Section 38(ii) in National Housing Bank (Officers') Service Regulations, 1997
(ii)Once in every four years, when an officer avails of Leave Travel Concession, he may be permitted to surrender and encash his privilege leave not exceeding one month at a time. Alternatively, he may whilst travelling in one block of two years to his home town and in any other block to any place in India, be permitted encashment of privilege Leave with a maximum of 15 days in each block or 30 days in one block. For the purpose of leave encashment all the emoluments payable for the month during which the availment of the Leave Travel Concession commences shall be admissible.
