PNB: Rs. 2 Lakhs To Buy A Mobile Phone.. Bank's Key Decision

PNB: Public sector Punjab National Bank (PNB) has decided to give an annual allowance of Rs 2 lakh to its top management to purchase mobile phones. Bank has reviewed the provisions of welfare benefits of employees. According to the relevant sources, if the managing director and executive director buy mobile phones under these rules, the bank will provide Rs. 2 lakh per year. However, the Goods and Services Tax (GST) is not included in the mobile phone costs. Currently there is 18 percent GST on mobile phones. As per the decision of the bank board, these revised regulations came into effect from April 1, 2022. Despite sending a mail to PNB on this matter, they have not yet responded.

PNB is the second largest bank in the country. This bank has four executive directors to assist the MD and CEO. Under the revised guidelines approved by the Board, the mobile phone allowance for the Chief General Manager remains Rs.50 thousand. It is also known that the allowance for the general manager is Rs.40 thousand.

In 2020 as well, PNB bought three luxury cars from Audi for its top management. These luxury cars were given to the MD and two senior executive directors. Also, under the revised guidelines, the car benefits for the Chief General Manager have been increased from the current ex-showroom price of Rs.12 lakh (excluding GST) to Rs.15.50 lakh (inclusive of all taxes). Also, the limit has been increased so that a general manager level person can use a car worth Rs 11.50 lakh instead of a car worth Rs 9 lakh.

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