As
you are aware adoption of effective human resource management
and development policies is vital for achieving the organizational
goals and objectives. In this connection State Bank has been
encouraging banks to put in place well-defined policies for
various areas of operations including recruitment, career
progression and severance of the employees. It has, however,
been observed that these instructions have not been meticulously
followed by some of the banks.
Keeping in view the importance of the matter it is desirable
that all the banks must put in place a comprehensive personnel
policy. Accordingly, you are advised to formulate a clearly
defined personnel policy, duly cleared by your Board of Directors,
covering, interalia, recruitment procedures, compensation,
performance evaluation, promotion, separation, training, service
rules, etc. and submit a copy of the same to the State Bank
for approval. The requisite policy should reach this Department
latest by 30th June, 2001.
Please acknowledge receipt.
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