(1)No officer employee shall use his position or influence directly or indirectly to secure employment for any person related, whether by blood or marriage to the employee or to the employee’s wife or husband, whether such a person is dependent on the employee or not.
(2)No officer employee shall, except with the prior permission of the competent authority permit his son, daughter or any other member of his General Observance of Secrecy Employment of Members of Family in Firms Enjoying the Bank’s Clientage and Grant of Facilities to such Concerns family to accept employment in any private undertaking with which he has official dealings or in any other undertaking having to his knowledge official dealings with the bank;
Provided that where the acceptance of the employment cannot await prior permission of the competent authority or is otherwise considered urgent the matter shall be reported to the competent authority within 3 months from the date of the receipt of offer of employment (Staff Circular No.2267 dated 28.7.93) and the employment may be accepted provisionally subject to the permission of the competent authority.
(3)No officer employee shall, in the discharge of his official duties, knowingly grant or authorize the grant of any advance or banking facilities to or enter into or authorize entering into by or on behalf of the bank any contract, agreement, arrangement or proposal in any matter or given or sanction any contract or loan to any undertaking or person if any member of his family is employed in that undertaking or under that person or if he or any member of his family has interests in such matters or contracts in any other manner and the officer employee shall refer every such matter or contract or loan to his superior officer and the matter or contract or loan shall thereafter be disposed of according to the instructions of the authority to whom such reference is made.
EXPLANATION: A person is not deemed to have any interest in an undertaking for the purpose of this sub-regulation, if he is only a shareholder having not more than 2 per cent of the paid up capital of the undertaking in his name.