Bank Unions Demand Removal Of Embargo On Enhancement Of Perquisites In Banks

Four major bank unions – All India Bank Oficers’ Confederation (AIBOC) , All India Bank Officers’ Association (AIBOA), Indian National Bank Officers’ Congress (INBOC) and National Organization of Bank Officers (NOBO), have written a joint letter to Debashish Panda, Secretary, Department of Financial Services in the Ministry of Finance, asking the government to lift the embargo on PSBs on enhancement of entitlement of ceiling of
various perquisites like Furniture & Fixtures et al for officers to curtail overhead expenses.

The letter written by the four unions is reproduced below for the benefit of the viewers of 

Shri Debasish Panda Secretary
Department of Financial Services Ministry of Finance
Government of India
New Delhi

Dear Sir,

Removal of embargo on enhancement of perquisites in Banks


Subsequent to the spread of Covid-19 pandemic since March 2020 across the country, Government has placed embargo on PSBs on enhancement of entitlement of ceiling of various perquisites like Furniture & Fixtures et al for officers to curtail overhead expenses.

However, it has been amply established during the pandemic situation that the bankers have put in yeoman service in keeping the wheels of the economy moving and thereby implementing various schemes of the government to provide relief to the citizens and also to boost the economy. As
Frontline Covid Warriors, the toll on bankers has been heavy as everyday news of our employees and officers succumbing to the disease are trickling in across the country. In the wake of the resurgent pandemic and the loss of lives of bankers across the country several banks have included some
essential items like Oxygen Concentrators/Cylinders, air purifier etc. in the list of eligible Furniture & Fixtures to enable them to retain at their home covid support and other utility items. These items have become essential lifesaving equipment and owning them reduces the pressure on public medical infrastructure, and helps timely treatment and possible loss of lives.

Incidentally, the monetary ceiling for purchase of standard items of furniture and fixtures were fixed long ago and the cost of such items has gone up considerably during the past couple of years. As almost all the officers have already utilized 100 percent of their monetary ceiling, now they are not able to purchase such covid support and other utility items provided by the bank. However, owing to the embargo placed by Government, Banks are unable to revise the monetary entitlement ceiling which is highly necessary at this hour of crisis thus depriving most of the officers to avail the provisions of these essential items. Further, the officers are seriously inconvenienced with the non-revision of leased rental ceiling as a large section of officers are finding it difficult to find suitable accommodation within the overall entitlement. It is pertinent to mention that nearly 50% of the entire officers’ fraternity is compelled to stay in leased accommodations on account of the transferability of their job profile.

We, therefore, request you to revisit the decision with a pragmatic approach and lift the embargo placed on the Banks to enhance the ceiling of perquisites especially of Furniture & Fixture and Leased rentals, which would be hailed by the entire fraternity as a just recognition of the yeoman service rendered to the nation in times of national crisis.

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