The state-owned (US) has decided to pay an annual allowance of Rs 2 lakh to its top management for purchasing mobile handsets. As per the revised employee welfare benefit norms, the bank’s top management – managing director (MD) and executive director – will be entitled to Rs 2 lakh for purchasing mobile handsets, sources said.

The price of mobile does not include Goods and Services Tax (GST). in present, GST The rate on mobile phones is 18 per cent.

Sources said the revised norms are applicable from April 1, 2022 as per the decision of the bank’s board.

Mails sent to PNB for comment did not elicit any response.

The second largest lender has four executive directors to assist the MD and CEO.

However, sources said the eligibility for mobile phones up to Chief General Manager (CGM) has been retained at the previous level. As per the revised guidelines approved by the Board, the eligibility for CGM has been retained at Rs 50,000 while for GM at Rs 40,000.

In 2020, the Delhi-based lender had bought three luxury cars from Audi for its top management. These luxury cars were for the MD and two senior executive directors.

The revised guidelines have also increased the car’s eligibility for CGM from the current Rs 12 lakh ex-showroom price to Rs 15.50 lakh ex-showroom price inclusive of all taxes excluding GST.

A notch below this, the GM level, would be eligible to use a car worth Rs 11.50 lakh from the current limit of Rs 9 lakh.

For purchase of green energy based technology like electricity, CNG or eco-friendly fuel etc., the officer is allowed to purchase it with a price variation of up to 15 per cent.