New Delhi: The Reserve Bank of India (RBI) has directed banks to send important staff on a minimum of 10 days of surprise leaves. RBI’s motive behind sending a select staff on leaves for a few days is to tighten the noose on its risk management guidelines, aiming to reduce the number of bank frauds in India.
Moreover, RBI has also asked banks to ensure that the employees sent on special leaves don’t have any access to banking operations via any physical or virtual resources during the holidays.
"Banks shall 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 email which is usually available to all employees for general purposes," RBI said in its notification.
However, this is not the first time when RBI had directed banks to send its employees on special leave to increase the scrutiny on bank’s operations to tame the rising number of frauds. Previously, RBI came up with a similar advisory in April 2015.
Who will get special holidays?
According to an RBI notification, only a few bank employees in sensitive positions will be sent on special leave. "Employees posted in sensitive positions or areas of operation shall be compulsorily sent on leave for a few days (not less than 10 working days) in a single spell every year, without giving any prior intimation to these employees, thereby maintaining an element of surprise," the RBI’s notification read. Also Read: Petrol, Diesel Prices Today, July 11, 2021: Petrol above Rs 100 in metros, check rates in your city
All the banks will have to follow the revised RBI instructions within six months. RBI has also asked banks to decide which employees fit the bill under mandatory leave requirements at their board meeting. Also Read: G-20 finance ministers back plan to stop use of tax havens