Transfer of Bonds between Public Sector Banks

Hi All,

I once read an article somewhere regarding the Transferability of Bonds between PSUs.

To Explain what this post is all about in simple words:-

When a new candidate joins a Govt Job, in many departments including Public Sector banks, he is (forced to) sign a bond to serve the organization for a certain period, failing which he has to submit a certain amount of money to the organization before leaving. This post of mine discusses about the bonds signed by Public Sector Banks.

I read somewhere that the bonds between PSU Banks are transferable, i.e. if you leave one bank and join another your bond signed with the leaving bank gets transferred to the joining bank.

I came across a circular by deptt of Public Enterprises (To View the Circular Click Here ) which mentions the bonds between “government” organizations are transferrable. But it did not discuss about its applicability to banks, so out of curiosity I filed an RTI to the deptt