1. The Scheme :
The Scheme shall be run under the Caption of “CBOA – BENEVOLENT FUND”.
- To promote social, cultural, educational and other interest and activities of all the officers of Canara Bank in
- To provide in case of need financial assistance to any officer of Canara Bank in India or to the members of his
3. Management :
- Fund will be under the direct control of the Canara Bank Officer’s Association (Regd).
- Anaccountinthenameandstyleof”CBOA-BenevolentFund”shallbeopened in any of the branches of Canara Bank.
- The account of the fund shall be operated upon by any of following twooffice ..bearersof the Canara Bank Officers’ Association Jointly: viz., Treasurer, Vice President, General Secretary and Deputy General
4. Accounts :
The Treasurer shall place the “Receipts &Payments” Statement of the fund before the General Body of the Canara Bank Officer’s Association forapproval.
5. Membership :
All the existing members of the Canara Bank Officers’ Association who are remitting their monthly subscription under the ‘check off’ facility or otherwise and all future members shall be automatically covered under the Fund subject to lodging of requisite mandate with the Bank.
6. Members’ Contribution:
Every member shall pay a sum of Rs.100/-(Rupees One Hundred only) per month as ‘Contribution to the Fund’. They shall lodge a Mandate with the Bank to deduct Rs.100/-permonthtowardstheFundfromtheirsalaryandallowancesunder’check off’facilityarrangedwiththeBank.Thischeckoffwillbeeffectivefromthesalarypayable toMembersfrommonthofMarch2007.
7. Cessation of Membership:
- For non-payment of the monthly contribution for three consecutive
- WhenamemberceasestobememberoftheCanaraBankOfficers’Association underitsrulesandviz.,
- When he / she ceases to be an officer of the Bank by death, resignation, retirement,removalordismissal-subjecttoprovisowithregardtoremoval/dismissal fromtheBankforparticipationin
- Whehe/sheisremovedorexpelledfromthemembershipoftheAssociationas providedundertherulesandbyelawsofthe
8. Readmission :
Any member of the Fund who ceases to be a member of the Fund, for any reason, may be readmitted, subject to his eligibility to be a member of the Canara Bank Officers’ Association as per the Rules &Byelaws. Such member shall pay all the arrears.
9. Operation of the Scheme:
- In the case of ‘death in harness’ of a member a sum of Rs.4,50,000/- (Rupees fourlakhsfiftythousandonly)shallbepaidtothenominee/softhememberfromthe
- Thereliefundertheschemeshallbepayableasareimbursementofexpenses such as:
- Medical expenses of member, his / her parents and other dependents of the deceasedmember-whichareincurredduringhis/herlifetime;
- Expensesincurredbyfamilymemberstowardsfuneral,lastritesofthedeceased memberetc.
- InordertobeeligibleforthereliefundertheScheme,themembershouldnotbe in arrears of Subscription to the Canara Bank Officer’ Association andContribution towards the
- Themembersareadvisedtofillthe’NominationForm’whilesigningthemandate fordeductionofcontributiontotheFundinordertoobviatethenecessityofproducing Successioncertificatebythe
- In the matter of interpretation of any of these rules, decision of the Central Committee of the Canara Bank Officers’ Association shall be
10. Legal proceedings :
No legal proceedings shall be instituted or commenced without the approval and sanction of the Central Committee of the Canara Bank Officers’Association.
11. Jurisdiction :
All legal proceedings shall be only within the jurisdiction of the Courts in the city ofMumbai.
12. Amendments :
The Rules and Regulations of the Fund are subject to amendments by the Central Committee of the Canara Bank Officers’Association.
13. Dissolution :
The Central Committee of the Canara Bank Officers’ Association shall be empowered to dissolve and adjust the Fund. On such dissolution all monies to the credit of the Fund shall be disposed off in accordance with the directions given by the dissolution Meeting of the Central Committee of the Canara Bank Officers’Association.
- A suitable memento worth 5000/- shall be given to all the officers retiring on superannuation irrespective of the tenure of their membership in the association.
- In case of any member who is demitting his office on VRS/ Resignation the memento shall be given as follows:-
- An officer who is the member of the association for a period of 5 years and above shall be given a memento worth 5000/-
- Any officer who is the member of the association for a period of 2 years and above but below 5 years shall be given a memento worth Rs. 2500/-
DISTRICT Secretary to organise a meeting to felicitate the retiring Member of the Organisation on the date of his retirement on superannuation or VRS or Resignation and present the memento as a token of CBOA’s gesture to the member who stood with the organisation like a rock and contributed in his own way for making the Association more vibrant.
MODE OF CLAIM :
District Secretary shall have to incur the expenditure and claim reimbursement through the Regional Secretary on a monthly basis. Stamped Receipt has to be produced while claiming reimbursement as the same is required for audit purposes.
(BANK’s Scheme of honouring retired employees : Gift article worth Rs,10,000/
|Total amount spent by the Member as shown in Sanction proceedings
of the Bank
|Maximum amount reimbursable in respect of hospitalisation of
|Maximum amount reimbursable in respect of hospitalisation of Spouse of the Member|
|Rs.35001/- to Rs.50000/-||Rs.10,000/-||Rs.5,000/-|
|Rs.50001/- to Rs.100000/-||Rs.15,000/-||Rs.7,500/-|
|Rs.100001/- to Rs.200000/-||Rs.30,000/-||Rs.15,000/-|
|Rs.200001/- and above||Rs.50,000/-||Rs.25,000/-|
It is a common experience that officer who undergoes major operation or who is hospitalised for a long duration , incurs substantial amount from own sources inspite of normal reimbursement of Medical Expenses by the Bank. The scheme was earlier applicable to only for member’s hospitalisation expenses and not that of his dependents.
Condition : No arrears in the subscription towards the organisation. Claims shall be scrutinised and processed by the Welfare Secretary, Central Office, Mumbai.
The maximum amount reimbursed to a member during his / her entire service is Rs.50,000/-
Mode of Claim : Members should send their claims through the Regional Secretary along with the copy of the sanction proceedings received from HRM or HOSA Section as the case may be.
DEATH RELIEF SCHEME
Quantum : Death Relief amount under the Scheme is presently Rs.50,000/-.
Condition : Amount is payable to spouse or in their absence to 1st Son / Daughter of the member who died in harness.
There should not be any arrears of subscription .
Mode of Claim : Regional Secretary should place a claim on Welfare Secretary , Central Office , Mumbai – giving full details.
Receipt : Regional Secretary to submit stamped receipt from claimant after making payment , for audit purpose.
( Bank’s Death Relief Scheme : Rs.1,50,000/-)