Bankers working in touchy positions, including treasury operations and currency chests, will get a surprise holiday of a minimum of 10 working days in a unmarried spell annually under the modified risk management guidelines of the Reserve Bank of India (RBI).
As a prudent operational risk management measure, banks must have a “mandatory leave” policy wherein the employees posted in “touchy positions or areas of operation shall be compulsorily sent on leave for a couple of days (not less than 10 working days) in a unmarried spell annually”, the RBI said in a notification on Friday. This must be done “without giving any prior intimation to these employees, thereby maintaining an element of surprise”, it added.
The RBI gave banks six months to conform with these directions. The revised norms repeal the circular dated April 23, 2015.
Banks have been told to make sure that the employees, while on “mandatory leave”, should not have access to any physical or virtual resources related to their work, with the only exception being internal/corporate email, which is typically to be had to all employees for general purposes. Banks will also prepare a list of touchy positions to be covered under “mandatory leave” requirements and the list will be reviewed periodically. The implementation of this policy will be reviewed under the supervisory process.
Touchy positions or areas of operations covered under the ‘mandatory leave’ policy include treasury, currency chests, risk modelling, and mannequin validation, according to the 2015 circular.
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