(1).No officer employee shall except with the previous sanction of the bank, engage directly or indirectly in any trade or business or undertake any other employment;
Provided that an officer employee may , without such sanction undertake honorary work of a social or charitable nature or occasional work of a literary, artistic, scientific, professional, cultural, educational, religious or social character, subject to the condition that his official duties do not thereby suffer; but he shall not undertake, or shall discontinue such work if so directed by the competent authority after recording reasons for the same..
(Amended vide Staff Circular No. 2639 dated 31.12.2002) EXPLANATION: Canvassing by an officer employee in support of the business of insurance agency or commission agency, owned or managed by a member of his family shall be deemed to be a breach of this sub-regulation.
Taking up Outside Employment
(2) Every officer employee shall report to the bank if any member of his family is engaged in a trade or business or owns or manages an insurance agency or commission agency.
(3) No officer employee shall, without the previous sanction of the bank, except in the discharge of his official duties, take part in the registration, promotion or management of any bank or other company which is required to be registered under the Companies Act, 1956 (1 of 1956) or any other law for the time being in force or any co-operative society for commercial purposes :
Provided that an officer employee may take part in registration, promotion or management of a co-operative society registered under the Co-operative Societies Act, 1912 (2 of 1912) or any other law for the time being in force, or of a literary, scientific or charitable society registered under the Societies Registration Act, 1860 (21 of 1860) or any corresponding law in force.
(4) No officer employee shall accept any payment in the form of fee, remuneration, honorarium and the like in cash or kind for any work done by him for any public body or any private person without the sanction of the competent authority.
(Amended vide staff circular No.2639 dt. 31.12.2002)
(5) No officer employee shall act as an agent of, or canvass business in favour of an Insurance Company or Corporations in his individual capacity.