Page 6 - BANKING FINANCE APRIL 2024

BANK UPDATE

told IANS. She will also build partner- Bank for a period of three years, with encashed up to 255 days at the time
ships with multilateral and bilateral effect the date of assumption of office of retirement/upon death of an em-
agencies, foundations and networks, on or after March 10, or until further ployee while in service, it said.
and share knowledge of what works, orders, whichever is earlier," Indian
For the retired employees, it was
where and why. Bank said in a BSE filing.
agreed that the monthly ex-gratia
Singh, an agriculture graduate from amount shall be paid in addition to the
SBI obeys SC order, sub- Allahabad Agriculture Institute, has pension/family pension paid by the

mits details of poll bonds banking experience of over 28 years Public Sector Banks including SBI, to
and has held various responsibilities in pensioners and family pensioners, who
to EC Bank of Baroda including Credit Officer, became eligible to draw pension on or
A day after being pulled up by Supreme Branch Head, Regional Head. before October 31, 2022, including
Court, State Bank of India on 12 He has steered Retail Assets and Hu- those who retired on the said date.
March, 2024 submitted the list of buy- man Resource management with his
ers of electoral bonds and the parties rich expertise at the Corporate Office.
that have deposited them with the Govt updates list of
Election Commission. Singh has also served the Board of
Bank of Baroda, Uttar Pradesh Gramin banks authorised to
The poll panel confirmed that SBI had Bank as Director, the bank said.
submitted data on electoral bonds to import gold, silver dur-
it on 12 March, 2024. "In compliance Bank staff to get 17% an-
of Supreme Court's directions to SBI, nual wage hike ing FY25
contained in its order dated Feb 15 The government updated the list of
and March 11, 2004, data on electoral Indian Banks' Association and bank banks authorised to import gold and
bonds has been supplied by SBI to the employee unions have agreed on an silver during 2024-25. As per the list,
Election Commission of India," the annual wage hike of 17 per cent, lead- 11 banks, including HDFC Bank and
panel said in a social media post. ing to an additional yearly outgo of ICICI Bank, have been authorised by
around Rs 8,284 crore for public sec-
The court had directed the bank's tor banks. the Reserve Bank of India to import
chairman to file the information along gold and silver for 2024-25 with effect
As many as 8 lakh bank employees are
with an affidavit. SBI did not queries. from April 1.
set to benefit from the wage hike, The authorisation will be valid up to
Indian Bank appoints which will be effective from November March 31 next year.
2022. All India Bank Officers Confed-
Brajesh Kumar Singh as eration said that a joint note agreed "List of banks authorised to import

Executive Director to recognise all Saturdays as holidays, gold/silver...has been updated," the
pending government notification. Directorate General of Foreign Trade
Indian Bank said the Central govern- (DGFT) said in a public notice.
The revised working hours will be ef-
ment has appointed Brajesh Kumar
Singh as its Executive Director for a fective after notification by the gov- Three banks -- Indian Overseas Bank,
period of three years. ernment, it said. Punjab National Bank, and Union Bank
"The new pay scales have been con- of India -- have authorised by the RBI
Prior taking up the new responsibility, to import only gold for 2024-25 with
Singh was serving Bank of Baroda as its structed, after merging Dearness Al- effect from April 1 this year.
Chief General Manager - Human Re- lowance corresponding to 8088 points
and additional load thereon," it said.
sources. Gold imports rose 38.76 per cent to
Under the new wage settlement, all USD 44 billion during April-February
"...the Central Government vide Noti-
fication No 4/1(viii) dated March 9, women employees would be allowed this fiscal.
2024 appointed Brajesh Kumar Singh, to take one day sick leave per month However, silver imports dipped 11.53
Chief General Manager, Bank of without giving a medical certificate. per cent to USD 4.62 billion during the
Baroda as Executive Director of Indian Accumulated privilege leave may be period.

6 | 2024 | APRIL | BANKING FINANCE