Transfer policy in public sector banks

Candidates aspiring for Bank Jobs must be bothering about transfer policy after their selection. Job with a Government Bank is a very lucrative offers which comes with a number or perks like comfortable work hours, job stability & security, regular pay, and a sense of respect and dignity with very few distractions, transferable job topping the list. With changing times, there has been a considerable hike in the number of people eying for a job with a Government Bank. This has resulted in a increased staff number including the female staff

1. Keeping in mind the security and family issues, the Department of Financial Services under the Ministry of Finance, Government of India has asked the public sector banks to adopt a ‘Preferential Transfer Policy’ for female employees. ‘Preferential Transfer Policy’: The Department of Financial Services, vide an official circular, asked all public sector banks to frame women-specific transfer policy, which would give them an opportunity to stay with their families. The new transfer policy would facilitate easy transfers of female employees. The proposed provisions to the PSU banks would allow:

• Married female employees to be placed/ transferred at the same place or the place nearest to where her husband reside.
• Unmarried female employees to be placed/ transferred at the same place or the place nearest to where her parents are reside.

2. The Government has asked the banks to frame their internal transfer policy for female employees considering the above mentioned points. The policy is also expected to include all pending transfer requests from female employees already employed with various public sector banks.
3. As it is a well known fact that banking job is a transferable one and the same is declared by all the Banks at the time of inviting applications as well as in the later stages of the recruitment process. The initial training and placement of the selected bank employees is done on the basis of vacancies at different locations across the country, including the rural and far-off areas. Many female candidates apply for a transfer to their home town/ city, just after completing their training period, to stay with their families.
4. In some cases, female employees resort to resignation as the last retort when they are not given a transfer to a place of their choice.
5. In view of the criticalities of the life of the female employees, the Finance ministry has asked to work out a dedicated transfer policy for female employees, which would enable banks to appoint/ transfer female employees to their hometowns.