Government announced New Transfer Policy for Public Sector Bank Employees

The Government of India has approved a new transfer policy for Public Sector Bank Employees. These guidelines will be applicable for all Government PSU Banks (Public Sector Banks) – State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Union Bank of India, Bank of India, Indian Bank, Central Bank of India, UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, Indian Overseas Bank.

Watch Video & Understand New Transfer Policy for Public Sector Bank Employees

Public Sector Banks New Transfer Policy PDF

• Download Transfer Policy PDF Public Sector Banks
• Government guidelines on posting and transfer of Female staff in Banks

Public Sector Bank New Transfer Policy: The Government of India has introduced a new Transfer Policy for Public Sector Bank Employees. The Department of Financial Services under Ministry of Finance has released a circular regarding new transfer policy of PSU Bank Staff. The Government Bank Employees have been complaining for quite a long time regarding the unfair transfer policy prevailing in the banks. The DFS has mentioned in its circular that the reason for the introduction of this new transfer policy is – complaints.

The DFS has said that it received a lot a complaints regarding the transfer policy in PSBs via various modes and thus, the new transfer policy for Public Sector Bank Employees was introduced. We have also created a video on New Transfer Policy of Bank Staff. You can watch video and understand policy in an easy way. You can also download PDF of New Transfer Policy for Public Sector Bank Employees via link given below.

New Transfer Policy for Public Sector Bank Employees: Government instructions

• Administrative Layers: Banks must define the hierarchy of administrative layers, such as Region, Zone, Circle, and FGMO (Field General Manager’s Office). For each layer, minimum and maximum tenure durations should be clearly specified to ensure consistency in employee placements and career progression.
• Transfer Timelines: Banks should establish a strict timeline for conducting transfer exercises, aiming to complete all transfers before June each year. Mid-year transfers should be minimized and limited to situations involving promotions or critical administrative requirements.
• Transparency in Transfers: Banks should ensure transparency by annually publishing seniority lists and existing/expected vacancies. Rotational transfers should be based on seniority, with exceptions documented.
• Automation of Transfer Process: Banks should develop an online platform for the transfer process, allowing employees to express location preferences. The portal should include transfer policies, guidelines, seniority lists, and vacancy details.
• Regional Accommodation: To improve customer service, banks should aim to place officers (up to Scale-III) within their linguistic regions, wherever feasible. This would ensure better communication with customers while balancing vacancies and administrative needs.
• Difficult Areas Designation: Certain regions should be officially designated as Difficult Areas, recognizing the challenges faced by employees posted there. Employees completing their tenure in these regions should be prioritized for transfers to preferred or less-demanding locations.
• Incorporation of Additional Grounds: Banks should include additional grounds for transfer such as marriage, spouse, medical needs, maternity, child care, and distant postings.
• Spouse Employment Consideration: Efforts should be made to place employees in the same or nearby region as their spouse if the latter is employed with the Central or State Governments. This helps maintain work-life balance and family unity.
• Women Employees’ Transfers: Banks should transfer women employees to nearby locations whenever possible, ensuring their safety and access to basic amenities in remote postings.
• Grievance Handling: Grievances arising from perceived violations of the transfer policy must be addressed thoroughly. Banks should ensure that grievances undergo detailed deliberations, with responses properly documented to maintain transparency and accountability.
• Appeals Committee: A dedicated Appeals Committee should be established to review transfer-related appeals. This committee must resolve appeals within 15 days to avoid prolonged delays and employee dissatisfaction.
• Transfer Protection for Office Bearers: Banks should clearly define the position, tenure, and applicability of transfer protection for office bearers of Associations/Unions. Transfer protection may not be provided to office bearers upon promotion.

• Download Transfer Policy PDF Public Sector Banks
• Government guidelines on posting and transfer of Female staff in Banks

The DFS has also asked each public sector bank – State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Union Bank of India, Bank of India, Indian Bank, Central Bank of India, UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, Indian Overseas Bank, to revise their existing transfer policies with DFS guidelines and send an updated copy to the department.