PERSONNEL MANAGEMENT SECTION IG No.

: IC/88/2024
HUMAN RESOURCES WING Date : 14/02/2024
HEAD OFFICE : BENGALURU – 560 002 Index : Staff

Sub: Milestone Award – Revision in Quantum & Periodicity.

As per the existing scheme for grant of Milestone award to employees in our Bank, the
quantum was last revised in 2011 vide HO Circular no:247/2011, the existing ceiling is

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Rs. 5,000/- on completion of 25 years of unblemished service.

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We are pleased to inform that the Competent Authority has approved to revise the
Quantum and Periodicity of Milestone Award as follows:

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(Amount in Rs.)
Years of Service Completed
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Milestone Award
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10 5,000
20 10,000
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30 15,000
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The above revision in quantum & periodicity shall become applicable in respect of all
employees who shall be completing above number of years of unblemished service
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from 01.10.2023 onwards and are due for presentation from April 2024 onwards.
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The procedural guidelines of the Milestone Award are furnished in Annexure.

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This circular supersedes to all our earlier guidelines issued regarding the said scheme.
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D SURENDRAN
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CHIEF GENERAL MANAGER

 Annexure

Milestone Award Scheme

Procedural Guidelines

1. Competent Authority for sanction / approval of Milestone Award:

Category of Employees
Subordinate Staff
Clerical Staff
Officers in Scale I/II /III
Sanctioning Authority
Officials Working Under
 HOSA: Overseeing DGM, HR Wing, HO.
 SAS: Overseeing DGM, Inspection Wing, HO
 Circle Office: Circle Head
 Regional Office : Region Head

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Executives in
CGM/GM , Human Resources Wing, HO.

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Scale IV to VIII

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2. The Milestone Award is to be presented to eligible employees who have put in
unblemished service as under:
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Staff Members completing
Presented in the month of
eligible years between
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1st October to 31st March Succeeding Month i.e., April

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1st April to 30th September Succeeding Month i.e., October

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Milestone Award is to be presented during ensuing monthly staff meeting of

Branch/Office.
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3. For Employees up to Scale – III, HRM Sec CO/RO /SAS/HOSA Sections concerned shall
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obtain permission from the respective Competent Authority for release of Milestone
Award to eligible employees during the respective six months' block & inform the
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concerned Branch/Section/Office the name of eligible employees to be presented with

the award during April/October staff meeting respectively.
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4. For Employees from Scale – IV to VIII, Personnel Management Section, Human

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Resources Wing shall obtain permission from CGM/GM, Human Resources Wing for
release of Milestone Award to eligible Executives during the respective six months'
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block & inform the concerned HRM Sec CO/RO /HOSA/SAS Sections the name of eligible
employees to be presented with the award during April/October staff meeting
respectively.
5. The award may be in the form of an article like wrist watch, silver salver or any other
article of the employee's choice. Cash award shall not be given in any case.
6. The award should be given uniformly irrespective of the cadre of the recipient i.e.,
whether he / she is an Executive, Officer, Clerk or Subordinate Staff.
7. The leave record of the employee should be non-assailable, in the sense that, all leave
availed by him / her should be duly sanctioned by the concerned authorities.
 General Terms & conditions:
Below conditions are to be complied while granting above milestone award.
 The honour should be bestowed on an employee on completion of eligible years of
unblemished service, if any punishment is imposed upon him during the immediately
preceding three years or the rigour of penalty is in operation, then the award may be
granted after the debarment period is over or after 3 years, whichever is longer
 In addition to above, upon completion of 10/20/30 years of unblemished service,
bestowment of the award may be postponed by actual number of days they were on
AWL/LOP and the award may be bestowed in the subsequent April/October month.
 If the employee is / was under suspension, then bestowing the milestone award may
be postponed to the extent of the suspension period

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 If the employee is dismissed & reinstated, bestowing the milestone award may be

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decided on a case to case basis by Chief General Manager / General Manager of Human
Resources Wing, Head Office.

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 If an official is on Sabbatical Leave / Maternity Leave he/she shall be eligible for

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award upon their reporting back to duty & for officials under abroad posting /
deputation, they shall become eligible up on their repatriation or retirement,
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whichever is earlier.
 In the case of eligible employees retiring before the months specified (April/October)
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for bestowing the Award, they may be bestowed the Award in the Staff Meeting during
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the month in which they are retiring.

 The cost of the article presented to the employee shall be debited to the General
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Charges – Staff Expenses (Officers / Clerks / Sub staff as the case may be) and bills
will be lodged along with the triplicate slip at Branch/Office itself. If the employee
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desires to have an article, which costs more than eligible amount the excess amount
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has to be borne by him / her, in advance.

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 In respect of Ex-servicemen employees, as per HO Circular 186/2020, defence service

rendered by Ex-servicemen will also be taken into account while arriving on the total
number of years of service & to be made eligible for the award as & when they
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complete a total 10/20/30 years of service.

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 In case of Officers / Employees appointed as Apprentice / Officer on Contract and

thereafter, absorbed in regular services, the date of joining as Apprentice / Officer
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on Contract may be taken into account, while computing the service for grant of
Milestone Award.