Why RBI Mandates Compulsory Leave for Staff in Sensitive Banking Positions

The Reserve Bank of India (RBI), on July 8, 2021, issued updated instructions directing banks to implement a robust ‘Mandatory Leave’ policy for employees posted in sensitive positions or critical areas of operation. These revised guidelines replace (and repeal) the earlier RBI circular DBR.No.BP.BC.88/21.04.048/2014-15 dated April 23, 2015, reflecting the regulator’s renewed focus on operational…

Special & Extraordinary Leave in Banks: Quick Guide for Staff (FAQs)

Banks provide for certain categories of special and extraordinary leave to employees, in addition to regular leave entitlements, to support social welfare initiatives, sporting activities, and personal exigencies. The key provisions are outlined below. This FAQ explains the special and extraordinary leave facilities available to bank employees, beyond regular leave entitlements. — 1. Who can…