Saturday, June 6, 2015

Now, PSU bank staff are entitled for paternity leave

THIS is good news for to-be-dads working as executives in any of the nationalized banks. Employees of all public sector banks can now avail paternity leaves for 15 days. A recent wage settlement signed between the Indian Banks' Association (IBA) and bank unions provides paternity leave entitlement to male executives. "All subordinate employees, clerical employees, officers will be eligible for 15 days of leave before the due date of the spouse or up to six months post delivery," general secretary...
of the All India Bank Employees Association (AIBEA) C H Venkatachalam was quoted as saying in a national daily. But there is a catch. This entitlement can be availed for two children only. And such leave can be clubbed with paid leave but not casual leave. An employee working in a nationalized bank gets 30 days of paid leave every year which can be accumulated up to 270 days.
Central government employees are already entitled to paternity leave which is similar to what can be availed of by public sector bank employees now.
The paternity leave benefit has come into force from June 1 and is expected to benefit around two lakh male executives in the age group of 20 to 35 years working in various nationalized banks across the country.
Paternity leave has been a long pending demand of banking employees. "With average age of staff in public sector banks coming down on account of good recruitment policies in recent years, this is a good welfare scheme to keep employees happy," executive director of Central Bank of India BK Divakara said.
This may also be viewed as a bid to retain PSU bank staff as many nationalized banks have lost good talent to private banks in the past.
Unlike maternity leave which is usually used up for rest and recuperation, time taken off during paternity leave can be utilized effectively to put a support system in place for the newborn.
Paternity leave is a norm in the US and Europe.

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