PSB Transfers to Become Transparent and Automated by FY 2026
The government has advised to update the transfer policy for bank employees. The Finance Ministry has advised public sector banks (PSBs) like SBI, PNB, Bank of Baroda (BoB) etc. to include several measures in the transfer policy. The Finance Ministry also said that these rules should be implemented from the beginning of the financial year 2026 after getting approval from the board.
Read More in Simple Term — https://newsplustoday.com/government-changes-bank-employee-transfer-policy/
It will help in preparing a uniform policy
The Department of Financial Services said in a letter to all the public sector banks (PSBs) that the transfer policy has been reviewed. This will promote more transparency. After this, it will help in preparing a uniform policy. Some of the suggested changes include allowing banks to automate the transfer process and create an online process for it, as well as giving location preference options to their employees.
Complaints received from employees should be resolved
The letter states that women employees should be transferred to nearby places, stations, areas as far as possible. It also states that complaints received from employees citing violation of transfer policy should be resolved. The Finance Ministry’s advice said that PSBs are advised to send a copy of the changed policy to the department as soon as possible.’
What changes can be made in the Transfer Policy?
Banks are now trying to make their transfer policy more transparent. This will enable employees to know why and how they will be transferred. Apart from this, many banks are doing the transfer process in automation mode. Banks also give employees the option of giving their choice of place of transfer policy. Efforts are made to transfer women employees working in banks to nearby stations.
Read More in Simple Term — https://newsplustoday.com/government-changes-bank-employee-transfer-policy/
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