Punjab National Bank (PNB) might spend over Rs.45 crore due to the new transfer policy introduced by the Bank. PNB has introduced a new Transfer Policy wherein an officers will be posted for 3 years in a branch, 6 years in a circle and 9 years in a zone.
This new Transfer Policy has received a mixed reaction from employees. The majority of officers are protesting against this new policy as they say it might negatively impact their family life and social relations.
The PNB has released a list of employees who have completed 6 years in a circle and 9 years in a zone. These officers are eligible for transfer this year. As per the document accessed by our team, there are more than 9,400 officers to be transferred this year. This is an approximate number as per the list. If Bank spends Rs.50,000 on an average on the transfer of each officer, then the total amount goes over Rs.45 crore.
When an officer is transferred on administrative grounds in Banks, the Bank bears the cost of transfer. We have taken the amount as Rs.50,000 approximately but it can vary as per distance and post of employee.
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