

iii) Retiring Officers to be allowed to retain their PF balances with the Bank up to 5 years, with interest at the rate of 3% above the prevailing PF interest rate. An enabling provision to this effect be made in the P.F. Regulations.

iv) The nominee of the All India Reserve Bank Officers’ Association should also be included as Administrator of the Reserve Bank Provident Fund.

2) Gratuity
i) Gratuity should be paid at the rate of one month’s gross salary for each year of service or part thereof, reckoned from the date of appointment to date of retirement / death, without any ceiling.

ii) Income Tax liability on Gratuity should be fully borne by the Bank.

3) Compassionate Gratuity
Compassionate Gratuity be enhanced to Rs. 5 lakh.

4) Pension, Family Pension & Ex-Gratia to Pre ’86 Retirees
i) The existing pension should be revised by merging Dearness Relief with Basic Pension.

ii) Basic Pension should be on last drawn pay basis or based on last 10 months’ average, whichever is beneficial to the staff.

iii) Basic Pension be raised to 67% of last drawn pay, with facility to commute 40% of basic pension. For every year of service beyond 30 years, 1% of pay be added as basic pension.

iv) Eligibility for full pension should be on completion of 20 years of service.

v) The dependents of officers dying in harness should be allowed the benefit of commutation on the lines of normal retirees, in addition to the compassionate package. vi) Full pension be restored 10 years after commutation.

vii) Family Pension be paid at the rate of 30% of the last drawn pay of the deceased officer, without ceiling of Basic Family Pension and without tapering of Dearness Relief. Family Pension should be revised as and when the pay of officers is revised.

viii) Family Pension at twice the rate be paid upto 67 years of age of the deceased officer or seven years after the date of death of the officer whichever is earlier keeping in view the revision in the superannuation age made from 58 years to 60 years. This has already been done by the Central Government.

ix) Ex-Gratia payable to pre ’86 retirees or their spouses should be raised to Rs. 10,000 per month (basic) for retirees / Rs. 5,000 per month (basic) for spouses of deceased pre ’86 retirees, as the present Ex-Gratia basic is miserably low at Rs. 300 / Rs. 150 per month, respectively, and all the beneficiaries are above the age of 80 years, with very few of them surviving; the age of 80 years considered by the VI Central Pay Commission as qualifying for enhancement of pension with advancement of age.

x) Invalid Pension should be suitably enhanced.

xi) The loss of 1.67% in Contributory Provident Fund account to pension optees be credited to a separate account and refunded or suitably compensated at the time of retirement.

xii) All irritant / retrograde clauses for pension eligibility be removed.

xiii) Past service in Government be reckoned as qualifying service for pension.

xiv) Pensionary benefits be extended to pre’86 retirees. Besides, those who resigned from the Bank’s service on completion of 20 years of service between 1-1 -1 986 and 31-10-1990, should also be extended pensionary benefits.

xv) Definition of family for pension / compassionate gratuity should include dependent parents! nominees of officers.

xvi) With every revision of pay, pension of all retirees be updated correspondingly, as available to the Central Government employees, in terms of Central Pay Commission.

xvii) Dearness Relief on basic pension be paid with 125% neutralisation.

xviii) Option for pension should be re-opened during every revision of pay-scales or alternatively, all employees and retirees should be automatically covered under the Reserve Bank Pension Scheme, 1990.

xix) The commitments given in the Bank’s original circulars (c.f. circular PP D. No.G.77/390/R1I-CP-171(B)-89/90 dated 18th January, 1990) and circular letters issued (c.f. PPD.No.G.66/2180/RII.CP.171D-91/92 dated 13th March, 1992), while introducing the pension scheme should be honoured.

xx) The pension rules and regulations be modified for all the above with enabling provisions.

xxi) The New Pension Scheme introduced with effect from January 1, 2012 should also have identical features and benefits as the Reserve Bank Pension Scheme, 1990.

5) Encashment of Leave
i) Encashment of unavailed Ordinary Leave may be enhanced to 12 months and tax liability be fully borne by the Bank.

ii) Appropriate compensation be given in lieu of unavailed Sick Leave and Casual Leave / Special Sick Leave at the time of retirement, by conversion of Sick Leave, etc into Ordinary Leave for purposes of encashment of OL.

6) Additional Superannuation Benefits
In the Reserve Bank only two superannuation benefits viz., Gratuity and Pension are available to retirees from the Bank. We, therefore, demand that superannuation benefits in RBI be such that it maintains the A+ position of the Central Bank of the country.

Further, the pensionary benefits, as regards enhancement of pension with advancement of age, extended to Central Government Employees with effect from January 2006, be implemented in Reserve Bank of India also.,

7) Compassionate Package granted to the family of the employees dying in harness.
i) The spouse of the deceased employee should be given option of employment irrespective of age / compassionate financial package.

ii) The Bank should revise the compassionate financial package after taking into account, the limit of amount of loans available to the officers under the Bank’s various loan schemes, such as for housing, education, car, computer, etc.

iii) Further, spouses of the deceased employee, who had not opted for pension, should be allowed to opt for family pension.

iv) In the event, the spouse has predeceased the deceased employee, the option of employment to the son / daughter should be given.

8) Third Retirement Benefit
The Bank should introduce a third retirement benefit, in the form of Basic Life Insurance and the amount of monthly premium being equal to 10% of pay, counting for superannuation. The monthly premium be paid in full by the Bank; with a lump sum amount paid on retirement or dying in harness; this is in addition to the Group Savings Linked Insurance.

9) Effective Date
The superannuation benefits effective from the current charter period be given retrospectively, on the lines of the Central Pay Commission Report.

The issues of superannuation benefits should be settled simultaneously with the revision of pay-scales.

Superannuation benefits in total be more than that of the largest Bank in public sector/financial sector.

Revision of pay scales for part-time officers be made along with the regular officers.

The revised scales of pay and all allowances and perquisites be effective from November 1, 2012.

A memorandum of understanding be signed with the Association. The agreement be in force for a period of three years from November 1, 2012. During the operation of the agreement, if any improvements in pay structure, etc. for officers in the industry or employees / section of officers in RBI are brought about, the benefits be extended to all RBI officers also with effect from November 1, 2012.


Improvement in Perquisites and Service Conditions


a) Air travel to be allowed to all the officers every year irrespective of basic pay with the option of declaration. Income tax to be borne by the Bank.

b) Lodging and boarding charges to be reimbursed as in case of tours.

c) Suitable enhancement of incidental charges be made.

d) The availment of set in spells be allowed within overall eligibility.

e) Last set of LFC may be availed within a period of six months after date of retirement.

f) Retired officers and their spouses be extended the Leave Fare facility.

g) RFC to be extended to all officers irrespective of the destination.

h) Incidental expenses equivalent to 3 months pay be granted to retiring officers with RFC.

i) LFC in respect of parents / dependents may be granted from their place of stay.

j) The distance for LEG should be enhanced to 10,000 Kms.

k) Bank’s Medical Officers should be granted LFC in full and not on proportionate basis.

I) Encashment of OL should not be linked to LFC.


a) Reimbursement of petrol charges may be adequately enhanced for all grades, irrespective of place of duty. Municipal Road Taxes paid be reimbursed to all on actual basis.

b) The reimbursement towards cost of maintenance of car may be introduced for officers in Gr.’A’ and ‘B’ @ 3,000 per month and for officers in Gr. ‘C’ enhanced to Rs. 3,000 per month. The allowance for Senior Officers be enhanced to Rs.  4,000 per month.

c) Non-vehicle owners be reimbursed Rs. 6,000 per month for officers in grades ‘A’ to ‘C’ and Rs. 8,000 per month for officers in grades ‘D’ & ‘E’ towards conveyance expenses.

d) All existing restrictions/conditions in respect of 8 kms. distance may be removed for reimbursement of conveyance expenses on their local official visits.

e) Parking Charges at per hour rate on monthly basis be granted.

f) Officers deputed for duties outside office for more than three hours be granted out of pocket expenses, toll charges on actual basis, irrespective of the distance.

g) Officers attending to station duty / protocol duty on ad-hoc basis or such other outdoor duties be reimbursed conveyance on actual basis irrespective of distance for each visit. Tea, lunch, dinner charges, including out-of-pocket expenses to be reimbursed.

h) Drivers’ Allowance be introduced for officers in Grades ‘A’ and ‘B’ and extended to all officers in Grade ‘C’.

a) Housing Loan

1. Housing Loan be enhanced upto 1 crore and @ 120 months pay with a minimum of Rs. 40 lakh.

2. Rate of interest on Housing Loan should be half of the prevailing Bank Rate. Interest rate on outstanding balance to be adjusted with every downward revision in the Bank Rate.

3. In case of officer dying in harness, outstanding balance of Housing Loan be waived in full.

4. The amount paid as insurance cover for Housing Loan be reimbursed in full on quarterly basis.

5. Recovery of Housing Loan be spread up to the age of 70 years.

6. PF rules be relaxed for withdrawal for 2nd Housing Loan.

7. The additional loan for essential items and repairs of own house should be granted in the case of 2nd Housing Loan, also.

8. Those who had availed of Housing Loan at higher rate of interest and the Income-tax benefit on accrued interest that was not available to them, then, should be allowed waiver of excess interest.

9. The concept of Self-leasing be introduced for the purposes of recovery of Housing Loan. The amount should be, by taking into account, the amount the Bank is ready to pay as lease rent for flats for officers, within reasonable distance of the Bank and in a good locality. By applying this benchmark, the proportionate limits for each level of officers can be fixed.This can be the basis for recovery of Housing Loan for the first five years. This may also be extended for repayment of Housing Loan of those officers on the verge of retirement in order to repay the outstanding Housing Loan / half the amount of the cost of the house or Housing Loan, whichever is less.

10. Reimbursement of housing society/apartment maintenance charges @ 2,500 per month be granted.

b) Consumer Loan
Amount of Consumer Loan be raised to 2 Lakh. Interest on the loan be reduced.

(c) Vehicle Advance
i) Car Loan be raised to Rs. 10 lakh / Rs. 12 lakh to Officers / Senior Officers, respectively. The loan should be on 100% cost basis including road tax and accessories.

ii) Recovery be made on depreciation cost basis, in 5 years.

iii) Interest on Car Loan be reduced to half of the prevailing Bank Rate.

iv) Additional Car Loan to the extent of difference between the outstanding balance of the earlier loan with that of the revised loan limit may be granted to those desirous of changing their car, without insisting on sale of old vehicle.

v) Two-wheeler loan be raised to Rs. 2 lakh. The loan also be on 100% cost basis including road tax, and accessories. Recovery be made on depreciation cdst basis, in 5 years. Interest on loan for two-wheeler may be charged at half of the prevailing Bank rate.

d) Education Loan
Education Loan be granted up to Rs. 10 lakh ( Rs. 15 lakh for higher studies abroad) without charging any interest on Education Loan up to Rs. 5 lakh and charging interest at half of the Bank rate on the loan over and above Rs. 5 lakh. The unavailed portion of Housing Loan may be allowed to be drawn for educational purposes.

e) Computer Advance
The advance under the present scheme attracts high rate of interest and needs to be revised to encourage officers to buy computers. In view of the inherent benefits to the Bank, it should be free of interest. The recovery of Computer Loan be on depreciation cost basis as the PCs / Laptops get outdated within a few years. Second Computer Loan be granted when depreciated book value of existing PC / Laptop becomes nil on notional basis or at least once in five years.

f) Festival Advance
The ceiling to be raised to two month’s gross salary, rounded to the nearest ten thousand.


i) Quantum under declaration basis be enhanced to Rs. 12,000 p.a.

ii) Reimbursement in full be made for treatment taken under Ayurvedic, Homeopathy, Siddha, Unani, Acupuncture, Acupressure and other alternate healing methods etc. without any conditionality. Curative treatment such as, Panchkarma taken in recognized clinics should be allowed. Ayurvedic, Homeopathy treatment charges should be increased by revision of schedule rates.

iii) Reimbursement in full for actual outdoor / indoor treatment including consultant’s fees, service charges, surcharge and taxes, etc. be given to officers, including dependent parents.

iv) The treatment cost of fatal ailments e.g., cancer, heart ailment, renal failure, TB, HIV+ve, etc. should be reimbursed in full, irrespective of any ceiling. The OPD treatment for the said ailments should also be paid in full.

v) The eligible income ceiling of 5,000/- for being dependent parents may be revised and instead it be extended, to cover parents / parents-in-law, dependant children, not coming within the purview of income-tax.

vi) The empanelled hospitals should be apprised with eligibility of RBI staff, so as to minimize the recovery of direct settlement bills.

vii) As per the existing rules, parents can avail OPD treatment in Government/Municipal hospitals only. The OPD treatment including pathology/ radiology tests should be extended to parents in private clinics.

viii) Bills for treatment of skin diseases, STD treatment, gynecological and psychiatric treatment be reimbursed in full, without any conditionality.

ix) Reimbursement of expenditure for chronic ailments should be allowed on attending physician’s advice, without any conditionalities.

x) Maternity expenses be reimbursed in full.

xi) The charges towards Medical tests not included in the schedule but recommended by specialists be reimbursed in full.

xii) Cost of equipments like collar, crutches, wheelchair, prosthetics, other aids like hearing aids, etc. should be reimbursed periodically in full.

xiii) Cost of dental treatment should be reimbursed in full. It should also be extended to dependant parents.

xiv) The rates of dental treatment in case of Root Canal/ Cap/ Bridge/ Implants should be suitably enhanced and conditionalities be removed.

xv) Certain latest treatment such as, Fluoride treatment, etc., which is curative in nature should be included in the Dental Schedule.

xvi) Cost of all specialist treatments including diagnostic and therapeutic scopies, ophthalmologic laser treatments, hormonal treatment, stem cell transplant, cardiac, neurological, oncological investigations and treatments, cost of nuclear medicines, MRI/CAT etc. scans, sonographical tests etc. be reimbursed in full. Opthalmic power correction test-XMR be considered for reimbursement in full.

xvii) Mentally retarded brothers / sisters may be considered as dependents.

xviii) Schedule of charges be revised at the end of every financial year and there should be a common schedule for the entire country.

xix) Taking into consideration increase in schedule rates, the present limit of per hospitalization should be increased suitably.

xx) The visit charges in certain cases are on the higher side therefore, in all cases two visits per day be permitted with the approval of BM0s. ICU / ICCU special visits by various specialized doctors should be reimbursed in addition to routine visits.

xxi) Reservation of beds in Govt./Trust / Municipal Hospitals be made at all centres, to ensure admission in case of emergency.

xxii) The treatment prescribed by specialists should be honoured by BMOs / SMOs as per the rules laid down by the Medical Council of India. Credit Slips may be given, in case of non-availability of medicines in the dispensaries. The list of Non-admissible Medicines be revoked.

xxiii) Investigations with respect to eyesight / refraction tests, ultra-sonography, cancer detection tests, etc, be included in the Annual Health check-up scheme itself. Annual Health check-up scheme may be extended to all and even to wards and dependent parents.

xxiv) Distinction of medicines as curative and preventive be dispensed with for reimbursement purposes, when prescribed by specialists.

xxv) Cost of Pen Cartridge for insulin administration be reimbursed in full.

xxvi) Reimbursement of Cost of Spectacles should be enhanced suitably, wards and dependent parents be included.

xxvii) Considering the present treatment given to new-born babies, all vaccines which are prescribed by the hospital should be reimbursed in full.

xxviii) Bank’s Medical Officers should be eligible for reimbursement for Dental Treatment.

xix) Medical Bills of BMOs should be settled in full and not on proportionate working hour basis.

xxx) Bank’s Medical Officers should be eligible for Direct Settlement for Hospital Treatment.

i) The monetary ceiling per hospitalisation be revised and the restrictive conditions on Stoppage/ Room Rent charges should be removed.

ii) Part-Time Bank’s Medical Officers should also be covered under MAF by extending the Scheme to them.

iii) Reimbursement of medical bills should be upto 100%.

iv) OPD treatment be extended to all retired members.

v) Dental treatment be extended to all retired members.

i) Joining time be enhanced to 15 days. Officers be allowed to avail the joining time in 3 spells.

ii) The officer / family be given additional air-fare once a year to his place of previous posting / family to his present place of posting, in case, his family has not been shifted.

iii) Miscellaneous expenses towards incidentals be enhanced to 3 months’ basic pay with DA to all officers moving with or without family. Donations required to be paid by officers for school / college admissions of their wards in new centre may also be reimbursed.

iv) Lump-sum payment for packing /crating / local transportation be enhanced to 25,000/- on declaration basis.

v) On transfer Bank may arrange transportation of household goods, if so desired by the officer.

vi) The minimum Halting Allowance on transfer be raised to 7 days.

vii) Hotel charges and Halting Allowance be granted for 7 days after the allotment of eligible accommodation suitable for occupation.

viii) Retention of flat at previous centre be allowed on educational / medical grounds till the allotment of eligible accommodation without any conditionality for all centres.

ix) Jammu should be, in principle, treated as ‘Hardship Centre’ at par with Guwahati. Officers on transfer to any centre from Jammu be allowed air travel via New Delhi in the absence of direct flight, in view of risk involved in train travel.

x) Reimbursement of actual expenditure incurred on transportation of vehicle be made in full.

xi) 10,000/- be paid towards winter clothing at centres having extreme climate.

xii) Officers on request transfer be extended all facilities that are available in case of normal transfers. Officers on repatriation transfer to parent centre, at the age of 56 years or above, be at Bank’s cost.

xiii) House Allowance at the enhanced rate be paid to transferred officer.

xiv) Arrangement with reputed schools may be made for admissions of wards of transferee officers.

xv) Single Room flats should be provided in large numbers in all centres, so as to facilitate officers on transfer.

i) Accumulation of Ordinary Leave be allowed up to 12 months, with encashment facility at the time of retirement.

ii) Notice period for availing Ordinary Leave be brought down to one month.

iii) Leave on medical grounds up to 4 days be granted without medical certificate. Necessary amendment be made in the Staff Regulations.

iv) Sick Leave be increased to 12 months on full average pay, in entire service period.

v) Concept of granting of suitable incentive, in lieu of unavailed Sick Leave at the time of retirement, be considered. Conversion of unavailed Sick leave to Ordinary Leave for encashment of Ordinary Leave may also be granted.

vi) Maternity Leave may be raised to 12 months for each delivery. Unavailed Maternity Leave may be allowed in case of Hysterectomy Operation.

viii) Sanction of Accident Leave be lenient and sympathetic.

ix) One additional day of Special Leave be granted for travel on official duty when distance of travel is more than 100 kms.

x) Bereavement Leave of 15 days per annum be introduced, in the case of death of close relative.

Reimbursement of Rs. 1,500 and Rs. 2,000 per month towards entertainment allowance for officers and senior officers, respectively, on declaration basis be given.

i) Outfit Allowances be granted to all officers on the lines of Public Sector Undertakings viz. Air India, Indian Oil, etc. Technical Officers posted for site duties may be provided special outfit allowance additionally.

ii) Outfit allowance of Rs. 10,000/- be granted to all officers deputed abroad for training /tour, etc.

iii) Wardrobe Allowance be granted at the rate of Rs. 5,000 per month.


i) Rs. 2 lakh / Rs. 3 lakh be granted to officers / senior officers, respectively, towards FRO Advance, once in 3 years and from the date of promotion. For maintenance of furniture a sum @ 0.50% of FRO value per month be granted.

ii) Bank’s Medical Officers should be entitled to FRO Advance.

Annual Closing Allowance be raised to Rs.  5,000/-.


i) The Ad-hoc Incentive for all officers working in all offices in the North-East region, should be uniformly given at 20% without any ceiling.

ii) Special Insurance coverage for those working in North-East region, Jammu and Srinagar Offices be raised to Rs. 10 lakh.

i) Officers on tour be granted HA at full rate up to 180 days at Rs.  3,000 per day.

ii) Officers on training at Bank’s establishments be paid @ 50% of normal HA as incidentals.

Hotel Flent may be revised as under:

Grade Major Centers
Mumbai, New Delhi, Kolkata, Chennai Bangalore, Hyderabad, Pune
Other Centers
A to C Rs. 7,500/- Rs. 6,000/-
D to F Rs. 10,000/- Rs. 8,000/-

The facility of reimbursement of Hotel Charges even for a day’s tour be restored.

Mazdoor charges be raised to Rs.  200/- at each point and Rs.  1,000/- as lump sum amount.

a) Existing ceiling of 15 Kms. be removed.
b) Taxi fare from camp office to place of stay and back should be paid up to 30 km. on actual basis.

a) Tea/ Lunch / Dinner charges be enhanced suitably.

b) Actual taxi fare be reimbursed for sitting late two hours beyond office hours.

c) Amount equivalent to one day’s Halting Allowance at normal rate and to and fro taxi fare in full be reimbursed on Sundays / Holidays irrespective of duration.

d) Supervision for Examination Duty, the honorarium should be suitably enhanced.

Annual call limit for officers in Grades ‘A’ to ‘C’ to be raised to 2,000 calls per month. 

Mobile Phone be extended to all officers and replaced every 2 years.

Laptop should be given to each officer.

The Internet Broadband facility charges may be reimbursed separately.

Expenses of pull over and woolen socks may be revised keeping in view the rising prices. Further, this facility be extended to officer; working in other low temperature arm like CVPS machine section, DAD, NCC, etc.

a) Reimbursement of electricity charges up to 500 units, including fixed charges and taxes, per month be granted.

b) Reimbursement of consumer gas charges upto 150 units per month or one LPG cylinder per month be granted.

Cleaning Allowance, etc. be suitably enhanced to r 5,000 per month to cover upholstery, furniture and house cleaning.

Spouse of the retiring officers be allowed to join for the retirement training.

All officers should be offered atleast a single foreign training in his tenure.

i) Golden Jubilee Scholarship granted to meritorious children of officers should be enhanced substantially. All children of officers who secure first class in SSC and 50%, 60%, and 75% marks in Arts, Commerce and Science faculty, respectively, in HSC should be granted scholarship.

ii) Scholarships in the form of full reimbursement of tuition fees should be granted to officers’ wards who join professional courses.

The Dr. B. R. Ambedkar Scholarship should be enhanced and should be at par with the Golden Jubilee Scholarship.

As per DBOD guidelines, banks are free to give higher rate of interest above the normal rate of interest on deposits to their staff, present and retired, upto 1°/0. The same facility should be extended to RBI staff, present and retired, by issuing necessary directives to the designated banks.

Preference be given to RBI employees and officers or co-operative societies formed by them for purchase of Bank’s flats / land or any other property, that are being disposed off.

Book grant may be raised to 10,000/- for officers in Gr. ‘A’ to ‘C’ and 15,000/- for senior officers, on declaration basis. List of eligible books be widened in scope.

Reimbursement of cost of Briefcase / Bags be enhanced to Rs. 10,000/- for officers and Rs. 15,000/- to senior officers every two years.

Reimbursement of 1,000 per month be granted for purchase of newspapers and periodicals.

Life Membership of Health Club may be reimbursed in order to help them keep good health, and for de-stressing and reducing strain, as it is affecting their health. Bank may also consider reimbursing the cost for joining Stress and Better Living courses.

Training centers be set up / shifted at / to hill-stations like Ooty, Mahableshwar, Mussorie, Darjeeling, Shillong, Gangtok, Shimla, Munnar, etc.

Retirement Memento in the form of Gold Coin be enhanced and given taking into consideration the years of service @ 1 gm for each year of service in the Bank or 20 gms. (minimum) and also in respect of those dying in harness.

All perquisites like FRO, Brief-case, Cost of Spectacles, etc. may be given on a proportional basis in the year of retirement, if not otherwise eligible.


To render good customer service first of all the workforce should have sense of belonging to its organisation. The inherent dangers of sliding sense of belonging has been focused to the authorities concerned, time and again. With the new generation holding charge of sensitive desks in the Bank, drastic changes are being effected in the working. During the transition, enormous pressure is applied on the existing workforce of the Bank. New directives are issued, interpreted and stretched in a way that their execution, at times, leads to bitter feelings amongst the workforce. The whole atmosphere, therefore, has a telling effect on the human resources in the Bank. We therefore suggest the following:

i) Every employee must be treated with dignity and honour. ii) In the absence of substantial grounds, no employee should be served with show cause notice / charge-sheet or suspended / dismissed.

iii) Innocent officers should not be victimised under the plea of ‘negligence’ for carrying out their duties, as per the outdated systems and procedures.

iv) In view of recent unwarranted and unjustified use of Staff Regulation 26(1) to terminate the services of officers even in the absence of serious charges, the said regulation should be repealed.

v) Sincere and flawless services be appreciated by the Bank by suitably rewarding the employee on completion of 25 years of service in the Bank.

vi) Officers known for their biased approach should not be entrusted with the task of formulating / executing Administrative Policies. vii) The guidelines prescribed by Central Office for improving the level of motivation of officers working in operational departments need to be enforced rather than leaving to local authorities.

viii)Recognised organisations of employees in the Bank should be taken into confidence so as to enhance sense of belonging to the Bank, as also, to improve customer service / satisfaction.

ix) The senior base level officers should also be invited for interaction whenever, the Honible Governor visits Regional Offices, as senior base level officers have a lot to share about the Bank with the Hon’ble Governor by virtue of their long experience in the Bank.

x) An independent Grievances Redressal Mechanism covering promotion, posting, transfer, placements, discipline, PAR, should be put in place.

For effective customer service, the Bank should have full-fledged offices at Kochi, Lucknow, Panaji, Jammu, Srinagar and Pune, as also, at Capitals of all the newly formed states. Currency Transit Centres should be opened at each District.

The Bank should seriously consider augmenting the staff strength especially, at the base level were the day-to-day interactions with the common people take place and is the ultimate face of the Bank to the common people. For the Bank to carry out its day-to-day operations efficiently and to take up new tasks and challenges the Nation may entrust on the Reserve Bank of India and in the interests of the Nation, the Bank should not delay in recruitment at the base level. Manpower planning should be done rationally. Staff should be deployed in right earnest to take up the function of Micro Finance regulation and supervision and also for the functioning of the Risk Management Department. The recruitment should be on regular basis, in view of the fact that there is going to take place large scale retirements in the days to come. The concept of ‘Slim &Trim’ Reserve Bank of India is not only a chimera, as far the Reserve Bank of India is considered but, against the expectations of the people and the Republic.

Further, on account of frauds, misappropriations, etc. in Urban Co-operative Banks, Non-Banking Financial Companies as also in District Co-operative Banks and State Co-operative Banks, the Reserve Bank of India is seen in poor light by the public, parliament, press, and other mass media tarnishing the image of our Bank. We are, therefore, of the considered opinion that we have to shoulder bigger responsibilities. In this regard, our regulatory and inspection activities need to be expanded in view of new challenges thrown open to us. We are of the opinion that our Bank should not lag behind in giving service to the Republic and must ensure that innocent people are not cheated by unscrupulous elements.

The failure of the Clean Note Policy has been a big blot on the fair image of the Bank. The Bank should not take the drastic step of closing down of Exchange and Banking counters in its offices, as it will imply that the Bank has conceded to its inability to meet the exchange and banking requirements of the people and the non-viability of its Clean Note Policy. The Bank should, with added vigour, open more Exchange and Banking counters to cater to the needs of the people. The delegation of the Banks functions to commercial banks is no panacea. The commercial banks neither have the wherewithal nor the inclination to meet the goals of the Clean Note Policy, as it has a profit-making approach and not a nation-serving approach. It is only the Reserve Bank of India that can ensure the success of the Clean Note Policy. The need of the hour is not a perfunctory approach but an all-embracing national approach, as there are numerous dangers due to the presence of forces inimical to our Republic’s growth and success, in the currency arena of our country.


A. Promotion Policy 

i) The Promotion Policy should meet the twin objectives of ‘seniority-cum-merit’ i.e., of laying stress on both seniority and merit and by giving due weightage to seniority, the prime concern of stagnation can be addressed. It is for this reason, in the Central Government services weightage to seniority and having an Assured Career Progression and giving a minimum of two promotions during their entire service has been put in place. For the growth of an institution and to embrace new ideas, brilliant and talented youngsters should also be given encouragement by regular promotions so as to mould them for future higher responsibilities yet, the experience of the seniors in the nitty-gritty of the day to day functioning should also be considered. Hence, the Bank should review the Revised Promotion Policy, and balance the twin objectives of ‘seniority and merit’ for the sake of the institution and well-being of its officers.

ii) Direct recruitment at Grade ‘B’ level be discontinued and such recruitment may be limited to the base level of Grade ‘A’ in the ratio of 10% direct recruitment, 221/2% merit channel and 671/2% qualifying channel.

iii) Merit promotion to Grade ‘B’ may also be discontinued.

iv) Zone of consideration be 1:1.33 including repeaters.

v) Promotion should be on seniority-cum-suitability basis based on benchmark system.

vi) Seniority be given due weightage in promotion in all grades and should be 50% of any promotion exercise.

vii) The Performance Appraisal Review (PAR) be made objective and it may be considered for deciding only the suitability aspect of the promotion.

viii) Assured Personal Promotion should not be discontinued and should be granted on completion of 3 years in a grade and conditions of PAR and leave should not be made applicable for the purposes of grant of APP. On completion of 5 years he/she should be treated as promoted to that grade with all facilities and designation.

ix) Time Bound Promotion should also be granted on completion of 5 years for officers in Grade ‘A’ for promotion to Grade ‘B’.The Time Bound Promotion for officers in Grade ‘B’ for promotion to Grade ‘C’ should be on completion of 5 years, as against the present stipulated 7 years.

x) The norm of obtaining an average PAR of 172 for Time Bound Promotion be reduced to 140.

xi) APP should also be extended to newly promoted Officers in Grade ‘A’ and also to Officers in Grade ‘C’ and ‘E’. xii) Officers on APP be given respective designation. xiii) Widespread stagnation should be immediately addressed by grant of atleast two promotions in the officer’s grade, one in every 5 years. Finally, during the last year of service a promotion should be granted on supernumerary basis.

B. Transparency in Promotion Policy.
i) PAR should indicate only grades A+, A, B+, B and C.

ii) Moderation norms be laid down and be made transparent.

iii) Details of the results of the selection process for promotion i.e. marks obtained under various parameters be advised to the officers.

C. Promotional Avenues
i) The post of Treasurers in the Cash Departments be filled by officer in Grade ‘D’ at major centres / Grade ‘C’ at other centres exclusively from Cash Department cadre, wherever available.

ii) The post of Joint Custodians of vaults be upgraded to Assistant General Manager and Deputy Treasurer, officer in Grade ‘C’ at major centres/ Grade ‘B’ at other centres.

iii) CVPS sections be headed by Assistant General Manager along with Deputy Treasurer as Joint Custodian, as above and machines to be manned by officers in Grade ‘A’ or ‘B’.

iv) Adequate promotional avenues should be made available to officers in Grade ‘A’ promotee cadre by ensuring at least 50% of the vacancies in Grade ‘B’ onwards.

v) All major centres be under the charge of Executive Directors and other centres under Chief General Managers.

vi) Departmental Heads at major centres be Chief General Managers! General Managers and other centres General Managers / Deputy General Managers.

vii) The ratio of officers in base level and next two grades be 4:1.

viii) ZTCs may be headed by Deputy General Managers.

ix) Promotional avenues be created for Hindi Officers, Assistant Security Officers and Technical Officers.

x) Iwo lounge supervisor posts one each in Grade ‘A’ and ‘B’ – for each lounge be created.

xi) Architectural Division headed by General Manager be formed.

xii) In view of the multifold increase in work-load as also highly sensitive nature of transactions involved vis-à-vis frauds / scams in the Banking Department in Mumbai Office, PAD, DAD and PDO in Mumbai should be split into divisions for better work management. Each Department should accordingly be split into 3 divisions, each headed by an AGM and the overall charge of each Department be vested in DGMs. Consequently, the number of posts of Managers be increased proportionately. The position at other Metropolitan centers viz. New Delhi, Kolkata and Chennai should also be reviewed on these lines.

xiii) Time Bound Promotion be extended to all minor categories of Officers of all grades on completion of 5 years in a grade.
D. Other suggestions.

i) Annual Calendar of promotional processes be introduced and strictly adhered to.

ii) Post of leave/trainee reserves be created at the rate of 20% of sanctioned strength.

iii) Appointments of retired RBI officers / executives, in the Bank, including in RBI Services Board and as nominees on the board of banks or in any other form, be stopped forthwith.

iv) Officers should be given a pro forma promotion on supernumerary basis in next grade at least a year before retirement.

v) Officers promoted under APP Scheme to be treated on par with the regular promoted officers for allotment of residential accommodation.

vi) The policy for fixing the Combined Seniority be made available so that any officer having any doubts about his Combined Seniority can seek clarification for rectification.

E. Norms for fixation of inter se seniority.
The norms for fixation of seniority of officers, inter se, on promotion through different channels may be changed so as to place officers coming through the select list of promotee officers above officers from other channel, other things being the same.


by Bliss Drive Review