New Delhi. Bank employees will have to work with the changed transfer policy in the coming days. In fact, the Finance Ministry on Tuesday issued several suggestions to banks regarding the transfer policy.
The aim of these suggestions is to promote more transparency in the transfer policy of public sector banks. According to a consultation issued to the heads of PSBs, the Department of Financial Services has asked the banks to incorporate these suggestions in their respective ‘transfer policy’ with the approval of their boards and take immediate action for its implementation from 2025-26.
The consultation said, “PSBs are also advised to send a copy of the revised policy to this department as soon as possible.” It said that the transfer policy has been reviewed to promote more transparency and to formulate a uniform and non-discretionary policy.
These changes include banks automating the transfer process and developing an online process for this with features to give location preference options to employees. The letter said, “Women employees should be transferred to places, stations, areas as close as possible.”
The Finance Ministry said that complaints regarding violation of transfer policy should be addressed carefully. Banks are encouraged to complete the transfer process by June every year, unless required for promotion or administrative reasons, and it has been asked to avoid mid-year transfers.
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