Terms & Conditions for Empanelment

1. Scheme

Empanelment of Retired Officials (Scale I to Scale IV) of Public Sector Banks and RRBs for assisting in the Bank to carry out Assignments like RBIA, Revenue Audit, Stock Audit and Special Audits.

2. Scope of Work

To assist the Bank to carry out Assignments like RBIA, Revenue Audit, Stock Audit and Special Audits.

3. Eligibility

  • Retired Officers of the Public Sector Banks, RRBs on Superannuation / VRS in Scale I to Scale IV. He/ she should not have retired under CRS/any punishment.
  • Age should be below 63 years as on 01.01.2024 (i.e., candidates born on or after 01.01.1961 are only eligible).
  • Should have good track record, experience of minimum 20 years of service in any Public Sector Bank, RRB and should not have imposed any major penalty during their last 5 years of service prior to retirement.
  • The Applicants should not have been imposed with any punishment during their entire service for any misconduct which was treated as one attracting a vigilance angle.
  • Preference shall be given to those who have good exposure to credit & who have worked as Branch Heads, Credit department either in Branches or administrative Offices.
  • He / She should be in sound health both physically & mentally and should be able to travel distant Branches / places for inspection and security verification.
  • Should possess adequate computer knowledge and should be able to handle computers independently.
  • Should have worked in a CBS environment and should be familiar with the CBS package.
  • Should have high sense of involvement, sense of belonging to the institution and should have the ability to motivate others.

4. Period of Empanelment

  • Initially the contract shall be for a period of three years. This contract is subject to yearly review and continuation of the contract is based on satisfactory performance of the officer.
  • The official shall not be eligible for any leave, other benefits, other allowances or perquisites.
  • The official shall be eligible for remuneration for the intervening holidays provided they have worked on the preceding and succeeding working days.
  • Applicable TDS shall be deducted from the remuneration.
  • The official shall be eligible only for pro-rata payment of monthly remuneration under the following circumstances.
    (a) When the official is not able to take up the assignments due to health grounds, personal leave, etc.
    (b) When the Bank is not able to utilize the services of the official for full calendar month due to administrative exigencies.
  • The officials shall be eligible for TA/DA as applicable to all the regular officials of the Bank.
  • The officials shall not be eligible for any conveyance allowance/ reimbursement if they are taking up assignments in the Headquarters for which they are selected.
  • The official shall not be eligible for any Advance.
  • TA/DA claims to be made on a monthly basis to the Head Office.
  •  Managing Director shall be the sanctioning authority for TA/DA claims