(1) During each block of four years, an officer shall be eligible f or leave travel concession for travel to his home town once in each block of two years. Alternatively, he may travel in one block of two years to his home town and in the other block to any other place in India by the shortest route.
(2) Once in every four years, when an officer avails of leave travel concession, he may be permitted to surrender and encash his privilege leave not exceeding one month at a time. For the purpose of such encashment, pay, dearness allowance and house rent allowance shall alone be admissible.
(3) The mode and class by which an officer may avail of leave travel concession shall be the same as in the case of travel on transfer and other terms and conditions subject to which the leave travel concession may be availed of by an officer, shall be decided by the Board from time to time.
(4) An officer, who has been absorbed in the Exim Bank’s service from the Development Bank or any other institution as may be approved in this behalf by the Chairman and Managing Director shal l be eligible for Leave Travel Concession for that block of four years which he has not availed of in that Bank. The terms and conditions for availing Leave Travel Concession for such block will be prescribed by the Competent Authority.
Provided that the Chairman and Managing Director may, in his sole discretion, extend the aforesaid facility of availing the unavailed leave travel concession block from the previous employer to a directly recruited officer. The extension of the aforesaid facility shall be applicable only in those cases where it has been specifically extended by the Chairman and Managing Director and not otherwise.
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CHAPTER VII TERMINAL BENEFITS PROVIDENT FUND :