Cabinet approved 3% Dearness Allowance hike for Central Govt Employees, Pensioners from July 2024
In a festival bonanza, the central government on Wednesday announced a 3 per cent hike in dearness allowance (DA) for central government employees and dearness relief (DR) for pensioners, with effect from July 1, 2024, announced Union Information & Broadcasting Minister Ashwini Vaishnaw. After the latest decision, the DA has been increased from 50% to 53%.
Briefing about the Cabinet decision today, Union Information & Broadcasting Minister Ashwini Vaishnaw said, “It will have a financial implication of Rs 9,448 crore for central exchequer.”
The government has also increased dearness relief (DR) by 3 per cent for pensioners. DA is given to government employees, while DR is given to pensioners. DA and DR are hiked twice a year, with effect from January and July.
As the festive season approaches, Punjab National Bank (PNB) has announced an exciting initiative to spread joy among its employees this Diwali. The bank will be gifting each of its employees a delightful package worth ₹2,000, doubling the amount from last year, which was ₹1,000
A Festive Gesture
This generous gesture is in line with PNB’s commitment to fostering a positive work environment and recognizing the hard work and dedication of its employees. The gifts, which typically include sweets and other festive goodies, are a way for the bank to express gratitude to its staff, especially during the festival of lights, a time celebrated with joy and togetherness.
Strengthening Employee Morale
By increasing the gift amount this year, PNB aims to boost employee morale and enhance their festive spirit. The additional amount allows for a more varied selection of treats, ensuring that each employee can enjoy a special Diwali celebration with their family and friends.
Celebrating Togetherness
Diwali is a time for celebration, reflection, and gratitude. PNB’s thoughtful initiative not only enhances the festive experience for employees but also strengthens the bond within the organization. It is a reminder of the bank’s appreciation for its workforce and their contributions to the institution’s success.
Conclusion
As Punjab National Bank prepares to celebrate Diwali with its employees, the increase in the gift amount reflects a deep commitment to fostering a supportive and joyous work environment. This gesture not only enhances the festive spirit but also serves as a testament to the bank’s dedication to its employees’ well-being. Wishing all PNB employees a happy and prosperous Diwali!
The central government is planning to merge two rural banks in Bihar: North Bihar Gramin Bank and South Bihar Gramin Bank. This announcement is expected before March 2025, as part of efforts to restructure banks. The Union Finance Ministry is currently making preparations for this change.
Both banks together provide essential banking services to over 39,000 villages across Bihar. Once merged, they will operate as a single rural bank at the state level, making it easier for people in rural areas to access banking services.
This merger follows the previous integration of Central Bihar Gramin Bank and Bihar Gramin Bank, which created South Bihar Gramin Bank on January 1, 2019. South Bihar Gramin Bank is now the largest rural bank in India, with its headquarters in Patna. North Bihar Gramin Bank is based in Muzaffarpur. The new name and headquarters for the merged bank have not yet been decided.
By joining forces, the two banks will expand their reach across the entire state of Bihar. This merger is expected to improve the efficiency of the bank and speed up the implementation of various government schemes at the panchayat level. It will help deliver direct benefits to local communities and make it easier for people to get loans for employment.
The merger will help manage rural banking better across Bihar, improving business and the bank’s credit-deposit ratio. Since about 85% of Bihar’s population lives in rural areas, this merger is seen as a positive step for the rural economy.
Currently, North Bihar Gramin Bank operates 1,027 branches, while South Bihar Gramin Bank has 1,078 branches. North Bihar Gramin Bank has 2.5 crore account holders, whereas South Bihar Gramin Bank has 3 crore. While North Bihar Gramin Bank is making a profit, South Bihar Gramin Bank has faced a loss of ₹918 crore. The loan disbursement figures show North Bihar at ₹10,961 crore and South Bihar at ₹8,916 crore, with deposits totaling ₹17,850 crore and ₹23,484 crore, respectively. The net Non-Performing Assets (NPA) ratios are 8.53% for North Bihar and 30.7% for South Bihar
A court in Hathras, led by Chief Judicial Magistrate Sanjeev Kumar Tripathi, has ordered the police to file a case against the manager of the Bank of India’s Sadabad branch. This decision came after a complaint from Dalveer Singh, a resident of Patti Shakti Sorai village, who claims that money was taken from his bank account without his permission.
Dalveer Singh has had an account at the Sadabad branch of the Bank of India for a long time. On January 8, 2023, two amounts of ₹10,000 each were withdrawn from his account—one during the afternoon and another later that night. Singh says he didn’t authorize these transactions and believes a bank employee helped a fraudster withdraw the money.
Singh found out about the withdrawals on February 17, 2023, when he visited the bank to check his account. He immediately reported the issue to the bank manager and other staff members, but instead of resolving the problem, they kept telling him to come back later. Singh says he visited the bank many times and gave several written complaints, but despite all his efforts, the money has still not been returned to him.
Feeling cheated, Singh took the matter to court. After hearing the case, the court ordered the police at Sadabad Police Station to register a formal complaint against the bank manager and investigate the issue under the appropriate legal sections
In a tragic incident, Upendra, a finance manager at axis bank, ended his life by hanging himself from a tree in the Azad Nagar area of Indore. The 45-year-old had been suffering from a serious illness for quite some time, which his family believes contributed to his emotional distress and eventual decision to take his own life.
The Day of the Incident
On the morning of the incident, Upendra left his house, informing his wife that he would return later. His wife had no reason to suspect anything unusual. However, a few hours later, the family received a devastating phone call from the police. The authorities informed them that Upendra had been found hanging from an acacia tree in a deserted area, approximately one kilometer away from their home. This secluded location was near Akshay Dham Colony, where he was discovered by passersby.
Family’s Response and Police Involvement
The police arrived on the scene and conducted a search of Upendra’s pockets, finding identification that led them to contact his family. The family was immediately notified of the tragedy, and officers continued their investigation to understand what had led to this outcome. Despite thoroughly searching the scene and Upendra’s home, no suicide note was found, leaving his exact reasons unclear. The Azad Nagar police have confirmed that no foul play is suspected in this case. The family was left in shock, unable to comprehend the sudden and heartbreaking loss of their loved one.
Struggles with Health and Emotional Distress
According to the family, Upendra had been dealing with a serious illness for a long time. While he was undergoing medical treatment, his health problems often weighed heavily on his mind, leading him to experience significant emotional and mental distress. His family revealed that he was particularly worried about his future and the impact of his illness, which often caused him to feel isolated and hopeless despite their support.
Upendra’s wife and children had been doing their best to provide care and encouragement during his difficult time. However, the ongoing stress of his illness became overwhelming for him, and his mental health deteriorated as a result.
No Clear Signs of Suicide
Family members say that there were no immediate signs indicating that Upendra was contemplating taking such an extreme step. He had been quietly dealing with his struggles, and while they knew he was anxious about his illness, they were unaware of the depth of his despair. There were no direct warnings or farewell messages before he left the house on the day of his death.
The police, after searching his room at home, confirmed that no suicide note or personal writings provided further insight into his decision. This lack of communication left the family grappling with unanswered questions, heightening their grief and confusion.
Emotional Impact on the Family
Upendra’s family is devastated by his sudden loss. His wife, in particular, is in shock as she recalls the morning he left home with a simple promise of returning later, unaware it would be the last time she would see him alive. The children are also struggling to process the reality of their father’s death, with the pain compounded by the fact that they were unable to help him through his mental anguish.
The entire neighborhood, along with the local community, has expressed sorrow and disbelief at the news of Upendra’s death. Many people knew him as a hardworking man and a devoted father who had been fighting through his illness with strength and dignity.
Conclusion
This tragic event highlights the emotional toll that prolonged illnesses can have on an individual, especially when feelings of helplessness and isolation become overwhelming. Upendra’s death serves as a reminder of the importance of seeking mental health support during times of prolonged physical suffering. The loss has left a deep void in the lives of his loved ones, and the community mourns with them as they navigate this difficult time. The police have closed the case as a suicide and have offered their condolences to the family, urging anyone facing similar distress to seek help before it’s too late.
Expected DA Calculation Updated on 01.10.24 on the basis of CPI for the month of Jul'24 & Aug.24 with the assumptions of CPI for the month of Sep'24 as mentioned hereunder, as per the DA calculation norms of 12thBPS on revised basic pay. The CPI for the month of Aug'24 which was due to be released on 01.10.24 announced on 01.10.24 as 142.60 (the reason of delay of announcement is not known )there is a decrease of 0.10 points from Jul'24. (as per revised base year 2016)(The base year was changed from Oct 2020)
On assumptions if there is an increase of CPI index by 0.70 points in the month of Sep'24, keeping in view of on going regular rise in prices of commonly required daily needs / items and commodities which is making month over month difficult to manage family budget. Accordingly, on this assumption, we may expect there would be an increase of 2.64% DA in terms of 12th BPS on revised pay. Total 19.84% DA will become payable from Nov'24.
On assumptions if there is an increase of CPI index by 0.60 points in the month of Sep'24, we may expect there would be an increase of 2.60% in terms of 12th BPS on revised pay. Total 19.80 percentage of DA will become payable from Nov'24.
On assumptions if there is an increase of CPI index by 0.50 points in the month of Sep'24, we may expect would be an increase of 2.57% in terms of 12th BPS on revised pay. Total 19.77 percentage of DA will become payable from Nov'24.
