Rajya Sabha Q&A : Transfer policy in PSU Banks & Insurance Companies

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
RAJYA SABHA

UNSTARRED QUESTION No. 241
TO BE ANSWERED ON 19 July, 2022 (TUESDAY)/ ASHADHA 28, 1944 (SAKA)

241. SMT. PRIYANKA CHATURVEDI:

Will the Minister of FINANCE be pleased to state:

(a) whether Government has any specific transfer policy regarding employees of Public Sector Banks (PSBs) and public sector general insurance companies, if so, the details regarding the transfer policy;

(b) whether Government has any policies with regard to transfer of spouses of Central Government employees/others working in PSBs/insurance companies, if so, the details thereof; and

(c) whether Government has any data regarding the transfer and mobility policy of female employees working in PSBs and public sector insurance companies, if so, the details thereof?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE
(DR. BHAGWAT KARAD)

(a) to (c): Transfer of employees in Public Sector Banks (PSBs) and Public Sector Insurance Companies (PSICs) is governed by their respective Board approved ‘Transfer Policy’. The salient features of the transfer policies of PSBs and PSICs is annexed.

Government, vide letter dated 8.8.14 in respect of PSBs and dated 23.9.2014 in respect of PSICs, has issued advisory to accommodate as far as possible, transfer/posting of female employees, on their request, at a place where their husband/parents are stationed or as near as possible.

During the FY 2021-22, 48,060 female employees have been transferred in PSBs and PSICs.

Annexure

Salient Features of Transfer Policy in Public Sector Banks (PSBs) and Public Sector Insurance Companies (PSICs)

• Transfers are carried out on administrative grounds, in different geographical regions of the country to equip Officers with various kinds of exposure at different categories of branches (small, medium, large, very large, etc.) and location (rural, semi-urban, urban, metro) and controlling officers.
• Transfers are mainly considered on the basis of seniority amongst the applicants and seniority for the purpose is reckoned from the date of joining.
• Upon promotion, Officers are normally moved out from their previous office.
• Other than transfers on promotion, there are provisions for request transfer, repatriation to parent zone, acquiring rural/semi-urban exposure, Compassionate ground, periodic job rotation, etc.
• Officers who have completed requisite number of years of service, as defined in respective transfer policies, in the same zone, are moved out from their zone.
• Lady officers, as far as possible, are transferred/posted to a place where their husband/parents are stationed.
• The CVC guidelines with respect to rotational transfer of Officers working in sensitive posts from one branch/office to another, are followed.
• Age of Officers is generally a factor while implementing the transfer of services. Subject to availability of vacancies, the posting of Officers retiring within the next two (02) years are considered for posting in their area of domicile, as far as possible.
• Officers who are differently-abled are usually exempted from transfer. There are separate provisions for their transfer/posting.
• Officers posted to branches / offices in Difficult/Hilly/North-Eastern region are usually
  eligible for choice transfer after completing a defined period of active service.
• Special consideration is given while effecting transfers/placement of the following:-

a. Sports Person.
b. Women Employees (Spouse/Parents Location).
c. Transfer on compassionate grounds/critical illness.
d. Couple cases (in same/other organizations).
e. Transfer of physically handicapped employees.
f. Transfer for officers who have differently abled children.
g. Ex-servicemen.

Source: Public Sector Banks and Public Sector Insurance Companies