ALL INDIA PUNJAB NATIONAL BANK OFFICERS’ ASSOCIATION

Central Office: C/o. PNB, BO: Shivaji Park, Mahim West, Mumbai – 40 016
ALL INDIA PUNJAB NATIONAL BANK EMPLOYEES’ FEDERATION
Central Office: C/o. Punjab National Bank, BO: Chaura Bazar, Ludhiana

01st Dec, 2022

Dear Comrades,

HRMD HO has issued a Notice TODAY, to start a Contributory Scheme for all working
employees of the bank.
On perusal of the Scheme published by HRMD HO which is in the form of a NOTICE and
not as a Circular, it is not at all transparent. At every stage eligibility is to be determined by a
group of CGMs as to what they feel.
Even on death cases there are 2 conditions for payment which automatically debars many.
It also appears that bank even envisage that only 2 times of Corporate Buffer is payable
whereas as per the policy entire medical Hospitalization amount is payable from
Corporate Buffer.
Except one year since inception of IBA Medical policy in 2015, all other years full
hospitalisation expenditure was paid from Corporate Buffer. One bank can use unused buffer
of another bank.
To cover this a note has also been inserted in the Notice that contribution shall be after
complete corporate buffer. If full amount is reimbursed from Corporate Buffer with better
administering by management, no further payment may be required.
Even on Disability, amount will be paid on case to case basis.
We have experienced how the group of GMs/CGMs have rejected huge number of
Compassionate appointment applications over the years.
A full proof policy should have been created with wider consultation. When it is contribution
from employees the committee to approve should have representatives from majority
Officers' Association (AIPNBOA) and Employees' Federation (AIPNBEF).
If an employee avails even a small amount of contribution he needs to continue his
contribution throughout service period.
Further, the Scheme is having inherent lacuna as it is based on cross subsidy as the
contributions are different.
We as Association & Federation feel that the policy should be fine tuned without leaving any
ambiguity of admissibility for different payouts.

Regards,

P R Mehta Dilip Saha

General Secretary General Secretary
AIPNBEF AIPNBOA