Skip to content
Home India Canara Bank Gazette In exercise of the powers conferred...
REGULATORY POLICY EXTRA ORDINARY

In exercise of the powers conferred by subsection

Date: 10th August 2023
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 10th August 2023. 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.-10082023-247993 xxxGIDHxxx CG-KAxx-xEG-I1D0E0x8x2x0 23-247993 असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 556] नई ददल्ली, बुधर्ार, अगस्ट्त 9, 2023/श्रार्ण 18, 1945 No. 556] NEW DELHI, WEDNESDAY, AUGUST 9, 2023/SHRAVANA 18, 1945 केनरा बकैं (प्रधान कार्ाला र्: बगें...

PolicyIndex Takeaway
Get AI summary →
  • The gazette notification announces amendments to the Canara Bank (Employees’) Pension Regulations, 1995. These amendments are made by the Board of Directors of Canara Bank after consulting with the Reserve Bank of India and with the prior approval of the Central Government.
  • The amendments primarily address pension calculations and family pension eligibility, particularly focusing on part-time employees and those who retired or died on or after November 1, 2012.
  • Regulation 27 is amended to specify that for permanent part-time employees in scale wages covered by the Pension Scheme, actual service is reckoned for qualifying service, effective from November 1, 2012, and the qualifying service is calculated from the date of recruitment as a permanent part-time employee or from September 1, 1978, whichever is later.
  • Regulation 36 is amended to include a fixed monthly amount for medical aid to pensioners, with specific amounts defined for full-time employees and part-time employees drawing 1/3, 1/2, and 3/4 scales of wages who retired on or after November 1, 2012. The amounts are Rs. 2,785 for full-time employees, Rs. 932 for 1/3 scale, Rs. 1,397 for 1/2 scale, and Rs. 2,096 for 3/4 scale part-time employees.
  • Regulation 40 is amended to revise the conditions for family pension eligibility for sons, daughters, and parents. Family pension is discontinued if the eligible son or daughter earns more than Rs. 10,000 per month from employment or self-employment. Similarly, for parents, family pension is discontinued if the income of either parent or the combined income of both exceeds Rs. 10,000 per month.

Get daily policy updates in your inbox

Choose the sectors and regulators you care about. We'll send only what matters to you.

No spam. Unsubscribe anytime.