SBI orders recovery of overtime pay from staff of associates bank paid as ‘compensation’ for working overtime during note ban. State Bank of India insisted that the compensation was only for SBI staffs and not intended for associate bank.
The 70,000 officers and employees of associates or e-Abs banks i.e. State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur got the compensation but now they are being asked to “return the compensation for extra work”. These all merged with the SBI on April 1, 2017.
SBI claims that the compensation paid to these staffs were period prior to the merger of e-Abs or Associate Banks and should have been dealt by e-Abs at the time before merger itself . SBI insisted that they don’t have any record of commitment to pay the same.
Amount of Compensation
Employees were paid compensation for working beyond 7 pm during the demonetisation period between November 14 and December 30, 2016.
The compensation was different for each circle:
For officers it was as much as ₹30,000, and for clerical and other staff ₹17,000. The amount was paid as ‘Out of Pocket expense’ between March and May.