Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) is set to provide relief to the employees working in banks and financial institutions.
The central bank is going to amend the Employee Service Bye-law issued as a model for banks and financial institutions. In the draft of the amended bylaw, there is a provision to provide relief to the employees of the bank in the festival allowance.
It is proposed that every employee of the bank will now be entitled to an amount equivalent to one month’s salary and allowance that they have been getting every year for the festivals celebrated as per their religion, culture and tradition.
Likewise, it has been proposed that the employees can request in writing to receive the expenses of such festivals once in a fiscal year on the occasion of the main festivals celebrated according to one’s religion, culture and tradition. It has been proposed in the amended bylaws to provide festival facilities only if such request is not made.
In the draft, it has been proposed to provide full salary and allowances to the employees appointed and working till the previous day. This provision will end the provision of getting festival allowance only after at least 6 months or 3 months of the appointment.
Similarly, the draft has proposed to provide double the salary and allowances that banks and financial institutions are getting to their employees working during festivals.
All these 3 provisions are not in the current by-laws.
Earlier, the Nepal Rastra Bank (NRB) had amended the existing provision to provide additional allowance to the employees working in the banks and financial institutions for working overtime. Similarly, the banks and financial institutions are not allowed to make any employee work overtime without their consent.
However, the Nepal Rastra Bank has not made a provision to provide overtime allowance to the managerial-level employees for working long hours.
