20% Incentive for bank officers

20% Incentive for bank officers

F.No.4/4/2/2001-IR
Government of India
Ministry of Finance
Department of Financial Services

Jeevan Deep, IIIrd Floor,
Parliament Street, New Delhi

Dated the September 26, 2014

To
The Chairman’
SBI/IDBI and CMDs of all PSBs.

Subject: Incentives to officers posted to North Eastern Region – revision thereof

Sir,

I am directed to refer to this Department’s letter of even number dated 11.1.2002 on the subject cited above and to say that proposal of revision/reconsideration of the ceiling of ad hoc and temporary incentives to officers posted North Eastern Region has been examined in this Department and it has been decided to advise the Public Sector Banks as follows

i) The incentive shall be 20% of basic pay with minimum Rs. 3000/- pm and maximum Rs. 7500/- pm.

ii) Officers belonging to a State in North Eastern Region but posted in other States of North Eastern Region shall also be eligible.

2. Other terms and conditions as provided earlier and cover ed in letter dated 11.1.2002 shall remain the same. The above revision in the incentives is applicable with immediate effect. Banks are requested to take appropriation action accordingly.

3. This issues with the approval of Secretary (FS).

Yours faithfully,

sd/-
(Manish Kumar)

Under Secretary to the Government of India

Source: http://financialservices.gov.in/download.asp?rec=317&NotificationType=C