Section 14(2) in National Housing Bank (Officers') Service Regulations, 1997
(2)(a)An officer shall not leave or discontinue his service in the Bank without giving a notice in writing of a period of not less than 3 months to the competent authority. Provided that the Competent Authority, may at his discretion, reduce the period of 3 months or waive the requirement of notice.(b)In case no notice has been given by the concerned officer under clause (a) such officer shall be liable to pay to the Bank and the amount equal to his substantive pay for the period of notice required of him.(c)An officer who has attained the age of 50 years may voluntarily retire after giving to the Competent Authority three months' notice in writing.Provided that this regulation shall not apply to an officer who is on deputation abroad, unless, after having been transferred or having returned to India he has resumed the charge of the Post in India and served for a period of not less than one year.Provided further that this sub-regulation shall not apply to an officer who seeks retirement form, service for being absorbed permanently in an autonomous body or a public sector undertaking to which he is on deputation at the time of seeking voluntary retirement.(d)The competent authority may, if so requested by the officer retiring pursuant to sub-regulation (2)(c) waive the notice of voluntary retirement with respect to its full period or part thereof if the Competent Authority is satisfied that such waiver will not cause any administrative inconvenience.
