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Home India Bank of Baroda Gazette In exercise of the powers conferred...
REGULATORY POLICY EXTRA ORDINARY

In exercise of the powers conferred by sub section 1 and clause f of sub section 2 of section 19 of the Banking Companies Acquisition and Transfer of Undertakings

Date: 7th November 2023
Category: Extra Ordinary
Issued by Bank of Baroda
New Delhi

Read or download the official PDF of this gazette notification issued by the Bank of Baroda on 7th November 2023. Classified under Extra Ordinary.

Official Gazette Notification Text

Official Transcript

रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 xxxGIDHxxx सी.जी.-एम.एच.-अ.-07112023-249943 xxxGIDExxx CG-MH-E-07112023-249943 असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 751] नई कदलली, मगं लवार, नवम्ब र 7, 2023/कार्तकज 16, 1945 No. 751] NEW DELHI, TUESDAY, NOVEMBER 7, 2023/KARTIKA 16, 1945 बकैं ऑफ़ बड़ौदा (मानव ससं ाधन...

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  • The gazette notification announces amendments to the Bank of Baroda (Employees’) Pension Regulations, 1995. These amendments are made by the Board of Directors of Bank of Baroda after consulting with the Reserve Bank of India and with the prior approval of the Central Government.
  • The amendments address aspects related to pension calculations for part-time employees, family pension eligibility, dearness relief, and family pension amounts.
  • Regulation 27 is amended to specify that for permanent part-time employees covered by the pension scheme since November 1, 2012, their actual service will be considered for qualifying service, not pro-rata.
  • Regulation 27 clarifies that actual or qualifying service for permanent part-time employees is calculated from the date of recruitment/appointment or September 1, 1978, whichever is later.
  • Regulation 36 is amended to introduce a fixed monthly amount for employees retiring on or after November 1, 2012. This includes Rs. 2,785 for full-time employees, and specific amounts for part-time employees based on their scale of wages (Rs. 932 for 1/3 scale, Rs. 1,397 for 1/2 scale, and Rs. 2,096 for 3/4 scale).

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