UNION IS STRENGTH

Federal Bank Officers’ Association

(Affiliated to All India Bank Officers' Confederation)
Registered under the Indian Trade Union Act, 1926.
Central Office: FBOA CENTRE, FBOA ROAD, ALUVA - 683 101
Phone: Office: 0484-2624646, 2627646. Fax: 2628646. Gen. Secy. (Res.): 2424457
Mobile : General Secretary: 09895378557, E-mail: fboamail@gmail.com , Web Site: www.fboa.net
Circular No. 45/2017-19 27th June, 2019
To All Members

FBOA Achieves
Landmark Settlement
Victory of Our Unity
We are extremely glad to inform our members that a historic settlement is signed today on 27th
June 2019 at 6.45 pm between Federal Bank Officers’ Association and the Federal Bank
Management after several rounds of protracted negotiations on the internal Charter of Demands
submitted by us. It upholds the merits of the proven and time tested bi-partite mechanism in our
Bank once again proving our collective bargaining power on the one hand and manifesting the
focus of the Management on Officers’ welfare on the other. Achievement of this path-breaking
settlement ensures substantial improvement in all significant areas of staff benefit and once again
reiterates our superior position in the industry with regard to the Service conditions of Bank
Officers.

Sri. Ajith Kumar K K, CHRO and Shri. Paul Mundadan, FBOA General Secretary,
exchange the Agreement on Internal Charter of Demands in the presence of Shri. Jenib J Kachapilly,
FBOA President and other Office bearers and the Management Team on 27th June 2019.
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 HIGHLIGHTS OF THE SETTLEMENT
 Lease Rental Ceilings at all centres enhanced substantially retaining the existing additional
special hike in the 39 previously upgraded rental centres.
 Housing Loan amount enhanced to the highest ever industry top Rs. 80 Lacs from the
existing Rs. 62.50 Lacs.
 Housing Loan interest slab limit raised for greater coverage of lower interest benefit in new
and existing Housing Loans
Upto and including Rs. 13 Lacs - 5% (simple) p.a.
(Slab limit raised from Rs.9 Lacs to Rs. 13 Lacs)
Above Rs. 13 Lacs upto and including to Rs. 38 Lacs - 6.75% (simple) p.a.
(Slab limit raised from Rs. 30 Lacs to Rs. 38 Lacs).
Above Rs.38 Lacs to Rs. 80 Lacs - 7.25% (simple) p.a.
 Vehicle Loan (Car Loan) limit enhanced –
Scale I - Raised to Rs. 8.50 Lacs from Rs. 7.50 Lacs
Scale II & III - Raised to Rs. 11.00 Lacs from Rs. 9.50 Lacs
 Vehicle Repair Loan limit enhanced to Rs. 70000/-
 Personal Loan Limit raised to Rs. 9.00 Lacs from Rs. 8.00 Lacs
 Interest on Personal Loan reduced to 8.50% from 8.75%
 Demand Loan Limit raised to Rs. 3 Lacs from Rs.2.25 Lacs
 Interest on Demand Loan reduced from 8.75% to 8.50%
 Transfer Discomfort Loan raised to Rs. 2.00 Lacs from Rs. 1.50 Lacs
 Interest on Transfer Discomfort Loan reduced from 9.50% to 9.25%
 Staff Gold Loan limit increased to Rs. 5.50 Lacs from Rs. 4.00 Lacs
 Interest rate on Staff Gold Loan reduced from 8.75% to 8.25%
 Computer Loan limit enhanced to Rs. 90000/-
 Officers’ Furniture Loan on declaration basis enhanced:
OFL to Scale I Officers - Raised to Rs. 1.90 Lacs from Rs. 1.50 Lacs
OFL to Scale II & III - Raised to Rs. 2.20 Lacs from Rs. 1.80 Lacs
 Interest Rates of Federal Career Solutions Loan/Federal Vidya Loan availed by Officers
reduced
Interest for Loans upto Rs. 4 Lacs reduced to 7% from 7.50%
Interest for Loans above Rs. 4 Lacs reduced to 7.50% from 8%

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 Interest for new Special Vidya Loans from 01.07.2019 shall be at the fixed reduced rate
of 9.75%.
Interest for the existing Vidya Loans prior to 01.07.2019 can be converted to the reduced
fixed rate of 9.75% or can be maintained at the existing floating rate which will become the
Fixed rate in such cases for the remaining loan tenure as per the option of the borrower
Officer.
 Digital Promotion Allowance to all Officers is increased to Rs. 2200/-p.a. payable on a half
yearly basis (Rs. 1100/- each in September and March)
 Festival Advance to Officers raised to Rs. 80000/- from Rs. 60000/-
 Petrol reimbursement eligibility increased by additional 10 Ltrs to all Officers with 4 wheelers
from the existing limit.
 Petrol reimbursement eligibility Increased by 5 Ltres per month in the case of 2 wheelers
from the existing limits for various catagories.
 Fixed Conveyance re-imbursement increased:
Scale 1 - Raised to Rs. 3000/- from Rs. 2500/-
Scale II & III - Raised to Rs. 3300/- from Rs. Rs. 2800/-
 Re-imbursement of Residential / Mobile Phone call charges enhanced substantially.
Scale 1 - Raised to Rs. 1000/- from Rs. 750/-
Scale II - Raised to Rs. 1450/- from Rs. 1150/-
 Mobile and Phone combined eligibility increased
Scale I & II (Principal Officers) - Raised to Rs. 2500/- from Rs. 2000/-
Scale III - Raised to Rs.2900/- from Rs. 2400/-
 Reimbursement of Entertainment Expenses enhanced
Scale I - Raised to Rs. 2250/- from Rs. 1800/-
Scale II - Raised to Rs. 2500/- from Rs. 2000/-
Scale III - Raised to Rs. 2850/- from Rs. 2300/-
 Medical Check-up reimbursement enhanced to Rs. 6000/- p.a. (Officer) from
Rs. 5000/- and to Rs. 7500/- p.a. (Officer plus spouse) from Rs. 6000/-.
 Re-imbursement of cost of Cleansing materials enhanced to Rs. 1000/- from
Rs.800/-
 Reimbursement of cost of Brief Cases on declaration basis in 3 years
Scale I - Increased to Rs. 4500/- from Rs. 3750/-
Scale II and III - Increased to Rs. 5000/- from Rs. 4250/-

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 Re-imbursement of Annual Vehicle Maintenance expenses.
Scale I - Raised to Rs. 3700/- from Rs.3100/-
Scale II and III - Raised to Rs. 4550/- from Rs.3900/-
All Principal Officers - Raised to Rs. 5750/- from Rs.5000/-
 Re-imbursement of cost of Newspaper/additional magazine
Scale I &II - Raised to Rs. 525/- from Rs. 450/-
Scale III - Raised to Rs. 700/- from Rs. 625/-
 Business Promotion Expenses to all Principal Officers in Scale I, II and III raised to Rs.
4,000/- from Rs. 3250/- in 'A1' Centres and to Rs. 3500/- from Rs.2750/- in other centres.
 Club Allowance - Admission fee enhanced to Rs. 12,000/- from Rs. 10000/- per month.
 Annual Club subscription eligibility to Branch Managers enhanced to Rs.10000/- from Rs.
8000/- in Metros,to Rs. 8500/- from Rs. 7250/- in State capitals and A class centres and
to Rs. 8000 from Rs.6800/- in other places.
 Annual Entertainment Allowance to Principal Officers stands increased (on account of the
enhancement in Club allowance) to Rs. 5000/- from Rs. 4000/- in Metros, Rs. 4250/-
from Rs. 3625/- in State Capitals and 'A' class centres and to Rs. 4000/- from Rs. 3400/
- in other centres.
 Out of pocket expenses on ATM supervision enhanced to Rs. 2000/- per month from
Rs.1800/-
 System Administrator Allowance increased to Rs. 1350/- from Rs. 1250/-
 Additional Lump sum amount payable on Transfer enhanced to Rs. 19000/- from
Rs.17500/-, to Rs. 28500/- from Rs.26000/- to Rs. 32000/- from Rs.29000/-depending
on distance categories of 1000/2000/and Above 2000 kms.
 Half yearly Closing Allowance enhanced to Rs. 1300/- from Rs. 1100/-
 Special Purpose (Marriage) Loan will be extended to Officers for the purpose of marriage
of their Sons also as in the case their Daughters
 Retired Officers are given the facility to avail personal loan of Rs. 2 Lakhs for a tenure of
4 years
 The revision in all allowances will have retrospective effect from 01.06.2019 and the effective
date of the reduction in interest rate in existing and new loans will be 01.07.2019.
We are attaching the Minutes of discussions along with this circular

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Comrades Hats Off to all of you for your unstinted and patient support for arriving at an impressive
settlement clinching substantial monetary improvement in our working conditions. Let us uphold
the spirit of unity and pride as a FBOA member and unflinching loyalty to our beloved Institution.
We are thankful to our MD and CEO Sri. Shyam Srinivasan and the Management Team comprising
of the present CHRO and Sr. Vice President Sri. Ajith Kumar K K, Former Network –I Head
and Executive Vice President Sri. Jose V Joseph, Former HR Head and Sr. Vice President Sri.
P K Satheesh, Sri. M A Thomas, Vice President (HR), Shri. John P J, Vice President (HR), Shri.
Shiju K V and Shri.Sudheesh Kumar M, Dy. Vice Presidents for their positive approach to our
Charter of Demands in the process of negotiation. Our negotiating team consisted of President
Shri. Jenib J Kachapilly, General Secretary Shri. Paul Mundadan, Former President Shri.V S
Pradeep and other Office-Bearers of FBOA.
FBOA calls upon all our members to rise up to the occasion to effectively take up the
business challenges before us with added vigour and renewed enthusiasm. Let us continue
to make our individual and collective positive contributions to take our Bank to greater
heights of growth and glory, true to our great tradition and loyalty. Let us also keep our
collective priorities and dreams about the Bank close to our hearts always and give our
best to it with a passion for its consistent and all-round growth and prosperity of all
Federals.
With Warm Greetings

Cordially Yours

Paul Mundadan
General Secretary

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MINUTES OF THE DISCUSSIONS HELD BETWEEN THE REPRESENTATIVES
OF THE MANAGEMENT OF THE FEDERAL BANK LTD AND THAT OF
FEDERAL BANK OFFICERS’ ASSOCIATION
Representatives of the Management
1. Shri Ajith Kumar K K, Senior Vice President & CHRO
2. Shri Thomas M A, Vice President (HR)
3. Shri John P J, Vice President (HR).
4. Shri Shiju K V, Deputy Vice President (HR)
5. Shri Sudheesh Kumar M, Deputy Vice President (HR)
Representatives of Federal Bank Officers’ Association
1. Shri Jenib J Kachapilly, President
2. Shri Paul Mundadan, General Secretary
3. Shri. Velappan Unni S, Vice President
4. Shri Abdul Nazar M P, Vice President
5. Shri. Rajkamal D, Vice President
6. Shri. Sasi P R, Vice President
7. Shri Manu C S, Dy. General Secretary
8. Smt Nisha S Variyar, Dy. General Secretary
9. Shri Shimith P R, Dy. General Secretary
10. Shri. More Vikas Vishnu, Dy. General Secretary
11. Shri. Sachin Jacob Paul, Treasurer
12. Shri. Dhanesh Jose, Asst. Treasurer
13. Shri. Rajesh N, Asst. Secretary
Federal Bank Officers’Association (FBOA) submitted a Charter of Demands on 05/11/2018.
Discussions were held between the representatives of the Management and those of FBOA on
various dates and an understanding has been arrived at as follows:
1. Medical Checkup
Representatives of the management agreed to enhance reimbursement of expenses incurred by
Officers for yearly medical checkup to a maximum of Rs 6000/- per annum from the existing
amount of Rs 5000/-. Officers who undertake medical checkup along with the spouse will be
reimbursed a maximum amount of Rs 7500/- per annum from the existing amount of Rs 6000/.
All other existing terms and conditions will continue to be in force.
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2. Fixed Conveyance Allowance
Representatives of the Management agreed to enhance the maximum amount of fixed conveyance
allowance payable to Officers as follows, subject to other applicable norms:
Scale I Rs. 3000/- per month from the existing amount Rs 2500/-.
Scale II & III Rs. 3300/- per month from the existing amount of Rs 2800/-.
3. Reimbursement of cost of Petrol / Diesel
(a) Representatives of the Management agreed to enhance the maximum quantum of petrol/
diesel to all Officers who own and maintain four wheelers, as follows, subject to other
applicable norms.
Category Four Wheelers – Litres per month Four Wheelers – Litres per month
Existing Revised
(Eligibility of Principal Officers shown in (Eligibility of Principal Officers shown in
brackets) brackets)
A1 A2 A3 A1 A2 A3
Scale I 70 (90) 70 (85) 65 (80) 80 (100) 80 (95) 75 (90)
Scale II 75 (100) 75 (95) 70 (90) 85 (110) 85 (105) 80 (100)
Scale III 85 (110) 85 (105) 75 (95) 95 (120) 95 (115) 85 (105)

(b) Those Officers who do not claim petrol/diesel reimbursement for four wheelers, but own
and maintain two wheelers will get an additional 5 Litres of Petrol per month from the existing
limit applicable for Two wheelers.
4. Reimbursement of Mobile Phone call charges
It has been agreed to enhance the reimbursement of mobile phone call charges to Scale I &
Scale II Officers other than Principal Officers as follows, subject to other applicable norms.
Scale I Rs 1000/- per month from the existing amount of Rs 750/-.
Scale II Rs 1450/- per month from the existing amount of Rs 1150/-.

5. Reimbursement of Residential telephone / Mobile phone call charges

It has been agreed to increase the combined telephone eligibility of all Principal Officers in Scale
I & II and all Scale III Officers as follows, subject to other applicable norms:
Scale I & II Rs 2500/- per month from the existing amount of Rs 2000/-.
(Branch Heads)
Scale III Rs 2900/- per month from the existing amount of Rs 2400/-

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6. Entertainment Expenses
Representatives of the Management agreed to enhance the maximum amount of reimbursement
of entertainment expenses as follows subject to other applicable norms:
Scale I Rs 2250/- per month from the existing amount of Rs 1800/-.
Scale II Rs 2500/- per month from the existing amount of Rs 2000/-.
Scale III Rs 2850/- per month from the existing amount of Rs 2300/-.

7. Reimbursement of Cost of Cleansing Materials

Representatives of the Management agreed to enhance the cost of cleansing materials to a maximum
of Rs 1000/- per month from the existing amount of Rs 800/- per month, subject to other applicable
norms.
8. Reimbursement of Cost of Briefcase
Representatives of the Management agreed to enhance the maximum amount for reimbursement
of cost of briefcase/ladies Bag to Rs 4500/- from the existing amount of Rs 3750/- for Scale I
Officers and Rs 5000/- from the existing amount of Rs 4250/- for Scale II & III Officers, subject
to applicable norms. Period of reimbursement will continue to be the same, on declaration basis.
9. Vehicle Maintenance Expenses
Representatives of the Management agreed to enhance the reimbursement of annual vehicle
maintenance expenses as follows, subject to other applicable norms.
Scale I : Rs 3700/- from the existing Rs 3100/-
Scale II & III : Rs 4550/- from the existing Rs 3900/-
Principal Officers : Rs 5750/- from the existing Rs 5000/-
in Scale I, II & III
10. Business Promotion Expenses
Representatives of the Management agreed to enhance the business promotion expenses payable
to Principal Officers as follows, subject to other applicable norms:
Category Existing Revised
Scale I, II & III A1 Centres Other Centres A1 Centres Other Centres
(Principal Officers)
3250 2750 4000 3500

11. Newspaper
It has been agreed to enhance the cost of reimbursement of Newspaper/Additional Magazine as
follows, subject to eligible norms.
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Scale I & II Rs 525/- per month from the existing amount of Rs 450/-
Scale III Rs 700/- per month from the existing amount of Rs 625/-

12. Scholarship for the Children of Officers

Representatives of the Management agreed to enhance the maximum amount of Scholarship to
the children of Officers per annum as follows, subject to other applicable norms.
Category Existing Revised
Children studying in STD IV, V, VI & VII 2000 2600
Children studying in STD VIII, IX, X, XI & XII 3000 3600
Children studying for BA, B Sc, LLB , other degree 3800 4500
Courses & Post Graduate Degree courses like
MA, M Sc, M Com
Children studying for Professional Courses 5400 6100

13. Club Allowance

Representatives of the Management agreed to enhance the maximum ceiling of admission fee of
club membership for Principal Officers to Rs 12000/- from the existing amount of Rs 10000/-
per month subject to other existing stipulations in this regard. It is also agreed to enhance the
annual subscription of Club Allowance as follows:
Category Existing Revised
Branch Managers in Metro Centres 8000 10000
Branch Managers in State Capitals 7250 8500
Branch Managers in Other Centres 6800 8000

14. Out of Pocket expenses to Officers assigned with duties of ATM

It has been agreed to enhance the amount of out of pocket expenses reimbursed to Officers
assigned with duties of ATM related works to Rs 2000/- per month from the existing amount of
Rs 1800/-. All other extant terms & conditions for claiming ATM allowances will continue to be
applicable.
15. System Administrator Allowance
It has been agreed to enhance the amount of System Administrator allowance reimbursed to
Officers assigned with duties of System Administrator to Rs 1350/- per month from the existing
amount of Rs 1250/-. All other extant terms & conditions for claiming System Administrator
allowance will continue to be applicable.
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16. Lump sum amount payable on Transfer
It has been agreed to enhance the lump sum amount payable on transfer to Officers and the
maximum eligible amount including industry wise eligible amount will be as follows subject to
other applicable norms.
Distance to the place of posting Existing Revised
Upto 1000 Kms 17500 19000
1001 Kms -2000 Kms 26000 28500
Above 2000 Kms 29000 32000

17. Closing Allowance

Representatives of the Management agreed to enhance the closing allowance payable to Officers
during every half yearly closing to Rs 1300/- from the existing amount of Rs 1100/-.
18. Digital Promotion Allowance
Representatives of the Management agreed to enhance Digital Promotion Allowance, payable to
all Officers in scale I,II & III, to Rs 2200/- per annum, which will be payable on a half yearly
basis (Rs 1100/- each ) in September & March, from the existing amount of Rs 1800/-.
19. Leased Accommodation
Representatives of the Management agreed to enhance the rental ceilings of leased accommodation
provided to Officers as follows, subject to other applicable norms:

Scale of A1 Centres (Rs) A2 Centres (Rs) A3 C Cen

Officer Centres tres
New Delhi & Others A2 A2 (Rs)
Mumbai (Rs)
Bangalore (Pune)

Existing 20000 18500 17000 12000 14000 9000 6900

Scale I Upto 31.03.2020 22500 20800 19100 13200 15400 9900 7600
From 01.04.2020 23000 21300 19500 13500 15800 10150 7800
Existing 20000 18500 18000 12750 15000 9750 7400
Scale II Upto 31.03.2020 22500 20800 20250 14050 16500 10750 8150
From 01.04.2020 23000 21300 20700 14350 16900 10950 8350
Existing 23000 22000 21000 13500 15500 10000 7900
Scale III
Upto 31.03.2020 25900 24750 23600 14850 17050 11000 8700
From 01.04.2020 26450 25300 24150 15200 17450 11250 8900

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All Officers in Scale I, II & III, working in those 39 Branches, which had been listed in the
annexure to the agreement dated 31/10/2016, would be eligible for the additional rental amount,
over and above the revised eligibility, at the same rates as provided therein.
20. Housing Loan
a) Representatives of the Management agreed to enhance the maximum amount of Housing
Loan to Officers from the existing limit of Rs 62.50 lakh to Rs 80.00 lakh subject to other
applicable norms/ stipulations.
b) The rate of interest will be as follows:
 Upto & including Rs 13 Lakh @ 5% Simple
 Above Rs 13 Lakh upto and including Rs 38 Lakh @ 6.75% Simple
 Above Rs 38 lakh @ 7.25% Simple
All other terms and conditions of Housing Loan scheme published in Federal Bulletin 13/2006
and subsequent improvements, will continue to be applicable.
21. House Maintenance Loan
Representatives of the Management agreed to enhance the maximum amount of House Maintenance
Loan to Officers from the existing limit of Rs 4.50 Lakh to Rs 5.50 Lakh, subject to other
applicable norms/stipulations
22. Vehicle Loan
a) Four Wheelers
It has been agreed to enhance the maximum amount of vehicle loan to Officers as follows:
Category Existing Amount Enhanced Amount
Scale I Rs 7.50 Lakh Rs 8.50 Lakh
Officers in Scale II & III Rs 9.50 Lakh Rs 11.00 Lakh

b) Two Wheelers
The amount of loan for purchase of two wheelers has also been increased to Rs 1.25 Lakh from
the existing limit of Rs 1.00 Lakh.
All other terms & conditions will continue to be in force
23. Personal Loan
It has been agreed to enhance the maximum amount of personal loan to Officers to Rs.9.00 Lakh
from the existing amount of Rs 8.00 Lakh, subject to other applicable norms.

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24. Demand Loan
It has been agreed to enhance the maximum amount of demand loan to Officers to Rs. 3.00 Lakh
from the existing amount of Rs 2.25 Lakh, subject to other applicable norms.
25. Officers’ Furniture Advance
It has been agreed to enhance the amount of Officers’ Furniture Advance as follows, subject to
other applicable stipulations.
Category Existing Amount Enhanced Amount
Officers in Scale I Rs 1.50 Lakh Rs 1.90 Lakh
Officers in Scale II & III Rs 1.80 Lakh Rs 2.20 Lakh

All other terms & conditions will continue to be in force.

26. Festival Advance to Officers
Representatives of the Management agreed to enhance Festival Advance to Officers up to an
amount equivalent to one month Basic Pay + DA + Special Allowance, subject to a maximum of
Rs 0.80 Lakh from the existing amount of Rs 0.60 Lakh .All other existing terms and conditions
continue to be in force.
27. Transfer Discomfort Loan
It has been agreed to enhance the amount of Transfer Discomfort Loan to Rs 2.00 Lakh from the
existing Rs 1.50 Lakh. All other existing terms and conditions will continue to be in force.
28. Vehicle Repair Loan
It has been agreed to increase the vehicle repair loan limit to Rs 0.70 Lakh from the existing
amount of Rs 0.60 Lakh. All other terms and conditions continue to be in force.
29. Gold Loan
It has been agreed to increase the Gold loan limit to Rs 5.50 Lakh from the existing amount of Rs
4.00 Lakh. All other terms and conditions continue to be in force.
30. Special Purpose (Marriage) Loan
It has been agreed that Special Purpose (Marriage) Loan will be extended to Officers for the
purpose of the marriage of their sons as well, subject to norms which will be published separately.
31. Computer Loan
It has been agreed to enhance the amount of Computer Loan to Rs 0.90 Lakh from the existing
amount of Rs 0.80 Lakh. All other existing terms and conditions will continue to be in force.
32. Rate of interest
Representatives of the Management agreed to revise the rate of interest applicable to the following
loans.
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a) Federal Career Solutions/Federal Vidya Loans availed by children of Officers.
Loan Amount Existing Interest Rate Revised Interest Rate
For Loans upto Rs 4.00 Lakh 7.5% compounding 7 % compounding
For Loans above Rs 4.00 Lakh 8% compounding 7.5 % compounding

b) Other loans
Type of loan Existing Interest Rate Revised Interest Rate
Gold loan 8.75% compounding 8.25 % compounding
Personal/Demand loan 8.75 % compounding 8.50 % compounding
Transfer discomfort loan 9.50% compounding 9.25% compounding

(c) Special Vidya Loan

The rate of interest applicable on all loans to be sanctioned under Special Vidya Loan Scheme
w.e.f. 01.07.2019 shall be fixed @9.75%. Those who have availed the loan prior to 01.07.2019
shall have the option to switch over to Fixed Rate of Interest. Employees who are desirous of
retaining the existing rate of interest shall also be permitted to retain the same rate from 01.07.2019
onwards. In such cases, the prevailing Floating Rate will be converted to Fixed Rate and that
rate of interest will continue till the residual period of the loan. Other norms will be published
separately.
33. With regard to the demand of FBOA to increase the repayment period of Housing Loan upto
75 years of age, representatives of Management expressed difficulty to consider the same.
34. The demands of FBOA for improvement of the amount for Retirement function/Memento/
refreshment etc, implementation of one more mile stone award after 30 years of service and to
enhance Hotel Accommodation eligibility of Officers’ on official duty would be examined at a
later date.
35. To the demand of FBOA for recruitment of adequate number of additional Officers on a
continuous basis to solve the issue of staff shortage, Management conveyed that recruitment of
officers has been taking place as per requirement/ assessment of man-power.
36. Regarding other demands of the Association like introduction of lunch allowance, providing
curtains, providing mobile phones to all confirmed Officers, reimbursement of electricity charges,
internet charges, Association membership to Scale IV Officers, releasing the amount receivable
from the EPF as the case is inordinately delayed, one-time promotion to Officers who have not
got a promotion in their whole service, extension of Foreign LTC to Scale I and its improvement,
reducing the age limit for medical check-up, to rectify the practical anomaly in the OSR clause of
fixation of HRA applicable in the place of work or stay ‘whichever is lower’ as ‘whichever is

13
higher’, to enhance the allowance of Officers on shift duty etc., representatives of the Management
expressed difficulties to consider them at this stage.
37. To the demand of FBOA to release the offered amount and interest to FMSB channel
Officers Management conveyed that the process, as per the terms of offer letter, is underway.
38. With regard to the demand of FBOA for the release of the due interest portion on the
pension arrears of pre-2002 retirees, with due commutation amount, Management maintained
that the arrears of differential amount of pension had already been paid, as a gesture of goodwill.
39. It is distinctly understood by both the parties that the benefits/allowances in terms of this
agreement will depend on the growth and sustained performance of the Bank, like achieving
business targets, RoA, avoiding compliance breach etc. and management seeks wholehearted
co-operation of Association and its members for the total growth of the Bank in tune with the
corporate budget/plan.
40. Representatives of the Association agreed to continue to extend full co-operation to improve
efficiency, business growth, revenue growth, productivity, customer service and work for the
overall growth and development of the Bank and to maintain harmonious industrial relations.
41. Unless otherwise specified, the existing terms and conditions of various schemes in which
modifications/changes are now being effected by this agreement, shall continue to be the same.
42. It is agreed between the parties that a fresh charter of demands on the items on which an
understanding has been arrived at as herein above will be submitted only after completion of 2
years from the date of this agreement.
The improvements in the monthly allowances as agreed upon herein above will come into force
with effect from 01/06/2019, and other improvements will be effective from 01/07/2019.
Signed this on the 27th day of June, 2019, Aluva
Representatives of the Management Representatives of Federal Bank Officers’ Association
1. Ajith Kumar K K (Sd/-) 1. Jenib J Kachapilly (Sd/-) 8. Nisha S Variyar (Sd/-)
2. Thomas M A (Sd/-) 2. Paul Mundadan (Sd/-) 9. Shimith P R (Sd/-)
3. John P J (Sd/-) 3. Velappan Unni S (Sd/-) 10. More Vikas Vishnu (Sd/-)
4. Shiju K V (Sd/-) 4. Abdul Nazar M P (Sd/-) 11. Sachin Jacob Paul (Sd/-)
5. Sudheesh Kumar M (Sd/-) 5. Rajkamal D (Sd/-) 12. Dhanesh Jose (Sd/-)
6. Sasi P R (Sd/-) 13. Rajesh N (Sd/-)
7. Manu C S (Sd/-)

Management has also agreed to provide to our retired officers the facility to avail Personal
Loan of Rs. 2 Lacs for a tenure of 4 years
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