Circular No: 16 Date: 06.05.2010

We hereunder reproduce AIBOC Circular No.55, Dt.03.05.2010, and Circular 56 Dt.04.05.2010 regarding Dearness Allowance and Gratuity for the information of our members.

With greetings, Comradely Yours,

G.SEKAR General Secretary

AIBOC CIRCULAR NO.55 03-05-2010 TO ALL AFFILIATES/MEMBERS

DEARNESS ALLOWANCE

The Index Numbers for the quarter ended March 2010 are as under:

MONTH INDEX AS PER CONVERSION INDEX AS PER 2001 SERIES FACTOR 1960 SERIES

January2010 172 4.63 x 4.93 3926.05 February2010 170 4.63 x 4.93 3880.40 March 2010 170 4.63 x 4.93 3880.40

Total 11686.85

Average = 11686.85/3 3895.61

Difference in excess of 2288 points 1607.61 D.A.paid for the previous quarter on (i.e. 382x4) 1528 .00

Difference 79.61

Increase in number of Slabs = 79.61/4= 19.90 Accordingly, Dearness Allowance is payable to Officers on 401 (i.e. 382+19) slabs with effect from 01-05-2010 as against 382 slabs for the previous quarter.

The rates of Dearness Allowance at various stages of basic pay are furnished overleaf.

The rates worked out are as per the industry level scales upto Scale VII including SBI.

With greetings,

(G.D. NADAF) GENERAL SECRETARY

DA PAYABLE FROM I ST MAY 2010 TO 30THJULY, 2010 RATE OF D.A. 0.18% PER SLAB (401 X 0.18= 72.18%) (Existing Scales) BASIC CONVERSION EXISITING-DA REVISED-DA DIFFERENCE PAY FACTOR 382 401 DA 01.02.2010 01.05.2010 10000 18.000 6876.00 7218.00 342.00 10470 18.846 7199.17 7557.25 358.07 10940 19.692 7522.34 7896.49 374.15 11410 20.538 7845.52 8235.74 390.22 11880 21.384 8168.69 8574.98 406.30 12350 22.230 8491.86 8914.23 422.37 12820 23.076 8815.03 9253.48 438.44 13320 23.976 9158.83 9614.38 455.54 13820 24.876 9502.63 9975.28 472.64 14320 25.776 9846.43 10336.18 489.74 14880 26.784 10231.49 10740.38 508.90 15440 27.792 10616.54 11144.59 528.05 16000 28.800 11001.60 11548.80 547.20 16560 29.808 11386.66 11953.01 566.35 17120 30.816 11771.71 12357.22 585.50 17680 31.824 12156.77 12761.42 604.66 18240 32.832 12541.82 13165.63 623.81 18800 33.840 12926.88 13569.84 642.96 19360 34.848 13311.94 13974.05 662.11 19920 35.856 13696.99 14378.26 681.26 20480 36.864 14082.05 14782.46 700.42 21040 37.872 14467.10 15186.67 719.57 21660 38.988 14893.42 15634.19 740.77 22280 40.104 15319.73 16081.70 761.98 22900 41.220 15746.04 16529.22 783.18 23520 42.336 16172.35 16976.74 804.38 24140 43.452 16598.66 17424.25 825.59 24760 44.568 17024.98 17871.77 846.79 25380 45.684 17451.29 18319.28 868.00 26000 46.800 17877.60 18766.80 889.20 26620 47.916 18303.91 19214.32 910.40 27300 49.140 18771.48 19705.14 933.66 27980 50.364 19239.05 20195.96 956.92 28660 51.588 19706.62 20686.79 980.17 29340 52.812 20174.18 21177.61 1003.43 30020 54.036 20641.75 21668.44 1026.68 30700 55.260 21109.32 22159.26 1049.94 31600 56.880 21728.16 22808.88 1080.72 32600 58.680 22415.76 23530.68 1114.92 300 0.540 206.28 216.54 10.26 750 1.350 515.70 541.35 25.65 CIRCULAR NO.56 04.05.2010

TO ALL AFFILIATES/MEMBERS:

AMENDMENT TO GRATUITY ACT – 1972 REVIEW OF CEILING FROM RS.3.5 LAC TO RS.10 LAC

We are happy to inform all our members that the ceiling under the Payment of Gratuity Act 1972 has been revised from Rs.3.5 lacs to Rs.10 lac with the passage of the Bill in the Loka Sabha for amendment on 3.4.2010. The bill has to be passed at Rajya Sabha also. Our members may recollect that it was the initiative of the Confederation which prompted the Ministry of labour to take necessary action at the earliest for amendment of the Gratuity Act to this effect.

2. The leadership of the Confederation met the Deputy Minister of labour Shri. Harish Rawat and submitted a Memorandum requesting him for the immediate action for effecting necessary amendment to the Payment of Gratuity Act to raise the ceiling to Rs.10/- lacs and also to make it effective from 1.1.2006 as was done in the case of the central civil servants. We are now given to understand that as regards the date of effect, it would be dealt by the Labour Ministry while issuing the necessary notification. We have therefore sent yet another communication to the Deputy labour Minister, Government of India, New Delhi with an appeal to consider our request for making the amendment effective from 01.01.2006. A copy of our communication is enclosed.

3. All our affiliates / members are requested to await further developments in the matter.

With greetings,

(G.D.NADAF) GENERAL SECRETARY

No.1410/140/10 04.05.2010

To, Shri.Harish Rawat, Hon’ble Deputy Minister of Labour, Government of India, NEW DELHI.

Dear Sir,

AMENDMENT TO THE GRATUITY ACT - 1972 REVISION IN CEILING FROM RS.3.5 LAC TO RS.10.LAC

We are thankful to you for the immediate action taken in response to our representation for the amendment to the Payment of Gratuity Act 1972, revising the ceiling from Rs.3.5 lacs to Rs.10.00 lacs in tune with the acceptance of the recommendations of the 6th Pay Commission for the Central Government employees.

2. We are given to understand from the Press that the amendment has been moved by your goodselves and has been adopted by the Parliament with voice vote extending the benefit of the revision in the ceiling. We hope that, the bill will be duly passed in Rajya Sabha also. It was our earnest request to you at the time of our meeting you in person and handing over our representation that the benefit of the revision should be given on par with the Government employees who got this benefit from 1.1.2006 as a sequel to the acceptance of the 6th Pay Commission recommendations. The members of the banking fraternity all over the country are eagerly awaiting the issue of necessary notification giving the date of effect as 1.1.2006. It is in this background; we once again seek your indulgence in the matter and request you to ensure that the notification issued in this connection will take care of our request for the date of effect as 1.1.2006, for which act of kindness the entire bank officers’ fraternity will remain grateful to you Sir.

3. We are hopeful that our request will be responded positively.

Thanking you and with Regards,

Yours faithfully,

(G.D.NADAF) GENERAL SECRETARY