Section 49(b) in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
(b)Major penalties being-(i)save as provided for in sub-clause (iv) of clause (a), reduction to a lower stage in the time-scale of pay for a specified period, with further directions as to whether or not the officer and other employee shall earn increments of pay during the period of such reduction and whether on the expiry of such period, the reduction shall or shall not have the effect of postponing the future increments of his pay;(ii)reduction to lower time-scale of pay, grade, post or service which shall ordinarily be a bar to the promotion of the officer and other employee to the time-scale of pay, grade, post or service from which he was reduced, with or without further directions regarding conditions of restoration to the grade or post or service from which the officer and other employee was reduced and his seniority and pay on such restoration to that grade, post or service;(iii)compulsory retirement;(iv)removal from service which shall not be a disqualification for future employment;(v)dismissal from service which shall ordinarily be a disqualification for future employment:
