Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has prepared a draft amendment to the Employees Bylaw to make the service, security, transparency and labour rights of the employees working in the banks and financial institutions more systematic.

The draft prepared by the Nepal Rastra Bank has proposed new provisions ranging from keeping the Chief Executive Officer (CEO) and senior management posts vacant for a long time, employee safety, compulsory leave, whistleblowing system and overtime arrangements.

As per the proposed provision, banks and financial institutions are barred from keeping CEO and other top managerial posts vacant for more than three months. In case of any vacancy, the appointment should be made within three months, according to the NRB.

The draft has made it clear that it will be the duty of the employees to know about the service conditions mentioned in the bylaws. Similarly, provisions have been made in the bylaws to be published in such a way that it is easily accessible to all employees.

The Board of Directors will determine the organizational structure of the banks and financial institutions. If a change in the structure is required, the committee can take a decision on the basis of organization and management survey. Similarly, the strategic plan, business plan, human resource plan, hierarchy structure and succession plan will be the basis of determining the positions of the organization.

Advertisement, shortlisting and written examination can be conducted through other organizations if necessary while advertising for the fulfillment of the post. In addition, all advertisements should be published on the website of the bank or financial institution. A provision has been proposed to give more weightage to performance evaluation than other grounds in internal promotion.

The amount to be deducted from the salary of the employees and deposited by the organization shall be deposited in the concerned fund every month in accordance with the prevailing law. According to the law, an organization that can operate the fund by getting exemption will also have to set aside the minimum limit amount. However, it has been mentioned that the existing system can be continued if the amount in circulation exceeds the legal limit.

As per the provision, every employee will be provided with an amount equivalent to a month’s salary and allowances for the main festivals celebrated in accordance with his/her religion, culture and tradition. This facility will be provided on the occasion of Bada Dashain if the employees do not make a written request.

It has been proposed that female employees will be entitled to 14 weeks i.e. 98 days of full-paid maternity leave either before or after delivery. Other leave can be adjusted if necessary and additional leave can be provided for a maximum of one year on the recommendation of the doctor.

It has been proposed that employees should be given at least seven days of compulsory leave every year in addition to other holidays with full facilities. The draft has a provision that such leave should be taken continuously and cannot be accumulated.

There is a clear provision that the employees will not be allowed to take personal benefits or carry out financial transactions that benefit them by luring the customers into taking loans. Similarly, employees are not allowed to be directly or indirectly involved in the auction promotion and loan recovery process by banks, financial institutions, debt recovery tribunals or other bodies.

Provision has also been proposed that an employee can appeal to a higher body if he disagrees with the decision related to the service. In addition, employees will have to be compulsorily insured against all types of accidents that may occur during travel or office work.

Banks and financial institutions should operate whistleblowing system to uncover cases of fraud, corruption, irregularities, misuse of position or other misconduct. Provision has been made that no discrimination, pressure, intimidation or unfair action can be taken against the employees who provide information through this system.

A code of conduct on prevention of sexual harassment should be formulated and implemented to make the workplace safe, fair and dignified. The sub-committee to be formed for the hearing and monitoring of such complaints will have at least two women and two male members.

In order to make the labour relations systematic, a labour relations committee should be formed with four members from the management side and at least one from the trade union or employees’ side.

Similarly, employees will not be allowed to work overtime for more than 24 hours a week. KATHMANDU: Nepal Rastra Bank (NRB) has given 15 days to the banks and financial institutions (BFIs) to furnish suggestions on the draft of the model bylaws.