PSU Banks Transfer Policy: If you or any of your friends or relatives work in a bank, then this news is useful for you. Yes, the government has advised to update the transfer policy for bank employees. The Finance Ministry has advised public sector banks (PSBs) like SBI, PNB, Bank of Baroda (BoB) etc. to include several measures in the transfer policy. The Finance Ministry also said that after getting approval from the Board, these rules should be implemented from the beginning of financial year 2026.
This will help in formulating a uniform policy.
The Department of Financial Services has said in a letter to all public sector banks (PSBs) that the transfer policy has been reviewed. This will promote transparency. This will then help in formulating a uniform policy. Some of the changes suggested include allowing banks to automate the transfer process and create an online process for it, as well as giving location preference options to their employees.
Grievances received from employees should be resolved
The letter states that as far as possible, women employees should be transferred to nearby places, stations, areas. It also said that complaints received from employees citing violation of transfer policy should be resolved. The Finance Ministry advisory states that public sector banks are advised to send a copy of the changed policy to the department as soon as possible.
What changes can be made?
Banks are now trying to make their transfer policies more transparent. With this, employees will be able to know why and how their transfer will take place. Apart from this, many banks are doing the transfer process in automation mode. Banks also give employees the option to indicate their preferences regarding the location of the transfer policy. Efforts are being made to transfer women employees working in banks to nearby stations.
