As reported by “The Times of India”, Centre promises jobs to next of kin of those who die in service, special home loan scheme employees at public sector banks (PSBs) have much to cheer with the government announcing a series of feel-good steps. Also, women separated from their families will now get a preferential treatment in transfers, and next of kin of the employees who die in service will be provided employment on compassionate grounds.
The government has also asked the Indian Banks Association to include a board-approved employee home loan scheme as part of wage negotiations. The freedom to structure a favourable home loan scheme for employees will help banks deploy surplus funds and provide a boost to housing.
Preferential transfers will come as a relief to thousands of women bank employees, but the move could cause some operational upheaval in the short term.
In a circular to all banks, the department of financial services said that “female employees when placed transferred away from their husband or parents to distant locations face a genuine hardship and develop a feeling of insecurity”.
It said that banks should as far as possible place or transfer a woman employee to a place where her husband is stationed or nearby. Similarly, unmarried women employees should be posted close to their parents’ place.
“PSBs are, therefore, advised to frame a policy on the subject with the approval of their board suitably incorporating the above and take immediate action for implementation and compliance.
Pending requests may be considered under these guidelines,” the circular said.
‘Compassionate employment’ or employment to children or spouses of the employees who die in service was discontinued after 200405. The finance ministry circular, addressed to the chairman of the Indian Banks Association, says that the government has approved the reintroduction of ‘compassionate appointment’ in public sector banks on the lines of the central government scheme with effect from August 5. It has discontinued the provision of ex-gratia payment in lieu of such appointments.
A senior executive with a public sector bank said, “When recruiting employees it is made clear to them that the bank job is transferable and they will be transferred wherever their services are required. Most of the candidates accept the initial posting as their priority to get employed.
But once they are confirmed, they put in their request for transfers.” Some bankers say that the new policy might compel banks to review their hiring.
At present, hiring is largely based on merit and the domicile of those qualifying in competitive exams does not often match with the regions where vacancies are.
Sources – The Times of India