Housing Term Loan:
In view of the increase in cost of construction of house and flats, we need to have a
comprehensive review of House Building Advance to officers by suitably
enhancing the limit to Rs.1 core at Simple rate of interest without any slab,which
can be repaidup to the age of 75.
In this regard, the rate of interest has been hovering around Nil to 8 percent in
different banks. The first concessional rates of interest on housing term loans for
staff was introduced way back in 1967 with Nil interest. In 1979, the amount was
increased to Rs.1,10,000/- at the rate of 5% simple interest. The rate was around
8% less than the rate of interest charged to public housing term loans, which was
prevailing at 13%. Hence, the spread was 8 percent
However, the spread has been given a go by and different banks are charging at
different rate of interest. Housing Term Loan is a welfare measure providing
shelter to the family members of the employee. Hence, the rate of interest should
be maintained at the same spread as was obtaining in 1979, as otherwise, due to
the steep increase in the cost of land and construction, the employee would be
finding it difficult to service the loan.
The Conveyance Loan has not been revised for long, we need to enhance the Car
Loan limit to Rs.15 Lacs and Two Wheeler Loan limit to Rs.1 lac at Simple rate of
interest without any slab. The repayment of the above loans should be extended
upto 75 years of age.
Review of all loans and advances and make same rules in all banks.
ROAD TAX ON VEHICLES:
In view of All India transferability of officers, the Road tax on vehicles of different
States should be paid by the bank on inter-state transfers.
DATE OF RETIREMENT:
st Those who were born on the 1 of a month to be retired on the last day of the same
month, and not the previous month.
PROTECTION OF EMOLUMENTS:
The emoluments drawn by an Officer should be protected on his transfer from
one place to another.
TRANSPORTATION OF PERSONAL BELONGINGS:
The Banks should take the responsibility for shifting the personal effects of the
officers on transfer from one place to another. In the absence of such facility, the
Officers should be reimbursed the full expenditure on certificate basis.
INCIDENTAL EXPENDITURE ON TRANSFER:
To meet additional expenditure towards education of children, housing etc.,
officers should be paid two months’ salary to compensate incidental expenses on
transfer. In case of transfer outside the State, 3 months’ salary should be paid
towards incidental expenses. In case of transfers to far off centers and the places
of inclement weather and living conditions, there has to be high compensation as
incidental expenditure on transfer.
OTHER ALLOWANCES SUCH AS HILL AND FUEL ETC.
All the allowances other than what have been covered in the earlier chapters
should be enhanced appropriately.
As cost of Education has increased a lot Education Allowance to be introduced for
school education and higher education similar to that existing in Govt / PSUs /
AREAS DECLARED AS SEZ/NEZ/EPZ:
The branches coming under the above areas should be treated on par with Metro
Centres for all allowances and perquisites.
SPECIAL ALLOWANCE TO NORTH EAST, SIKKIM J & K , ANDAMAN AND
OTHER DISTURBED AREAS / NAXAL PRONE AREAS:
Special allowance as prevailing in Central Government/RBI for Officers serving in
these areas including locals should be extended to Bank Officers.
Housing Term Loan: