PNB denies transferring 18,000 employees

Punjab National Bank took to Twitter to refute reports of transferring 18,000 employees in wake of Rs 11,000 crore scam involving Nirav Modi. 

In a clarification issued by the bank, PNB said that it had transferred a total of 1,415 employees since February 19.

pic.twitter.com/FJEr2Ci5MM

— Punjab National Bank (@Indiapnb) February 22, 2018

“There have been reports appearing in the media that the Bank has transferred close to 18,000 employees, the same is factually incorrect,” the bank said in a press statement. 

“The bank has transferred 257 Sub Staff, 437 Clerks and 721 Officers (Total 1415 employees) since 19th February 2018, as per prevailing Rotational Transfer Policy of the Bank," the bank said.

Earlier it was reported that Punjab National Bank (PNB) had transferred close to 18,000 employees, or 25% of its total staff, after the Rs 11,000 crore alleged scam came to light at its Mumbai branch, bank employees union National Organisation of Bank Workers claimed on Wednesday.

The mass transfers reportedly came following an order of the Central Vigilance Commission (CVC) asking the banks to transfer employees who have completed required number of years in a branch. The CVC on Monday directed all the public sector banks to transfer the officers who have completed three years in a branch as on December 31, 2017.

As per Central Vigilance Commission guidelines, all officers have to be rotated every three years.

The PNB has a total of about 70,000 employees in its 7,000 branches across the country.