The Union Finance Ministry has directed Public Sector Banks (PSBs) to reform their transfer policies by incorporating several measures, with implementation slated to begin in FY26.
The ministry aims to establish a uniform, non-discretionary transfer policy across all PSBs. Banks have been instructed to automate the transfer process and develop an online system, allowing employees to indicate location preferences.
Additionally, the said banks have been advised to prioritize transferring women employees to nearby locations and address employee grievances regarding transfer policy violations in a considerate manner.
The reforms are intended to enhance transparency and fairness in the transfer policies of PSBs, as stated in the ministry’s communication.