Employees in sensitive positions should go on ‘mandatory’ leave: RBI tells banks – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/money-and-banking/employees-in-sensitive-positions-should-go-on-mandatory-leave-rbi-tells-banks/article35236304.ece?homepage=true


‘No prior intimation’ in the instructions aimed at maintaining an element of surprise

The Reserve Bank of India (RBI) has asked banks to compulsorily send employees posted in sensitive positions or areas of operation on ‘mandatory leave’ for a few days (not less than 10 working days) in a single spell every year without giving any prior intimation to them.

This directive has been prescribed as part of ‘mandatory leave’ policy for bank employees posted in sensitive positions or areas of operation such as treasury, currency chests, risk modelling, and model validation.

Element of surprise

The earlier circular (April 23, 2015) on ‘Mandatory Leave for Employees Posted in Sensitive Positions or Areas of Operation’ did not have the ‘element of surprise’ part in it. That means employees could decide when they want to go on the annual mandatory leave.

The central bank said banks have to ensure that the employees, while on ‘mandatory leave’, do not have access to any physical or virtual resources related to their work responsibilities, with the exception of internal/ corporate e-mail, which is usually available to all employees for general purposes.

The RBI said banks should, as per a board-approved policy, prepare a list of sensitive positions to be covered under ‘mandatory leave’ requirements, and the list has to be reviewed periodically. Implementation of this policy should be reviewed under the supervisory process.

The central bank said its revised instructions on mandatory leave for employees will be applicable to all banks. They have comply with these instructions within six months.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s