Public Sector banks should update transfer policy, suggests Finance Minister
Some of the changes advised include banks automating the transfer process and developing an online process for the same with facilities of giving location preference options to its employees.
The finance ministry on Tuesday advised Public Sector Banks (PSBs) on a series of measures to incorporate in their respective 'Transfer Policy' and seek approval of their boards for implementation starting FY26. The Department of Financial Services in a letter to all PSBs said the transfer policy has been reviewed with an aim to promote greater transparency and ensure the formulation of a uniform and non-discretionary policy.
Some of the changes advised include banks automating the transfer process and developing an online process for the same with facilities of giving location preference options to its employees.
"Women employees be transferred as far as possible to nearby places, stations, regions," the letter noted, adding that grievances received from employees citing violation of transfer policies be dealt with in a considerate manner.
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