In exercise of the powers conferred by clause e of sub section 2 of section 32 of the National Bank for Financing Infrastructure and Development Act

6348 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 687] NEW DELHI , FRIDAY , OCTOBER 6, 2023/ ASVIN A 14, 1945 CG-MH-E-09102023-249266 (1) (2) NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT NOTIFICATION Mumbai, , the 5th October , 2023 F. No. 01/NaBFID/2023 -24.—In exercise of the powers conferred by clause (e) of sub -section (2) of section 32 of the National Bank for Financing Infrastructure and Development Act, 2021 (17 of 2021), the Board, with the previous approval of the Central Gove rnment and in consultation with the Reserve Bank, hereby makes the following regulations, namely: — 1. Short title, commencement and application: (1) These regulations may be called the National Bank for Financing Infrastructure and Development (terms and con ditions of service of officers and employees’) Regulations, 2023. (2) They shall come into force on the date of their publication in the Official Gazette. (3) They shall apply to all officers and employees including Fixed Term Employees, other than Managi ng Director and Deputy Managing Directors: Provided the Board shall determine the terms and conditions of service of the employees, officers and fixed term employees posted outside India. 2. Definitions .—(1) In these regulations, unless the context otherwi se requires, — (a) “Act” means the National Bank for Financing Infrastructure and Development Act, 2021 (17 of 2021); (b) “appellate authority” means – (i) the Managing Director, in relations to matters pertaining to officers and employees holding the post of Executiv e Vice President; (ii) Deputy Managing Director in relations to matters pertaining to officers and employees holding the post of Vice President; (iii) Executive Vice President in relations to matters pertaining to officer and employees holding the post below the Vice President; or as may be decided by the Board: Provided that in no case the Appellate Authority and the Competent Authority shall be of the same grade; (c) “competent authority” means – (i) the Deputy Managing Director, in relations to matters pertaining to officers and employees holding the post of Executive Vice President; (ii) Executive Vice president in relations to matters pertaining to officers and employees holding the post of Vice President; (iii) Vice President in relations to matters pertaining to officers and employees holding the post below the Vice President, or as may be decided by the Board: Provided that Competent Authority shall always be of o ne grade above to the officers and employees concern. (d) “deputed officer or employee” means officer or employee of the Institution, as the case may be, taken from or sent to other institution on deputation; (e) “employee” means an employee of the Institution, ap pointed pursuant to sub -section (1) of section 30 of the Act; (f) “fixed term employee” means a person engaged by the Institution under a contract for a fixed period of time, not including deputed employees; (g) “officer” means an employee of the Institution, app ointed pursuant to sub -section (1) of section 30 of the Act; (2) Words and expressions used herein and not defined in these regulations, but defined in the Act or the rules framed thereunder shall have the meanings respectively assigned to them in the Act . 3. Grades of officers and employees .— (1) The Institution may have officers and employees in the following grades namely: - (a) Executive Vice President; (b) Vice President; (c) Senior analysts; (d) Analysts; and (e) Executives; (2) The Board may amend the grade structure on the basis of requirements of the Institution on the recommendation of the Nomination and Remuneration Committee. (3) The pay band for the salaries and allowances payable to the officers and employees on the basis of the grade structure set out above a nd additional facilities, benefits, performance linked incentives and perquisites to be provided to officers, employees and fixed term employees , shall be determined by the Board on recommendation of the Nomination and Remuneration Committee, based on the market practice and requirement of the Institution. (4) The Nomination and Remuneration Committee shall identify and periodically review the roles and responsibilities of the officers and employees having regard to the grade structure and the business o bjectives of the Institution. 4. Recruitment . — The Board shall determine the policy in relation to recruitment and on -boarding of officers, employees, and fixed term employees , having regard to the business requirements of the Institution. 5. Probation .— (1) The Board shall determine the policy in relation to the probation of the officers and employees on the basis of experience, qualification, requirement of the Institution, and as per the market based best practice. (2) The officers and employees s o appointed and mentioned in column number (1) of Table shall be on probation for a period as mentioned in column number (2) of the Table. TABLE Sl. No. Grade Probation period (in months) (1) (2) 1 Executive Vice Preside nt Six months 2 Vice President Six Months 3 Senior Analyst Twelve Months 4 Analysts Twelve Months 5 Executives Twelve Months Provided that the Board may at its sole discretion on the basis of experience, qualification, suitability and as per the requirement of the Institution, increase or decrease or dispense with period of probation as prescribed in respect of any of the grades. (3) No person shall be entitled to confirmation as an officer and employee as a matter of right, either on the basis of completion of period of probation or otherwise. 6. Confirmation .— (1) An officer and employee referred to in regulation 5 shall be confirmed in the service of the Bank, if in the opinion of the competent authority, the officer and employee has satisfactorily completed probation period. (2) If, in the opinion of the competent authority, an officer and employee has not satisfactorily completed probation period as specified in sub -regulation (1) or an employee’s or officer’s service is not satisfactory, then the probation may be extended by a further period as decided by the competent authority but such extension period of probation shall not be more the original probation period as specified in sub -regulation (1). (3) Where during the p eriod of probation, including the period of extension, if any, the competent authority is of the opinion that the officer and employee is not fit for confirmation his services may be terminated by one month’s notice or payment of one month’s emoluments in lieu thereof. 7. Promotion of officers and employees . — (1) Promotion from one grade to another grade shall take place on the basis of suitability, performance and potential of the officer or employee concerned in accordance with the policy of the Insti tution as may be laid down as specified in sub -regulation (3). (2) The seniority shall be considered only for the purpose of determining the eligibility criterion. (3) Having regard to sub -regulation (1) the Board shall determine the policy on promot ion of officers and employees. (4) The policy referred to in sub -regulation (3) shall provide for matters such as performance review procedure, relevant review period and criteria for promotion. (5) No officer and employee shall be entitled to a prom otion as a matter of right, either on the basis of tenure or otherwise. 8. Termination by the Institution . — (1) The competent authority may, by order, terminate the service of any officer and employee for any act of misconduct or non -compliance with th e Act, rules and regulations made thereunder, provided that such order of termination shall be made in accordance with the procedure stipulated by the Board. (2) The Board shall determine the procedure for enquiry and termination of service of an offic er or employee, which shall provide the officer or employee a reasonable opportunity of being heard. (3) Any officer and employee aggrieved by an order of termination made by the competent authority under sub -regulation (1), may prefer an appea l to the appellate authority within forty -five days from the date of such order. (4) The appellate authority may condone the delay and allow an appeal to be filed after the expiry of said period of forty -five days, if it is satisfied that there was suff icient cause for not filing of the appeal but such period shall not exceed ninety days. (5) The appellate authority shall, after giving such officer or employee a reasonable opportunity of being heard, pass such order as it may deem fit, either confirmi ng, modifying or setting aside the order appealed against, or by order remand the case to the relevant competent authority for disposal. 9. Superannuation and retirement . — (1) An officer or employee shall retire on completion of sixty years of age. (2) The Board shall determine the retirement policy applicable to the officers and employees, which shall provide for matters such as premature retirement or voluntary retirement schemes, retirement benefits and the manner in which the date of retirement is to be calculated including in accordance with regulation. (3) Subject to sub -regulation (2), an officer or employee may, through a notice in writing issued to the relevant competent authority, resign from their office: Provided that such officer or em ployee shall serve a minimum notice period sixty days or as may be specified by the Board. (4) The notice period may be waived or reduced as may be specified by the Board. (5) An officer or employee against whom disciplinary proceedings is pending sh all not retire or resign from their office without the prior approval in writing of the competent authority. Explanation : Disciplinary proceedings shall be deemed to be pending against any officer or employee for the purpose of sub -regulations (3) and (4 ) until final orders are passed by the relevant competent authority, if such officer or employee has been placed under suspension or a notice has been issued to such officer or employee in relation to disciplinary proceedings. 10. Fixed Term Employees . — The Board shall determine the policy on terms and conditions of service applicable to fixed term employees, while having regard to the business objectives of the Institution and market practice on matters such as hiring, remuneration, salary, fees, allowan ces, tenure, termination, designation, promotion, retirement and benefits. 11. Types of Leave . — (1)There shall be following type of leaves – (a) casual leave; (b) privilege leave; (c) sick leave; (d) maternity leave; (e) paternity leave; (f) bereavement leave; (g) extraord inary Leave. (2) The Board shall determine the policy for availing above leaves by officers, employees and fixed term employees having regard to market practices, applicable laws and requirements of the Institution . (3) The Board may add, delete, amend , change, increase or decrease the type of leaves or its numbers. 12. Code of Conduct of officers and employees . — (1) Every officer, employee and fixed term employee shall serve the Institution faithfully, diligently and in a manner worthy of their r ole in the Institution. (2) The Board shall frame standards for protection of the integrity and interest of the Institution which shall include – (i) to truly and to the best of one’s skill and ability he shall execute and perform the duties required of him at the Institution and which properly relate to the office or position held by him in the Institution. (ii) not to communicate or allow to be communicated to any person not legally entitled thereto any information relating to the affairs of the I nstitution or to the affairs of any person having any dealing with the said Institution or shall not allow any such person to inspect or have access to any books or documents belonging to or in the possession of the Institution and relating to the business of the said Institution or the business of any person having any dealing with the Institution. (iii) not to demand or encourage taking or giving of dowry. (iv) not to take or give or offer bribe or indulge in any corrupt practices either in business o r in personal matters. (3) The code of conduct and ethics shall be applicable to the officers, employees and fixed term employees at all times. (4) The Board shall determine the policy on requirement and process of disciplinary action. 13. Prohibit ion of sexual harassment at the workplace . — (1) The Board shall determine the policy on prevention of sexual harassment at workplace in accordance with applicable laws. (2) The policy shall make it mandatory for officers and employees not only to preven t and prohibit sexual harassment at workplace but also shall provide officers and employees with an impartial grievance redressal mechanism as per the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2 013 (14 of 2013). 14. Disclosure of pay and salaries . — Pay and salaries, as amended from time to time, paid to its officers and employees shall be displayed on the website of the Institution frequently as may be specified in accordance with the applicab le law. 15. Deputation . — (1) Any officer or employee may be deputed by the Institution for a period not exceeding five years to other institution including an infrastructure finance or development institution. (2) The terms and conditions of service of any officer or employee sent on deputation shall include the following, namely: - (a) the terms and conditions of service during the period of deputation shall be such as may be determined by the Board; (b) in no case officer or employee shall be se nt on deputation to other institution on the terms and conditions which are less favourable than those of his service in this Institution. 16. Residuary provision .— Matters relating to the terms and conditions of service of the officers and employees of the Institution with respect to which no express provision has been made in these regulations, shall be referred by the Board to Central Government for its decision. 17. Interpretation .— If any question arises relating to interpretation of any of the p rovisions of these regulations, it shall be referred to the Central Government for decision and the decision of the Central Government shall be final. SAMUEL JOSEPH JEBARAJ, Dy . Managing Director [ADVT. -III/4/Exty./ 469/2023 -24] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.