Section 47(4) in National Housing Bank (Officers') Service Regulations, 1997
(4)The Competent Authority for retiring officers pre-maturely under Regulation 13(2) shall be "Chairman and Managing Director" in all cases.ProcedureThe procedure to be followed for pre-mature retirement of officer under Regulation 13 (2) of National Housing Bank (Officers') Service Regulation, 1997 would be as under:(a)A detailed report in writing would be submitted on the Officers who are recommended for pre-mature retirement under Regulation 13(2).(b)Such report would be given by the concerned reporting authorities through officer In-Charge in cases of officers working at branch/regional officers and through Departmental/Functional Heads in case of officers working at the Head office.(c)The concerned Officer In-Charge or Department/Functional Head would record their recommendations in writing on such reports.(d)The Officers recommended for pre-mature retirement must be recommended by at least two hierarchical authorities wherein the second authority is not below the rank of officer in Grade/Scale V.(e)Such recommended cases would be forwarded to the General Manager (Personnel), in cases of Officers up to Grade/Scale IV and to Chairman and Managing Director, in cases of officers of Grade/Scale V and above, for their putting up to the Special Committee/s.(f)The special committee/s constituted for this purpose would review the cases for pre-mature retirement under Regulation 13(2) every quarter or at such intervals may be decided by the Management from time to time. The review of the cases by the Special Committee/s would generally be done in the beginning of such quarter or at such interval as may be decided by the Management.(g)The cases of Officers who have completed 55 years of service, whichever is earlier, can be reviewed by the Management at any time on or after completion of stipulated age or length of service.(h)The Special Committee/s after reviewing such cases would submit its recommendations to the competent Authority who would take into consideration the recommendations of the Special Committee/s and decide whether the officers are to be retired pre-maturely or not.(i)If the Competent Authority decides to retire an officer pre-maturely, he should record that he has formed an opinion that it is necessary to retire such officers in pursuance to the provisions of Regulation 13(2).(j)The officer who is required to be retired pre-maturely under provisions of Regulation 13(2) would be served with written notice of 3 months or be paid an amount equivalent to 3 months salary/pay and allowances as per the provisions of Regulation 13(1).(k)When an officer is advised about his pre-mature retirement, he may if he so desires give in writing a representation to the Board of Directors against the decision of the Competent Authority within a period of one month of the passing of the order.(l)The Board of Directors shall consider representation of the concerned officer and take a decision within a period of three months of receipt of the representation.(m)Where the Board of Directors decide that the order passed by the Competent Authority is not justified, the concerned Officer shall be reinstated as though the Competent Authority has not passed the order.(n)If the representation of the officer concerned is not considered favourably, the officer concerned would be advised accordingly and he/she would stand retired prematurely from the date mentioned in the letter of premature issued him/her earlier.(o)The recommendations/views of the Chief Vigilance Officer of the Bank are also to be obtained while reviewing cases for pre-mature retirement.
