INSTRUC TIONS N BOND TRANSFER IN PSUs
7 months ago
MINITRY OF PERSONNEL & TRAINING AND MINISTRY OF ENTERPRISES HAS SOME INSTUCTION ON BOND TRANFER FOR PSU EMPLOYES WHICH ARE MENTIONED IN THE LINK
https://doptcirculars.nic.in/OM/ViewOM.aspx?id=330&headid=10
BUT UNION BANK OF INDIA REFUSES TO FOLLOW THESE CAN I TAKE ANY ACTION ABOUT IT OR NOT.
A.Dear client,
Union Bank of India is one of the leading public sector banks of the country.
Employees of a public sector undertaking (PSU) are not government servants. The expression “government servants” includes employees working directly under the central government or any of the state governments or the Government of a union territory.
Union Bank of India is one of the leading public sector banks of the country.
Employees of a public sector undertaking (PSU) are not government servants. The expression “government servants” includes employees working directly under the central government or any of the state governments or the Government of a union territory.
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A.Dear Client,
Public Sector Undertakings (Banks) are a major type of government-owned bank in India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India. Union Bank of India is one of the leading public-sector banks of the country. The Bank is a listed entity, and the Government of India holds 76.99 percent in the Bank's total share capital. the SBI is treated as a public sector bank and its employees are treated as government employees because the government of India has a 57.6% shareholding in SBI bank. So, considering the ratio of the Govt. stake/share in the capital of both the Bank, they may be treated at par. Both Public Sector Banks(PSB) and private Banks are regulated by the guidelines of RBI. Typically, employees of a public sector undertaking (PSU) are not government servants. The expression “government servants” includes employees working directly under the central government or any of the state governments or the Government of a union territory. Accordingly, employees of the public sector banks (PSBs) are called as employee of the concerned bank and not government employees. So, the Circular or OM dated 22/12/2022 of the DOPT clarifying the bond-related issue is concerned, it is applicable to the Central and State Govt. servants/employees. You may escalate the matter before the DOPT, Ministry of Personnel, Public Grievances & Pensions as well as regulatory authority RBI to access their views on the subject and decide your course of action in the matter.
Public Sector Undertakings (Banks) are a major type of government-owned bank in India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India. Union Bank of India is one of the leading public-sector banks of the country. The Bank is a listed entity, and the Government of India holds 76.99 percent in the Bank's total share capital. the SBI is treated as a public sector bank and its employees are treated as government employees because the government of India has a 57.6% shareholding in SBI bank. So, considering the ratio of the Govt. stake/share in the capital of both the Bank, they may be treated at par. Both Public Sector Banks(PSB) and private Banks are regulated by the guidelines of RBI. Typically, employees of a public sector undertaking (PSU) are not government servants. The expression “government servants” includes employees working directly under the central government or any of the state governments or the Government of a union territory. Accordingly, employees of the public sector banks (PSBs) are called as employee of the concerned bank and not government employees. So, the Circular or OM dated 22/12/2022 of the DOPT clarifying the bond-related issue is concerned, it is applicable to the Central and State Govt. servants/employees. You may escalate the matter before the DOPT, Ministry of Personnel, Public Grievances & Pensions as well as regulatory authority RBI to access their views on the subject and decide your course of action in the matter.
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