India's Finance Ministry updates bank transfer policies to enhance transparency and employee safety.

The Indian Finance Ministry has instructed public sector banks (PSBs) to update their transfer policies to enhance transparency and uniformity. The new guidelines, set for implementation in 2025-26, include automating the transfer process, creating an online system for location preferences, and ensuring transfers are completed by June each year. The changes also aim to improve employee safety by accommodating transfers based on linguistic regions and employee grievances.

November 26, 2024
5 Articles