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BANKING & NBFCS EXTRA ORDINARY

In exercise of the powers conferred by section 19, read with sub section (2) of section 12 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), the Board of Directors of the Canara Bank

Date: 29th November 2024
Category: Extra Ordinary
Issued by Canara Bank
New Delhi

Read or download the official PDF of this gazette notification issued by the Canara Bank on 29th November 2024. Classified under Extra Ordinary.

Official Gazette Notification Text

Official Transcript

रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-के.ए.-अ.-29112024-258990 xxxGIDHxxx CG-KA-E-29112024-258990 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 949] नई ददल्ली, बहृ स्ट्प जतवार, नवम्ब र 28, 2024/अग्रहार्ण 6, 1946 No. 949] NEW DELHI, THURSDAY, NOVEMBER 28, 2024/AGRAHAYANA 6, 1946 केनरा बकैं (मानव ससं ाधन...

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  • This gazette notification details amendments to the Canara Bank (Officers’) Service Regulations, 1979. These amendments, effective from various dates, primarily from November 1, 2017, relate to pay scales, allowances, leave policies, and other service conditions for officers of Canara Bank. The changes are a result of agreements between the Indian Banks’ Association and bank officers’ associations.
  • Definition of 'family' is revised to include dependent parents, with a monthly income limit of ₹12,000 per parent or combined for both parents. Married female officers can choose to include either her natural parents or parents-in-law, but not both, if they are wholly dependent. For medical reimbursement, any two dependent parents or parents-in-law will be covered.
  • New pay scales are introduced for all grades of officers, effective November 1, 2017, with a separate scale for Top Executive Grade VIII effective March 31, 2020. Officers will be fitted into the new scales on a stage-to-stage basis.
  • Special allowances are revised. From November 1, 2017, officers in Scales I-III receive 16.40%, Scales IV-V receive 19%, and Scales VI-VII receive 20% of basic pay plus applicable dearness allowance. Scale VIII officers are eligible from March 31, 2020.
  • Stagnation increments are revised. Officers in Scales I and II will get further increments including stagnation increments in the next higher scale after reaching maximum in their respective scales. The periodicity of stagnation increments for officers in Scales I to IV is adjusted to two years from three years, effective November 1, 2017, with monetary benefits payable from November 1, 2020 or actual date of entitlement, whichever is later.

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