QUIZ-1
INDIAN POLITY || INTRO PART-1
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Every PSB has undergone wage settlement called 11th BPS or 8th joint note signed in 2020.Performance Linked Incentive was introduced in public sector banks to all the employees. Various banks announced PLI and number of days listed below for FY2024. PLI is calculated on the salary components of Basic and DA. However unions are conducting a meeting to review the PLI formula. Most of the banks have announced their balance sheet results. Based on these result operating profit we have calculated the PLI amount.At present as per IBA circular the DA slab rate is 15.7 percent.
Clause regarding 5 days banking is included in 12th BPS. It is a long awaited demand from the bank unions/association. The 5Day banking is going to be expected to be implemented from June 2024
17% Increment in the pay slip of all the banking professions. Gross salary will be hiked by 17%.
Those officers who have completed their CAIIB are going to get extra increment in their pay component. This was implemented in 12th BPS. Previously there were 2 increments for clerical and only one increment for officers.This increment is effective from 1st Nov 2022
From 8, 9 , 10 percent to 12, 13, 14 percent respectively Increased FOR OFFICERS AND 10.5% FOR ALL CLERKS WITH NO MIN AND MAX LIMIT.
Introduction of leave bank. You can donate your leaves to others who are in need.
PL encashment can be done to at the time of retirement to the maximum of 255 days. Previously it was 240 days.
Upon transfer of the officer employee allowance for transfer will be 40,000 rupees. 15 Days lodging/HA will be paid.
SPECIAL ALLOWANCE is increased from 16.4% 26.4%. It does not carry any pension benefits.
New basic pay starts at 48480 for officers.
4 HALF day Casual leaves introduced
500 Rupees per year for eye checkup will be reimbursed
All female employees can avail one sick leave per month without medical certificate
A Record will be maintained in case management is rejecting/refused the leave applied.
Rupees 1500 per quarter closing allowance will be paid. It was 250 rupees as per 11th BPS
Minimum of 4 days an employee should work above the scale he is at present. Then officiating pay of 15% of the Basic pay will be paid.
Learning allowance of 850 rupees per month will be paid
1200 Rupees per month will be paid as location allowance for the officers working in rural and hilly areas (NON CCA)
Nov-22 : 38.92/7.44
Feb-23 : 41.16/9.41
May-23 : 41.72/9.9
Aug-23 : 44.24/12.07
Nov-23 : 48.51/15.77
FEB-24 : 48.51/15.77
To calculate your gross salary of 12th bps u can Click Here , Just enter your grade, scale and whether CAIIB PASSED OR NOT PASSED
11th BPS salary
basic pay:41960
DA:20354
Special Allowance:10219
Learning Allowance:891
Location Allowance:700
Total salary : 74125
12Th BPS salary Without CAIIB Increment
Basic pay AFTER 4 INCREMENTS AS ON DATE OF WORK EXPERIENCE:56480
NEW BASIC AS PER 12TH BPS 56480
DA:56480*15.73/100= 8884
Special Allowance:(56480+8884)*26.5%= 17321
Learning Allowance:850*15.73/100 (DA)= 983
Location Allowance: 1200
Total salary : 84,868
This component of pay is payable upon reaching the stagnation. PQP-1 is 1370
For officer scale 1 : 48480 2000/7, 62480 2340/2, 67160 2680/7, 85920
For Scale 2 : 64820 2340/1, 67160 2680/10, 93
For officer 2% on basic pay on pay slip
With the implementation of 12th BPS arrears we get approximately is Rs. 84868-74125=10743 per month. As the 12th BPS is due from 17months arrears payable we will get 10743*17=182631 as arrears in 12th BPS
12Th BPS salary calculation With CAIIB exam Increment
With CAIIB INCREMENT WE WILL GET 3016 Rs extra every month for Officer scale 1 for the rest of the service in bank.
With CAIIB INCREMENT ARREARS OF RS 3016*17 = 51272 Rupees for 17 months will be getting
Total arrears of 12th BPS FOR BANK OFFICERS = 182631 + 51272 = 2,33,903
Deduction of NPS @ 10% 233903-23390 = 2,10,513
On this net salary, Levy of 4% will be charged by their respective unions. 8420 will be deducted from net salary. The final net salary as arrears of 12th BPS FOR BANK officer scale 1 will be Rs. 2,02,092 /- .
Factors determining the rates (fundamental and technical)
Foreign exchange market Participants
Ready Spot and Forward
FEDAI
FEMA act - 1999
RBI Functions related to Foreign Exchange
DGFT
ECGC
INCO Terms
Direct and Indirect rates
Arbitrage and Speculation
Holiday forex deals
Premium and Discount
Nostro, Vostro, Loro, SNRR, FCNR, RFC Accounts
EEFC
Direct and Indirect currencies (GEAN)
NTP
Crystallisation of Import bill
Crystallisation of Import bill
Foreign Trade Policy
Trade Credit
Advance Payment against Import Bill
Advance Payment against Export Bill
Forfaiting Export Finance against Export receivables
Factoring
Letter of Credit
Correspondance banking
Authorised Dealers
Dealing Room
Cross Rate Problems
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