Guidelines for Promotions in Public Sector Banks – 2013-14

Government of India
Ministry of Finance
Department of Financial Services
Jeevan Deep, Parliament Street, 
New Delhi, dated the April 4, 2013
The Chairman and Managing Directors of PSBs

Subject: Guidelines for Promotions in Public Sector Banks – 2013-14

I am directed to refer to this Department’s letter number 4/1 1/1/2011-FR dated 14th March, 2012, 3rd May, 2012 and 15th June, 2012 on the subject cited above and to say that the references received from several banks regarding relaxations for promotions for the year 2013-14 have been examined in this Department.
2. It has been decided that Banks can, with the approval of their Boards, provide relaxations, if required, in the guidelines on promotions. Reasons for any such relaxation/deviation must be properly recorded in the minutes of the Board meetings.
3. However, any relaxation/change in the following provisions in the promotion guidelines referred to in para 1 above would require prior approval of the Government:-

a) Minimum experience requirement at each scale. However, Banks may with the prior approval of their Boards provide a further relaxation of 3 months in the minimum experience requirement at each scale.
b) Minimum requirement of APAR marks. However, Banks may, with the prior approval of their Board, relax the requirement of marks in APAR to an average of 75% marks of APAR with minimum 60% in each preceding five years.
c) The requirement of rural/semi urban experience. However, Banks may decide with the prior approval of their Boards, if the stipulated tenure of rural/semi-urban experience is required to be continuous or in parts.
d) The requirement of length of service in specialized cadre before promotion or prior to joining the mainstream cadre.
e) The requirement of the zone of consideration. However, Banks may with the prior approval of their Boards relax the Zone of consideration so as to include all officers promoted on the same date/batch.
4. Banks are advised to take appropriate action in the matter with due approval of their Board of Directors.
5. This issues with the approval of Secretary (FS).

Yours faithfully,
(Vijay Malhotra) 
Under Secretary to the Government of India
Source: http://financialservices.gov.in/ncapp/Circulars.aspx?ct=B [click here]

Stay connected with us via Facebook, Google+ or Email Subscription.

Subscribe to Central Government Employee News & Tools by Email [Click Here]
Follow us: Twitter [click here] | Facebook [click here] Google+ [click here]