Postpone promotion process in view of Covid: Finance Ministry to State-run banks, insurers

Finance Ministry

The Union finance ministry has directed all public sector banks and insurers to consider postponing the promotion process in the wake of the Covid-19 pandemic situation.

The ministry said that the officers and staff of the public sector financial intermediaries, public sector banks (PSBs), public sector insurance companies (PSICs) and financial institutions (FIs) are likely to get adequate opportunity to participate in the promotion process, later.

It suggested postponing the process in a bit to avoid any constrains.

A report published in The Hindu Business Line quoted Sanjeev K Bandlish, Convenor, United Forum of Bank Unions (UFBU). Bandlish, in a letter to the finance ministry, said: “In the current wave that is sweeping across the nation, we are distressed to note that already several bank employees and officers have died. It is shocking to note that some of them could not even get admitted to hospitals due to the dearth of beds.”

In the written request, Bandlish suggested Government to consider five-day working week.

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