The history of the Bank of Bengal; An epitome of a hundred years of banking in India

 
9781153560399: The history of the Bank of Bengal; An epitome of a hundred years of banking in India
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ... over the Treasuries at Akola and Oomrawallah in the Berars to the Bank, in the event of it being decided to open branches there. Despite, however, several reminders and personal representations, no definite reply on this subject ever appears to have been received. The Bank's European staff had, since the opening of the Branches, the taking over of Government business, and the consequent increase in the number of appointments from about twelve to nearly sixty, been arranged in a graded list as follows:--Class I--Salary Rs. 1,000 to Rs. 1,500 per mensem, rising by annual monthly increase of Rs. 75. Class II-.--Salary Rs. 740 to Rs. 900 per mensem, rising by annual monthly increase of Rs. 40. Class III--Salary Rs. 550 to Rs. 700 per mensem, rising by annual monthly increase of Rs. 30. Class IV--Salary Rs. 300 to Rs. 500 per mensem, rising by annual monthly increase of Rs. 30. Class V--Salary Rs. 200 to Rs. 300 per mensem, rising by annual monthly increase of Rs. 25. The whole of the European Officers were included in this list, Class I containing the Deputy Secretary, Chief Accountant, Inspector of Branches and four Agents; Class II, two Departmental Superintendents and seven Agents; Class III, two Departmental Superintendents and ten Agents; and Classes IV and V some thirtyone junior officers. This scheme was not found to work well in practice, the more or less guaranteed increases of pay weakening to some extent the authority of the executive at Head Office: there were also other drawbacks, and it was, with the consent of the staff, given up in 1871 in favor of the system of promotion by selection which prevails at the present day. The Bank's Guarantee Fund was first started in October 1869, at the request of nineteen European Officers of...

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