Compassionate Appointment in Banks – Department of Financial Services Order 7.8.2014
Compassionate Appointment in Public Sector Banks – Department of Financial Services Order 7.8.2014
Government of India
Ministry of Finance
Department of Financial Services
Dated: 7th August, 2014
Dear Kamath Sahab,
Kindly refer to IBA’s letters No.HR&IR/KC/Govt/532/9274 dated 22.4.2014 and 13.6.2014 regarding IBA’s proposal fo revising the Compassionate Appointment Scheme in Public Sector Banks (PSBs). The proposal has been examined in this Department and it is decided to convey the approval of the Government on the proposal of IBA as follows…
1. To open the Compassionate Appointment in PSBs on the lines of Central Government
2. Discontinuing the provision of ex-gratia in lieu of Compassionate Appointment in PSBs.
2. Accordingly, IBA is also requested to take appropirate action to circulate the revised Scheme toa ll PSBs for adoption with the approval of their respective boards. The Scheme shall be applicable from 5.8.2014.
3. The issues with the approval of Hon’ble Finance Minister.
With warm regards,
Indian Banks Association,
Copy to the Chairman, SBI/CMDs of all Public Sector Banks including IDBI and SBI Associates.