Corporation Bank Priority Sector Division, Head Office: Mangalore

Policy on recruitment of Chief Executive Officer for Grameena Abhyudaya Financial Literacy & Credit Counseling Trust (GAFLCCT):

Remuneration structure for the Chief Executive Officer:

i) If the candidate fulfills eligibility criteria, he/she may be appointed as Chief Executive Officer (CEO) on contract basis for a period of one year with a consolidated salary of Rs.15,000/-(Rupees Fifteen thousand only) per month.

ii) On completion of each year of satisfactory service, the candidate may be again appointed as CEO on contract basis for a period of one more year, with a salary of Rs.15,000/-per month plus the appropriate increment as indicated below, for the completed years of service.

iii) On completion of each year of satisfactory service, increment will be paid as follows:

a) Rs.750/-(Rupees seven hundred fifty) each after completion of first & second year b) Rs.1000/-(Rupees one thousand ) each after completion of third & fourth year c) Rs.1250/-(Rupees one thousand two hundred fifty) each after completion of fifth and sixth

year. iv) The CEO will be paid following allowances:

(a)

Conveyance allowance of Rs.2,000/-per month

(b)

Telephone allowance of Rs. 750/-per month

v) However, no increment will be payable after the salary reaches Rs.21,000/-per month.

vi) Salary will not be paid for days of absence in any month, after casual leave is exhausted in a calendar year.

In all administrative matters, the decision of the Board of Trustees will be final and binding.

Assistant General Manager Priority Sector Division