Ref No. IPPB/HR/2021-22/06 June 17, 2021 C I R C U L A R / 0 6
Board in its 38th meeting held on November 13, 2020 has approved amendments in existing Lease Policy of the Bank with immediate effect. The revised Lease Policy for officers of India Post Payments Bank is annexed as Annexure-A.
Leased Accommodation Policy
1. Scope and Coverage
This scheme covers all officers including officers on deputation in India Post Payments Bank.
2. Definition
a. "Bank" means India Post Payments Bank;
b. "Board" means the Board of the Bank;
c. "Competent Authority" means the authority who is empowered by the Management of the Bank by an order to discharge functions or use the powers specified in the rule or order;
d. "Government" means the Government of India;
e. "CEO/ MD" means the CEO/ Managing Director of the Bank;
f. “Management” means the Board and the CEO/ Managing Director and includes such individuals or group of individuals as may be defined by the Board;
g. "Officer" means a person fitted into or promoted to or appointed to any of the grades specified in Clause 3 of the Service Rules;
h. “Major ‘A’ category city” means cities/ places with population more than 45 lacs (as per 201 l census);
i. “‘A’ category city” means places with population over 12 lacs and upto 45 lacs (as per 2011 census);
j. “‘B’ category city” means places with population over 5 lacs and upto 12 lacs (as per 2011 census);
3. Lease Ceiling
a. Leased accommodation is provided to Officers on lease basis with following ceiling (all figures are in INR):
