Punjab & Sind Bank (Officers) Service (Amendment) Regulations, 2024

[26th November 2024]

PREAMBLE

In exercise of the powers conferred by section 19, read with subsection (2) of section 12 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Board of Directors of the Punjab & Sind Bank, after consultation with the Reserve Bank of India and with the previous sanction of the Central Government, except as respects things done or omitted to be done in pursuance of the Government of India, Ministry of Finance, Department of Financial Services letter No. 4/2/2/2015-IR, dated 18th December, 2020, on and from the 1st November, 2017, till the date of publication of this notification in the Official Gazette, hereby makes the following regulations further to amend the Punjab & Sind Bank (Officers') Service Regulations, 1982, namely:-

Regulation 1.

(1)     These regulations may be called the Punjab & Sind Bank (Officers) Service (Amendment) Regulations, 2024.

(2)     They shall come into force on the date of their publication in the Official Gazette.

Regulation 2.

In the Punjab & Sind Bank (Officers) Service Regulations, 1982 (hereinafter referred to as the said regulations), in regulation 3, for clause (g) and (j), the following clauses shall be substituted, namely:-

"(g) family for the purposes of medical facilities and for the purpose of leave fare concession means, the spouse of the officer, wholly dependent unmarried children (including step children and legally adopted children) wholly dependent physically and mentally challenged brother or sister with forty per cent. or more disability, widowed daughters and dependent divorced or separated daughters, sisters including unmarried or divorced or abandoned or separated from husband or widowed sisters and parents wholly dependent on the officer.

Explanation.-

(i)       The expression "wholly dependent family member" shall mean such member of the family having an income not exceeding ?12,000/- per month. If the income of one of the parents exceeds ?12,000/- per month or the aggregate income of both the parents exceeds ?12,000/- per month, both the parents shall not be considered as wholly dependent on the officer.

(ii)      A married female officer may include her natural parents or parents-in-law under the definition of family, but not both, provided that the parents or parents-in-law are wholly dependent on her.

Note 1: For the purpose of medical expenses reimbursement scheme, for all officers, i.e., male or female, any two of the dependent parents or parents-in-law shall be covered. The officer will have the choice to substitute either of the dependents or both.

Note 2: Physically challenged children of an officer to be defined as dependents irrespective of age or marital status, subject to income criteria;

(j)    Managing Director means the Managing Director and the Chief Executive Officer of the Bank;".

Regulation 3.

In regulation 4 of the said regulations,-

(i)       in sub-regulation (6), the Explanation shall be omitted;

(ii)      for sub-regulation (7), the following sub-regulations shall be substituted namely:-

"(7) With effect from the 1st November, 2017, the scales of pay specified against each grade shall be as under:-

(a)      Top Executive Grade

Scale VII = ?116120 - 3220/4 - 129000

Scale VI = 104240- 2970/4 - 116120

(b)      Senior Management Grade

Scale V = ?89890 - 2500/2 - 94890 - 2730/2 - 100350

Scale IV = ?76010 - 2220/4 - 84890- 2500/2 - 89890

(c)      Middle Management Grade

Scale III = 63840-1990/5- 73790 - 2220/2 - 78230

Scale II = 48170-1740/1 - 49910 -1990/10 - 69810

(d)      Junior Management Grade

Scale I = ?36000-1490/7- 46430-1740/2-49910-1990/7-63840.

Explanation.- Every officer who is governed by the scales of pay as in force as on 31st October, 2017 shall be fitted in the scale of pay set out as in this sub-regulation as on 1st November, 2017 on stage-to-stage basis, i.e., on corresponding stages from first stage onwards in the respective scales and the increments shall fall on the anniversary date as usual except where provided otherwise.

(iii)     after sub-regulation (7), the following sub-regulations shall be inserted, namely:-

(8)   Nothing in sub-regulations (1), (2), (3), (4), (5), (6), and (7) shall be construed as requiring the Bank to have at all times, officers serving in all these grades.

(9)   (a) With effect from the 1st day of November, 2012, officers shall be paid special allowances as under:-

Scale I - III - 7.75 % of Basic Pay plus applicable Dearness Allowance thereon

Scale IV - V - 10% of Basic Pay plus applicable Dearness Allowance thereon

Scale VI - VII - 11 % of Basic Pay plus applicable Dearness Allowance thereon.

(b) With effect from the 1st day of November, 2017, officers shall be paid special allowances as under:

Scale I - III - 16.40 % of Basic Pay plus applicable Dearness Allowance thereon

Scale IV - V - 19 % of Basic Pay plus applicable Dearness Allowance thereon

Scale VI - VII - 20 % of Basic Pay plus applicable Dearness Allowance thereon:

Note: The special allowance referred to in clause (a) and (b) of sub regulation 10 with applicable dearness allowance thereon shall not be reckoned for superannuation benefits, such as pension including New Pension Scheme, Provident Fund and Gratuity.".

Regulation 4.

In regulation 5 of the said regulations,-

(i)       for sub-regulation (1), the following sub-regulation shall be substituted, namely: -

"(1) Subject to the provisions of sub-regulations (7) of regulation 4, on and from the 1st November, 2017, the increments shall be granted subject to the following, namely: -

(a)      the increments specified in the scales of pay set out in sub-regulations (7) of regulation 4 shall, subject to the sanction of the Competent Authority, accrue on an annual basis and shall be granted on the first day of the month in which these fall due;

(b)      one year after reaching maximum in their respective scales, officers in Scale I and Scale II, shall be granted further increments including stagnation increments in the next higher Scale only as specified in clause (c) below subject to their crossing the efficiency bar;

(c)      officers in junior management grade scale I who have moved to scale of pay for middle management grade scale II in terms of clause (b) after reaching maximum of the higher Scale, shall be eligible for five stagnation increments for every two completed years of service of which the first two shall be Rs. 1990/- each and the next three of Rs 2220/- each:

Provided that the officer shall be eligible for the fifth stagnation increment two years after release of fourth stagnation increment or on the 1st November, 2017, whichever is later;

(d)      officers in middle management grade scale II who have moved to scale of pay for middle management grade scale III in terms of clause (b), after reaching maximum of higher Scale, shall be eligible for five stagnation increments of Rs 2220/- each for every two completed years of service:

Provided that the officer shall be eligible for the fifth stagnation increment two years after release of fourth stagnation increment or on the 1st November, 2017, whichever is later;

(e)      officers in substantive middle management grade scale III i.e., those who are recruited in or promoted to middle management grade scale III shall be eligible for six stagnation increments out of which first four stagnation increments of Rs 2220/- each will be granted for every two years of completed service after reaching the maximum and the next two stagnation increments of Rs 2500/- each shall be granted for every two years of completed service after receiving the fourth stagnation increment:

Provided that the sixth stagnation increment shall be released two years after release of fifth stagnation increment or on the 1st November, 2017, whichever is later;

(f)       officers in senior manager grade scale IV shall be eligible for two stagnation increments after reaching the maximum of scale, for every two completed years of service, of which first stagnation increment shall be of Rs 2500/- and the second stagnation increment shall be of Rs 2730/-:

Provided that the officer shall be eligible for the second stagnation increment two years after release of first stagnation increment or on the 1st November 2017, whichever is later;

(g)      the stagnation increments received by the officers from Scale I to Scale IV during their service in bank as on the 1st November, 2017 as per periodicity hereinbefore would be readjusted from three years periodicity to two years periodicity from the date of reaching their maximum and officer shall be notionally eligible for stagnation increments w.e.f the 1st November, 2017 as per the revised periodicity which will qualify for superannuation benefits. However, monetary benefit on account of such revised and readjusted periodicity of stagnation increments shall be payable from the 1st November, 2020 or the actual date of entitlement, whichever is later;

(h)     officer in senior management grade scale V shall be eligible for one stagnation increment of Rs 2970/- two years after reaching the maximum scale of pay or on the 1st November 2020, whichever is later:

Provided that such increments shall not be allowed to an officer who refuses promotion when offered.

Explanation.- Grant of such increments in the next higher scale under this sub-regulation shall not amount to promotion and the privileges, perquisites, duties and responsibilities of the officers shall continue as of their substantive posts.";

(ii)      in sub-regulation (2), in the Explanation, after clause (g) and before the Note, the following clause shall be inserted, namely:-

"(h)  On and from the 1st November, 2017, other things being equal, the quantum of professional qualification pay shall stand revised as specified in the Table below:-

TABLE

Provided that an officer acquiring Junior Associate of Indian Institute of Bankers or Certified Associate of Indian Institute of Bankers (either or both parts) qualifications after reaching the maximum of the scale of pay, shall be granted from the date of acquiring such qualification the first installment of professional qualification pay and the release of subsequent installments of professional qualification pay shall be with reference to the date of release of first installment of such professional qualification pay.";

(iii)     in sub-regulation (3),-

(a)      in clause (f), after the Table, Notes (i) to (vi) shall be omitted;

(b)      after clause (f), the following clauses shall be inserted, namely:-

"(g)  on and from the 1st November, 2017, other things being equal, fixed personal pay together with house rent allowance shall be at the following rates and shall remain frozen for the entire period of service:-

TABLE

Note:

(i)       Fixed Personal Allowance or Fixed Personal Pay as indicated under column (3) of the Tables in clauses (b), (c), (d), (e), (f) and (g) of this sub-regulation shall be payable to those officers who are provided with banks accommodation.

(ii)      Fixed Personal Allowance or Fixed Personal Pay for officers eligible for House Rent Allowance shall be the aggregate amount specified under columns (1) and (2) of the aforesaid Table and House Rent Allowance drawn by the concerned officer when the last increment of the relevant scale of pay as specified in sub-regulations (2),(3), (4), (5) (6) and (7) of regulation 4 is earned.

(iii)     Only officers who are in the service of the Bank on or before 1st November, 1993, will be eligible for Fixed Personal Pay one year after reaching the maximum scale pay, they are placed.

(iv)    On and from the 1st November 1999, there shall be no change in the schedule of release of Professional Qualification Pay as in explanation (c) of sub-regulation (2) on account of release of Fixed Personal Pay:

Provided that where any installment of professional qualification pay which on account of the earlier provisions has been shifted by a year and is scheduled for release on or after the 1st November, 1999, it shall be released to the officer on and from this date and second installment of professional qualification pay, if any, shall be released on the 1st November, 2000.

(v)      The increment component of Fixed Personal Allowance or Fixed Personal Pay shall rank for superannuation benefits.

(vi)    An officer who has earned the advance increment as in clause (a) above shall draw the quantum of Fixed Personal Allowance or Fixed Personal Pay as mentioned in clauses (b), (c), (d), (e), and (f) above, one year after reaching the maximum of the scale.

Regulation 5.

In regulation 20 of the said regulations, in sub-regulation (1), in clause (C), the words "Chairman and" shall be omitted.

Regulation 6.

In regulation 21 of the said regulations,-

(a)      in sub-regulation (6), in the Explanation in clause (b), for the brackets, letters and words "(f) and (g)", the brackets, letters and words "(f), (g) and (h)" shall be substituted.

(b)      after sub-regulation (6), the following sub-regulation shall be inserted, namely:-

"(7)  On and from the 1st day of November, 2017, dearness allowance shall be payable for every rise or fall of four points over 6352 points in the quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100 at 0.07% of Pay.".

Regulation 7.

In regulation 22 of the said regulation, for sub-regulation (1), the following sub-regulation shall be substituted, namely:-

"(1) On and from the 1st November, 2017, -

(a)      where an officer is provided with residential accommodation by the Bank, a sum equal to 0.50 per cent. of the basic pay in the first stage of the scale of pay in which he is placed or the standard rent for the accommodation, whichever is less, shall be recovered from him;

(b)      where an officer is not provided any residential accommodation by the Bank, he shall be eligible for House Rent Allowance at the rates specified in the following Table, namely:-

TABLE

Provided that if an officer produces a rent receipt, the House Rent Allowance payable to him shall be the actual rent paid by him for the residential accommodation in excess over 0.50 per cent. of pay in the first stage of the scale of pay in which he is placed with a maximum of 150 per cent. of the House Rent Allowance payable as per aforesaid rates mentioned in column (2) of the above Table.

Note: The claims of officers for House Rent Allowance linked to the cost of their ownership accommodation shall be also be restricted to 150 per cent. of House Rent Allowance as hitherto.".

Regulation 8.

In regulation 23 of the said regulations.-

(a)      for sub-regulations (1), (2), (3), (4) and (5), the following sub-regulations shall respectively be substituted, namely:-

"(1) On and from the 1st November, 2017, if an officer is serving in a place mentioned in column (1) of the Table below, a city compensatory allowance at the rate mentioned in column (2) thereof against that place shall be payable:

TABLE

(2)   On and from the 1st November, 2017, the rates of special areas allowances shall be as specified in the Schedule to these regulations.

(3)   On and from the 1st November, 2017, if an officer is serving in an area specified as Project Area falling in Group A or Group B, he shall be eligible for a Project Area Compensatory Allowance at the rate of Rs. 600/- per month or Rs. 525/- per month according to the classification of area as Group A or Group B respectively.

(4)   On and from the 1st November, 2020, if an officer is transferred from one place to another in the midst of an academic year and if he has one or more children studying in school or college, in the former place, he shall be eligible for a mid-academic year transfer allowance of Rs. 1650/- per month from the date he reports to the latter place upto the end of the academic year in respect of all the children, provided that such allowance shall cease if all the children cease studying at the former place.

(5)   On and from the 1st November, 2020, if an officer is deputed to serve outside the Bank, he may opt to receive the emoluments attached to the post to which he is deputed, or he may in addition to his pay, draw a deputation allowance at the rate of 7.75 per cent of pay subject to a maximum of Rs. 6000/- per month and such other allowances he would have drawn had he been posted in the Banks service at that place:

Provided that where he is deputed to an organisation which is located at the same place where he was posted immediately prior to his deputation, he shall receive a deputation allowance equal to 4 per cent. of his pay subject to a maximum of Rs. 3000/- per month:

Provided further that an officer on deputation to the training establishment of the Bank as a faculty member shall be eligible for deputation allowance at the rate of 4 per cent. of his pay subject to a maximum of Rs.3000 per month.";

(b)      for sub-regulation (8), the following sub-regulation shall be substituted, namely:-

"(8) On and from the 1st November, 2017, if the working hours during a day are split with minimum interval of two hours, an officer shall be eligible for a Split Duty Allowance at the rate of Rs.300 per month.";

(c)      for sub-regulation (10), the following sub-regulation shall be substituted, namely:-

"(10) On and from 1st November, 2017, an officer shall be eligible for the hill and fuel allowance as specified in The table below, namely:-

TABLE

(d)      after sub-regulation (10), the following sub-regulations shall be inserted, namely:-

"(11) On and from the 1st November, 2017, an officer shall be eligible for learning allowance of Rs 600/- per month along with Dearness Allowance thereon.

(12)  On and from the 1st November, 2017, an officer shall be eligible for a fixed allowance of Rs.700/- p.m. who are posted in areas other than the areas that are eligible for City Compensatory Allowance. This fixed allowance shall not be reckoned for payment of Dearness Allowance, superannuation benefits viz. pension including National Pension Scheme, Provident Fund and Gratuity.

(13)  From the financial year 2020-21, Performance Linked Incentive shall be payable to all officers annually based on Operating Profit or Net Profit over and above the normal salary payable. The Performance Linked Incentive matrix mentioned below shall decide the amount payable (in number of days of pay = Basic + Dearness Allowance) depending on the annual performance of the Bank:

Regulation 9.

In regulation 24 of the said regulations, for sub-regulation (1), the following sub-regulation shall be substituted, namely:-

"(1) On and from the 1st November, 2017, an officer shall be eligible for reimbursement of medical expenses for self and family on the strength of the officers own certificate of having incurred such expenditure supported by a statement of accounts for the amounts claimed as specified in the Table below, namely:-

TABLE

Note: (i) an officer may be allowed to accumulate unavailed medical aid so as not to exceed at any time three times the maximum amount provided above; or

(ii) for the year 2017, the reimbursement of medical expenses under the medical aid scheme shall be enhanced proportionately for two months, that is, November, 2017 and December, 2017.".

Regulation 10.

In regulation 25 of the said regulations, for sub-regulation (2), the following sub-regulation shall be substituted, namely:-

"(2)  Notwithstanding anything contained in sub-regulation (1), it shall be open to the Bank to provide residential accommodation to an officer on payment by the officer, on and from the 1st day of November, 2017, a sum equal to 0.50 per cent. of the basic pay in the first stage of the scale of pay in which he is placed or the standard rent for the accommodation, whichever is less:

Provided that where the officer is provided with furniture at such residence, a further sum equal to 0.10 per cent. of basic pay in the first stage of the scale of pay in which he is placed shall be recovered by the Bank from him:

Provided further that, where such residential accommodation is provided by the bank, the charges for electricity, water, gas and conservancy shall be borne by the officer.".

Regulation 11.

In regulation 32 of the said regulations, in sub-regulation (2), after the proviso, the following Explanation shall be inserted, namely:-

Explanation.- for the purpose of this regulations, it is clarified that-

(a)      casual leave not availed in the year 2017 or any subsequent years shall lapse in the following five year;

(b)      on and from the 1st November, 2020, the unavailed casual leave by the officer shall be permitted on medical grounds and no medical certificate is required for the period of such unavailed casual leave at a stretch not exceeding four days.".

Regulation 12.

In regulation 33 of the said regulations,-

(a)      for sub-regulations (4) and (5), the following sub-regulations shall be substituted, namely:-

"(4)  On and from 1st June, 2015, privilege leave may be accumulated upto not more than two hundred and seventy days except where leave has been applied and it has been refused:

Provided that encashment of privilege leave shall be restricted upto a maximum of two hundred and forty days:

Provided further that from the calendar year, 2020, an officer shall also be eligible for encashment of privilege leave at the rate of five days for each calendar year at the time of any festival of his choice and an officer who have already completed fifty-five years of age as on the 1st January, 2020 and above shall be eligible to encash privilege leave at the rate of seven days for each calendar year till his retirement as a onetime measure.";

(5)   An officer desiring to avail of privilege leave shall ordinarily give not less than ten days notice of his intention of avail of such leave except for the purpose of leave fare concession;

(b)      after sub-regulation (5), the following sub-regulation shall be inserted, namely: -

"(6)  Privilege leave taken on sick grounds, when there is no credit in the sick leave account of the officer, shall not be counted as an occasion of availing privilege leave.".

Regulation 13.

In regulation 34 of the said regulations, after sub-regulation (4), the following sub-regulations shall be inserted, namely:-

"(5) Women officers may avail sick leave for the sickness of their children of eight years and below subject to production of medical certificate.".

Regulation 14.

for regulation 35 of the said regulations, the following regulation shall be substituted, namely:-

"35. Additional Sick Leave.-

(1)     On and from 1st January, 1989, where an officer has put in a service of twenty-four years, he shall be eligible to additional sick leave at the rate of one month for each year of service in excess of twenty-four years subject to a maximum of three months of additional sick leave.

(2)     On and from the 01st January, 2017, where an officer has put in a service of thirty years, he shall be eligible for further additional sick leave at the rate of one month for each year of service in excess of thirty years subject to a maximum of three months of additional sick leave:

Provided that the total number of sick leaves shall not exceed seven hundred and twenty days in the entire service of the officer:

Provided further that in case of additional sick leaves availed on or after the 29th June, 1999, commutation of additional leave may be allowed in accordance with sub-regulation (2) of regulation 34.".

Regulation 15.

for regulation 36, of the said regulations, the following regulation shall be substituted, namely:-

"36 Maternity leave.-

(1)     In case of maternity leave,-

(a)      a female employee shall be eligible for maternity leave on substantive pay for a period not exceeding six months on any one occasion and twelve months during the entire period of her service:

Provided that in case of delivery of twins, the period of maternity leave shall be eight months:

Provided further that maternity leave may be availed combining with any other kind of leave except casual leave;

(b)      in case of miscarriage, medical termination of pregnancy or abortion, a female employee may avail maternity leave upto six weeks on the basis of medical certificate or advice of a competent medical practitioner, i.e., a qualified gynecologist. In special or exceptional cases involving medical complications, associated with miscarriage or medical termination of pregnancy or abortion, maternity leave may be availed beyond six weeks, if advised by a competent medical practitioner (qualified gynaecologist) but upto six months only on any one occasion, within the overall limit of twelve months during the entire period of service;

(c)      within the overall period of twelve months, leave may also be availed in case of hysterectomy upto a maximum of sixty days.

Note: In the case of employees who have availed and exhausted maternity leave of twelve months, leave of fifteen days shall be sanctioned over and above the same, subject to production of medical certificate;

(d)      a childless female employee may avail leave once during service for legally adopting a child who is below one year of age, for a maximum period of nine months, subject to the following terms and conditions, namely:-

(i)       leave will be granted for adoption of only one child;

(ii)      the adoption of a child should be through a proper legal process and the employee should produce the adoption-deed to the Bank for sanctioning such leave;

(iii)     the permanent part-time employees are also eligible for grant of leave for adoption of a child;

(iv)    the leave shall also be available to biological mother in cases where the child is born through surrogacy;

(v)      the leave shall be availed within overall entitlement of twelve months during the entire period of service;

(vi)    Within the overall period of twelve months, leave may also be availed in case of hospitalisation on account of the following gynecological ailments or treatments upto a maximum of thirty days, namely:-

(vii)   AUB (Abnormal uterine bleeding);

(viii)  Ovarian Tumor;

(ix)    Tubectomy or Tubectomy reversal;

(x)      Post-Partum Depression (PPD);

(xi)    Post-Partum Hemorrhage (PPH);

(xii)   Acute Pelvic Inflammatory Disease (Acute PID); and

(xiii)  Dysfunction Uterine Bleeding; Dysfunction (DUB).

(2)     In case of paternity Leave, with effect from the 1st June, 2015, male employees with upto two surviving children shall be eligible for fifteen days paternity leave during his wifes confinement and this leave may be combined with any other kind of leave except casual leave:

Provided that the leave may be availed upto fifteen days before or upto six months from the date of delivery of the child:

Provided further that paternity leave as above shall be allowed to a male employee with upto two surviving children for legally adopting a child who is below one year of age.".

Regulation 16.

for regulation 37 of the said regulations, the following shall be substituted, namely:-

"37. Extra-ordinary leave.-

(1)     An officer shall be eligible for extraordinary leave on loss of pay for not more than twenty-four months during the entire period of service.

(2)     An officer may avail extraordinary leave on any one occasion for a period not exceeding three months and in extreme medical circumstances, he may avail extraordinary leave upto four months on any one occasion.

Note: The employee will not be losing any seniority on account of availing extraordinary leave on medical grounds.".

Regulation 17.

for regulation 37A of the said regulations, the following regulation shall be substituted, namely:-

"37A. Special Casual Leave and Special Leave.-

(1)     With effect from the 1st November, 2020, an officer employee shall be eligible for special casual leave on occasions when the branch where the officer is working or the place where he is residing is affected by curfew, riots, prohibitory orders, natural calamities, floods, etc.

(2)     With effect from the 1st November, 2020, a physically or orthopedically handicapped officer shall be eligible for four days special casual leave.

(3)     An officer may also be granted special casual leave and any special leave as may be decided by the Board in accordance with the guidelines issued by the Central Government from time to time.".

Regulation 18.

In regulation 41 of the said regulations, in sub-regulation (4), for clause (a), the following clause shall be substituted, namely:-

"(a)  Halting Allowance - On and from the 1st November 2020, an officer in the grades or scales set out in column (1) of the Table shall be entitled to per diem halting allowance at the corresponding rates set out in column (2) thereof, namely:-

TABLE

Provided that where the total period of absence is less than eight hours but more than four hours, halting allowance at half the above rates shall be payable.

Explanation.- For the purpose of computing halting allowance "per diem" shall mean each period of twenty-four hours or any subsequent part thereof, reckoned from the reporting time for departure in the case of air travel and the scheduled time of departure in other cases, to the actual time of arrival and where the total period of absence is less than twenty-four hours, "per diem" shall mean a period of not less than eight hours.".

Regulation 19.

In regulation 42 of the said regulations, for sub-regulation (3), the following sub-regulation shall be substituted, namely:-

"(3) On and from the 1st November, 2020 an officer on transfer shall be eligible to draw a lump sum amount for expenses connected with packing, local transportation, insuring the baggage, etc., as specified in the Table below, namely:-

TABLE

Regulation 20.

In regulation 45 of the said regulations, after sub-regulation (4), before the note, the following provisos shall be inserted, namely:-

"Provided that with regard to officers covered under Defined Contributory Pension Scheme (New Pension Scheme), the Bank shall make a contribution of fourteen per cent. of pay plus dearness allowance with effect from the 11th November, 2020:

Provided further that the service charges of the Service Provider or Fund Manager of New Pension Scheme shall be borne by the Bank from the financial year 2020-21.".

Regulation 21.

For the Schedule to the said regulations, the following Schedule shall be substituted, namely:-

"Schedule

[See sub-regulation (2) of regulation 23]

With effect from the 1stday of November, 2017, an officer shall be eligible for the special areas allowances till such time they are withdrawn or modified either wholly or partially, as specified in the Table below, namely:

TABLE

Special Area Allowance