Document Fragment View

Matching Fragments

Vide their memorandum No.F.No.10/49/84-SCT(B) dated 10.586 the Govt. has now clarified as under:-
The banks may invite options from the pre 1.9.78 ex-servicemen entrants to the Bank service to exercise fresh option to come over to the post 1.9.78 pay fixation formula in which case their pay will be refixed with effect from 1.9.78 as if they were fresh entrants to the Bank service. No arrears on account of re-fixation of pay will, however, be admissible to such options.
With effect from 1.7.83, the pay fixation on re-employment of ex-servicemen in the banks would be through protection of the basic pay plus DA drawn by then at the time of their release from the armed forces. The figure of pay plus DA admissible to the Bank will be fixed with reference to this protection and the relevant stage of the basic pay in the scale will be determined after deducting DA admissible in the Banks from the figure protected.
The Govt. of India, Ministry of Finance (Banking Division) desired that it be clarified to all the bank that it would be necessary to ensure that the basic pay plus dearness allowance, the Special allowance for Armed Guards/Watchmen are taken into account while protecting the last drawn basic pay and dearness allowance thereon at the time of retirement/discharge from the service of armed forces as the special allowance is in the nature of Basic pay.
The protection as above (i.e. with special allowance component) would also be relevant if the ex-servicemen are recruited as stenographers or at some other allowance carrying position in clerical/subordinate grades.