It is reported that the following guidelines have been sent by Ministry of Finance vide letter dated 3rd May, 2012, to all PS Banks for implementation :-
Taking into consideration the academic session and other relevant factors, it has been decided that the process of regular transfer of officers is also completed at the beginning of the year so that the staff is not put to undue inconvenience.
2. In view of the above, the Public Sector Banks are advised for compliance as follows with reference to the Promotions and Transfers:
1) The process for promotion for the vacancies during the year must be completed before June of that year.
2) All transfer orders should be issued by June every year. However, transfer on promotion can be done after June as and when these become due.
3) Any transfer of officers after June, even on administrative exigencies, except on promotion, would require prior approval of the Board of Directors.
4) For promotion during the year APAR upto the previous year must be taken into account. The banks must put in place a system in which APARs are completed in time and are available for the process of promotion.
5) In case exams are to be conducted for promotion at any level, the same should also be held in time so that the promotion process got completed in time.
All Banks are requested to obtain the approval of the Board of Directors for the above at the next meeting and to take action accordingly
Source : Allbankingsolution
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