Employees Transfer Rules: Now bank employees will have automatic transfer! New rule will be implemented soon

 

Employees Transfer Rules: Department of Financial Services: The suggested changes include allowing banks to automate the transfer process and create an online process for it, as well as giving location preference option to their employees.

PSU Banks Transfer Policy: If you or your friend or relative works 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 these rules should be implemented from the beginning of the financial year 2026 after getting approval from the board.

It will help in preparing a uniform policy.

The Department of Financial Services, in a letter to all public sector banks (PSBs), said that the transfer policy has been reviewed. This will promote more transparency. This will then help in preparing a uniform policy. Some of the suggested changes 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.

Complaints received from employees should be resolved

The letter said 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’s advice said that PSBs 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 policy more transparent. This will enable employees to know why and how they will be transferred. Apart from this, many banks are doing the transfer process in automation mode. Banks also give employees the option to give their choice regarding the place of transfer policy. There is an effort to transfer women employees working in banks to nearby stations.

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the ...
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the I...
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5...
Read more