Section 21 in National Housing Bank Employees (Conduct) Regulations, 1994
21. Restrictions on borrowings and lending.
- No employee shall in his individual capacity(i)borrow or permit any member of his family to borrow or otherwise place himself or a member of his family under a pecuniary obligation to a broker or a money lender or a subordinate employee of the National Housing Bank or any person, association of persons, firm, company or institution, whether incorporated or not, having dealings with the National Housing Bank;(ii)buy or sell stocks, shares or securities of any description without funds to meet the full cost in the case of a purchase of scrips of delivery in the case of a sale;(iii)incur debts at a race meeting;(iv)lend money in private capacity to a constituent of the National Housing Bank or have personal dealings with such constituent in the purchase or sale of bills of exchange, Government paper or any other securities; and(v)guarantee in his private capacity the pecuniary obligations of another person or agree to identify in such capacity another person from loss except with the previous permission of the competent authority:Provided that an employee may, give to or accept from a relative or personal friend a purely temporary loan of a small amount free of interest or operate a credit account with a bona fide tradesman or make an advance of pay to his private employee :Provided further that nothing in this regulation shall apply to a loan which an employee may obtain from a co-operative credit society of which he is a member or stand as a surety in respect of a loan taken by another member from a co-operative credit society of which he is a member.
