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ALLAHABAD BANK

Personnel Administration Department


(Human Relations Section)
Head Office : 2, Netaji Subhas Road, Kolkata 700 001

Instruction Circular No.11759 /ADMN(HR)/2011-12/13 Date : 06-02-2012

To All Offices & Branches

CIRCULAR

Human Resources Development Policy of Allahabad Bank

The Board of Directors in the Board Meeting held on 16-01-2012 has approved
the Human Resources Development Policy of the Bank.

The detailed Policy is enclosed as ANNEXURE-I for information of all concerned.

Hindi version of this Circular will follow.

(V. S. Krishna Kumar)


General Manager (HR)
ANNEXURE I

Human Resources Development Policy of Allahabad Bank

The Human Resources system is a much more dynamic concept than traditional personnel
functions in an organization. It not only deals with the personnel functions, but also helps the
organization in effectively redesigning the business strategies and realizing the objectives, in
order to clinch an edge over other competitors in the market. The concept of human resources
system assumes that human resource is a great asset of the organization. In fact, they are the
main contributors towards achievement of the organizational goals. This positive view that the
people working in the organization are an asset with unlimited potential is the core concept of
human resources system. Investment in these resources is important and the more an
organization invests in its human resources, the greater would be the return from the investment.
This realization of the need for continuous investment in the human capital and substantial return
thereof is an important concept of human resources system. Hence, it is essential to have an
effective and pragmatic Human Resource Development Policy at this crucial juncture of
transformation of business strategies of the Bank to clinch a competitive edge in the changing
Banking scenario.

2. Human Resource Development Policy is a Macro Policy with a wide perspective to be treated
as a long term statement containing the managements philosophy and basic beliefs with the
directions in which the Human Resources Development of the Bank will be re-oriented, re-
designed and practised as a strategy in order to suit the needs of the changing business plan of
the bank in todays competitive banking scenario. This gives a sense of direction as to how the
management perceives and deals with its personnel, unions/associations, RBI, Govt. and public
at large including the existing clientele as well as the prospective customers of all segments of
banking.

3. As Human Resources Management (HRM) deals with the people dimension in business
management, the role of HRM calls to be treated as Business Strategic Partner in the
organization with the onus of identifying its key role with clarity in the context of organizational
working as well as contributor to the organizations strategy. Strategic HR practices in alignment
with the business strategies would help the Bank in achieving long term as well as short term
goals through optimum utilization of human resources.

4.With this end in view, HR Vision and HR Mission of the Bank are set out as under:-

HR VISION

The Bank would strive towards formulating strategic HR practices ensuring


optimum utilization of the human capital in alignment with the Business strategies
towards achievement of the corporate goal and emerging as world class service provider,
while fulfilling the individual aspirations.

HR MISSION

 To build up a pool of motivated HR Team with passion to achieve business


excellence through collective efforts,
 To groom the personnel towards aligning their mindset with the changing needs of
the Organization,
 To sharpen the skills of the personnel in managerial and leadership competencies,
 To adopt the best HR strategies and practices towards building up of a WINNING
HR TEAM.

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5. Allahabad Bank is the oldest Public Sector Bank of the country. The Bank has been subjected
to many ups and downs during its long sojourn and has survived the test of the time due to its
inherent resilience and vitality. The Bank has inherited a unique organizational culture in terms of
strengths and weaknesses, talent, potentialities, innovation, public trust, commitment, teamwork,
leadership etc. In the present juncture, when the Banking has been undergoing radical
transformation, it has become imperative for the Bank to sharpen its competitive edge by
becoming cost and quality conscious and resource efficient. The genesis of competitive
advantage rests in continuously responding to the dynamic environment by strategically adjusting
its resources and search for flexible, resilient people who would lead the organization in the
global environment. While the Bank has been effectively coping up with the changing business
profile in the emerging banking scenario of the country and the globe at large , continuous
endeavour is being made to sharpen the human capital of the Bank towards addressing the
various HR Challenges like,

(i) Capacity Building i.e Improving the quality of Manpower at various levels and
Quality of Leadership,

(ii) Improving productivity and Performance culture,

(iii) Building Talent Management practices ,

(iv) Developing ownership, accountability, professionalization and institutional for


sustained human capital management and

(v) Improving the quality of HR processes and HR sub-systems such as


(a)Performance Management,(b)Recruitment (c)Career Planning &
deployment,(d) Succession Planning,(e) Leadership Development and
Training,(f)Welfare measures,(g) Employee motivation,etc.

6. Accordingly, following policies/schemes relating to HR are already under implementation


focusing on the aforesaid HR Vision of the Bank :-

(i) Recruitment Policy with the approval of the Board towards addressing the Manpower
requirement of the Bank including in the areas of specialization with the leverage to
induct fresh talent through campus recruitment from reputed Management
Institutions/Universities.

(ii) Promotion Policy of officers with the approval of the Board towards meeting effective
succession plan, career path, optimum age profile and infusing synergy and
dynamism among the officers.

(iii) Transfer and Placement Policy of officers as well as award staff employees towards
meeting the Banks requirement for effective deployment with a view to enrich the
staff / officers in the functional areas.

(iv) Staff Welfare Policy with the approval of the Board envisaging various welfare
schemes such as (a)Scheme for Group Mediclaim Insurance Policy with Group
Personal accident coverage(b)Death Relief Scheme for payment of Rs. 1.00 lakh of
ex-gratia to the family of officer/employee dying in harness (c) Financial assistance to
the Retired Officers and Employees for Group Mediclaim Insurance Policy
coverage(d)Transit Quarter for treatment of patients at various important centers
(e)Annual General Health Check up facility to the eligible employees and
officers(f)Scheme for extending financial relief to Physically challenged
employees/officers for purchase of Crutches and other accessories,(g)Scholarship to
the wards of the officers/employees for excellence in educational studies,(h)Financial
Assistance for upbringing and treatment of mentally challenged children of the

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officers/employees, (i) Reimbursement of expenses on food and beverages to the
employees/officers, (j) Facility of Medical Consultancy at Head Office, Zonal Offices,
Staff Colleges/Staff Training Centers, (k) Sports and Cultural activities vis--vis
celebration of Allahabad Bank Family Day.(l) Financial Relief for HIV/AIDS affected
officers/employees.

(v) Mandatory Leave Policy for employees/officer.

(vi) Training and Skill upgradation of employees/officers by providing in-house, external


as well as overseas training/exposure. Bank has also initiated the e-learning portal
to augment the outreach of the training system and also to facilitate re-skilling of
personnel on continuous basis.

(vii) Grievance Redressal Mechanism by way of holding Industrial Relations Machinery


and Management Relations Committee meetings with the majority Workmen Union
and Majority Officers Association respectively and also informal meetings and
discussions with other workmen union, officers organization, SC/ST Welfare
Association towards developing and maintaining harmonious industrial relations
climate through out the system.

(viii) An objective and effective Annual Performance Appraisal system facilitating


identification of the potential officers/executives and Leadership Development.

(ix) E-Helpline Scheme.

(x) Staff suggestion scheme.

(xi) Performance Incentive Scheme.

(xii) Publication of House Journal TRIVENI DHARA.

7. Updation of the above policies/schemes in tune with the changing needs of the
organization and also formulation of new policies/schemes related to HR towards
achievement of the corporate objectives will be undertaken from time to time.

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