Bonds and Probation in Public Sector Banks

With a lot of doubts rising in the minds of selected candidates about the Bonds and Probation, we have decided to dedicate this article that will cater to all the queries you have in your mind. Friends, one phase is over with the declaration of results and this embarks the beginning of new phase that will include Documentation and Medical.

A Probationary Officer in the bank is the starting level appointment for bank officers. The Probationary officers have a one or two years probation period during which they are given training on various vital functions of the bank such as Loans & Advances, Foreign exchange, Credit Rating, Treasury, Risk Management, IT, Marketing etc.

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The probation period can also consider as the learning phase. Hence it is extremely important to be in good conduct, during probation.

Banks have the right to terminate the employee during the probation, if he/she does not fit the position. As such, the probationary officer shall be required to work at2-3 branches during the probation period.

A Bank Clerk, is a financial service professional who serves as the primary point of contact for most bank customers, administering basic banking transactions, documentation and administrative functions.

A clerk has six months probation period during which they are placed at different counters of the banks e.g. savings, deposit, retail loans, cash credit, agricultural loans, credit cards, government business, cash receipt or payment etc. Clerks are the soul of the banks and they are the ones, who interacts with customers and take care of their needs.

Probation Period for Probationary officer- 1 or 2 year

Probation Period for Clerk – 6 months

Bond and It’s Duration

All the selected candidates need to sign a Service bond with the Bank compulsorily in order to get complete the section process.

What is Service Bond?

A written and signed promise to pay a certain sum of money if you do not fulfilled the terms and condition of the company.

As we can see that many candidates resign from the banks after joining in one or two years. So to avoid this Bank starts implementation of this formula which can prevent the candidates to resign from the post within a specific time and period.

Why Bank Ask for Bond?

Bond contains many conditions but the main condition is that you have to serve the Bank for a minimum period of years including the Probationary Period otherwise candidate has to pay the specified amount to the bank in order to get the relieving.

Duration of Bond?

For P .O.: Duration of the bond varies for each bank it can be of 1, 2 or 3 years.

For Clerk: As of now, there are no financial bond restrictions for clerical posts.

Can I break Bond?

Yes, you can. But be aware that you will have to pay the Bond amount before leaving.

What if I complete the Bond Period?

The Term Deposit with the Bank will closed and you are free to resign from the services of the Bank if you want to leave the bank.

7 Reasons to Vote OUT of the EU!

Many people have been grossly misled on matters regarding the European Union. The truth about the EU and what it really represents has not been fully revealed in mainstream media (and probably never will).

The snake oil salesmen senior politicians continue their fear mongering founded on falsehood to get you to vote in favour of staying in the EU. What they will not reveal is their ulterior motives for wanting you to stay in: The massive moneyed interests at stake involving them and a small handful of crony capitalist fat-cats who have them in their pocket.

Having said that, there is an even bigger picture, involving a far greater reason to vote OUT of the EU…

-In light of this here are 7 reasons to vote OUT of the EU on June 23rd.

Voting OUT:

1. Avoids an even greater concentration of power / wealth into the hands of a selective few.

Time after time there have been cases where greater top-down control and centralization of power has involved more corruption, failures and problems. Looked what happened with the Soviet Union. The European Union is no exception.

2. …demonstrates objection to a lack of transparency / accountability

Since the EU the UK, for example, has lost its power to a number of bureaucrats taking tax payers for a ride on the Brussels gravy train.

Thousands and thousands of these bureaucrats have paid themselves a higher wage than the British Prime Minister! They have implemented numerous petty intrusive regulations with all the red tape. -All done without the need to be transparent / accountable to the likes of we-the-people…

3. Will mean taking back your sovereignty

Legislation in the EU is done behind closed doors without the inclusion of parliament. The UK has lost on voting numerous times to the EU bearcats. In short if citizens want their say in matters over legislation in a system that isn’t just undemocratic but anti-democratic then they must vote OUT.

4. Demonstrates not voting for something you don’t understand

Don’t allow yourself to be ruled by a system you don’t understand. Most people are clueless over the admin structure and the who’s who when it comes to the EU even a number of politicians!

5. Means voting to get unstuck from the EU fortress with all its related restrictions

EU regulations / restrictions such as those related to trade deals stifle innovative creative individuals. For example, giant corporations love the EU. The EU’s high-number regulations stop small business competitors from challenging the giant corporations and cannot thrive or survive the onslaught…

6. Means voting for independence again

Don’t be fooled by the political ‘bread and circuses’ offered to you by the con-artist politicians such as offering better phone rates or other little trinkets like cheaper holidays while saying it will be a disaster for trade if we don’t vote IN.

Independence could mean a return of the economic glory days. Trade can not only flourish but there are far better deals outside of the EU fortress with other countries. Besides, EU countries will not simply pull the plug on trade with non-EU business because there’s too much at stake for them to refuse.

Look at the case of Switzerland as a non-EU country and how they continue to flourish as one of the richest countries in the world home to many giant corporations…

7. Demonstrates that you see right through the EU and know that there’s a sinister hidden agenda behind it

More specifically you know that the EU is part of the totalitarian step-by-step advancement towards a global fascist new world order agenda.

The plan is to create a one-world central controlling government, central bank, cashless society which would make life impossible to exist outside of the tyranny, militarized police state, gross uneven distribution of wealth… etc.

The plan for the centralized control involves dividing the world up into major territories: The Pacific Union, the African Union and the European Union…

All in all

Recognise the hidden agenda in the push for joining the EU. Don’t allow yourselves to become victim to the wishes of a heartless control system ran by power mad self-serving psychopaths with moneyed interests.