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IPPB Leased Accommodation Policy | Revised/latest Lease Policy for officers of India Post Payments Bank (IPPB) is annexed as Annexure-A-2021

 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):

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