Section 27 in Sarva Haryana Gramin Bank (Officers and Employees) Service Regulations, 2010
27. Restrictions on lending, borrowings and investments.
(1)No officer or 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 officer or employee or any person, association of persons, firms, company or institution whether incorporated or not, having dealings with the 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 scripts or delivery in the case of a sale;(iii)incur a debt at a race meeting;(iv)lend money in private capacity to a constituent of the Bank or have personal dealing with such constituent in the purchase or sale of bills of exchange, Government paper or any other securities; and(v)guarantee in private capacity the pecuniary obligations of another person or agree to indemnify in such capacity another person from loss except with the previous permission of the Competent Authority:Provided that an officer or 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 an officer or employee may obtain a loan from a Cooperative Credit Society of which he is a member or stand as surety in respect of a loan taken by another member from a Cooperative Credit Society of which he is a member.(2)An officer or employee shall manage his private affairs to avoid insolvency or habitual indebtedness.(3)An officer or employee who is in debt shall furnish to the Competent Authority a signed statement of his position half yearly on the 30th June and 31st December and shall indicate in the statement the steps he is taking to rectify his position.Explanation. - For the purposes of this sub-regulation, an officer or employee shall deemed to be in debt;(i)if his total liabilities, exclusive of those, which are fully secured, exceed his substantive pay for twelve months;(ii)Unable to liquidate his debts within a reasonable time if it appears, having regard to his personal resources and unavoidable current expenses, that he shall not cease to be in debt within a period of two years.(4)An officer or employee who makes a false statement under this regulation or who fails to submit the prescribed statement or appears unable to liquidate his debts within a reasonable time or applies for the protection of an insolvency court shall be liable for dismissal.
