Friday, April 28, 2017

At SBI, it is bachelor’s party time

From the bank’s circular it appears that
marriage allowance is only for male staff

Coimbatore, April 27: This is the season for marriages and naturally there is plenty of talk about the costs associated with it.

State Bank of India, the country’s largest bank, is trying to do its bit to help ease the fear of marriage expenses by providing an allowance to its employees.

But there are some caveats. The marriage allowance seems to be only for bachelors and there is a monetary ceiling.

It is not clear from the relevant circular whether the term bachelor includes spinsters too.

But a plain reading gives the impression that it may be gender discriminatory. Perhaps that will be addressed soon with a clarification.

But coming back to the allowance itself, if you are an SBI employee and a bachelor, you will qualify for the allowance as also leave for seven days. The bank has, in its e-circular, stated that this decision to provide marriage allowance follows representations made by both All-India State Bank Officers’ Federation and State Bank of India Staff Association.

But old timers of the bank whom BusinessLine spoke to couldn’t resist taking a dig at such an allowance.

The allowance

According to the circular, all award staff (not officers) will be eligible for a maximum of Rs. 3,000, while those in the Junior Management Grade (Scale I), Middle Management Grade (Scale II and III) and Senior Management Grade (Scale IV and V) can get up to Rs. 5,000. Those in the Top Executive Grade (Scale VI and VII) and TEG (Scale I and II) are eligible for Rs. 7,500 and Rs. 10,000, respectively.

Lest some employees get ideas to misuse the allowance by marrying many times, the circular, with abundant caution, reiterates that the allowance and leave would be available for first-time marriage only and once during the entire career.

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