Section 15 in State Bank of India Employees Pension Fund Regulations, 2014
15. Sanction of retirement.
- The retirement of all officers of the Bank shall be subject to the sanction by the competent authority designated by the Executive Committee of the Central Board of the Bank from time to time:Provided that a decision to deny sanction under these regulations to an officer shall need the previous approval of the Executive Committee of the Central Board and the retirement of all other employees of the Bank shall be subject to the sanction of the competent authority:Provided further that a decision to deny sanction under these regulations to an employee shall need the previous sanction of the Executive Committee of the Local Board concerned with his employment and any officer or other employee who shall leave the service without sanction as required by these regulations shall forfeit all claim upon the Fund for pension.
