Dear all,
I want to know what will happen if anybody is not in a position to continue banking service in a nationalized bank. As per the appointment letter, if one fails to serve the bank for three years, according to the bond, the candidate has to pay one lakh rupees to the bank. However, as per the Department of Public Enterprises guidelines, the bond is transferable, but the bank says they are not covered by the guideline. In a case where one has been selected in a government company or government organization through the proper procedure, what is the remedy?
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I want to know what will happen if anybody is not in a position to continue banking service in a nationalized bank. As per the appointment letter, if one fails to serve the bank for three years, according to the bond, the candidate has to pay one lakh rupees to the bank. However, as per the Department of Public Enterprises guidelines, the bond is transferable, but the bank says they are not covered by the guideline. In a case where one has been selected in a government company or government organization through the proper procedure, what is the remedy?
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Bond letter.doc