Central Bank of India Recruitment 2022 for 535 Retired Officer

Vacancy Circular No:

Central Bank of India (CBI)
invites applications for recruitment of Retired Officer

Retired Officer

Number of Vacancy: 535 Posts

Educational Qualification: Retired Staff

Engagement of Retired Central Bank of India Officers in Central Bank of India at Different Levels on Contractual Basis

i. Central Bank of India, a leading Public Sector Bank, with Pan India Branch Network of nearly 4590 plus branches, with total business of more than Rs 500000 Crores and driven by talented work force of 30000 +employees, is looking for engaging of 535 Retired Officers of Central Bank of India at Regional Offices, Zonal Office and Central Office level on contractual basis as per details hereunder:

1. Post Name: Retired Officers

2. No of Post: 535

(A) Regional Office Level: Total proposed number- 360

(B) Zonal Office Level: Total proposed number- 108

Central Office Level: Total proposed number- 67

3. The rules of reservation for SC/ST/ OBC candidates as per the Government of India Guidelines, issued from time to time, shall be applicable in the engagement of the retired officers.

4. Eligibilty:

a. The applicant can apply only for the designation in which he retired from the Bank.

b. The Officer should have retired with good track record and no major punishment/penalty should have been inflicted on the retired Officer during five years of his service in the Bank preceding his retirement and no minor punishment /penalty should have been inflicted on the retired officer during three years of his service in the Bank preceding his retirement. 

c. The Officer must not have been named in the ODI List during five years of his service in the Bank preceding his retirement. Also, the retired officer should not have any crime record. 

d. The retired officer should be of sound health.

e. The retired officer should not be more than 63 years of age at the time of engagement.

f. The retired officer should have sufficient experience and must possess the skills/aptitude/competency desired for the specific role.

5. Contract Period:

i. The term of engagement shall be for an initial period not exceeding one year.

ii. The contract may be extended based on review of the task and performance of the contractual retired officer, provided in no case shall it be extended beyond the age of 65 years.

iii. The agreement for engagement shall stand terminated on attaining the age of 65 years.

iv. During the period of contract of engagement with the Bank, the retired officer shall not take up any assignment with any other organization. 

6. Termination Of Contract:

a. The engagement of Retired Officer in the Bank shall not be considered as a case of re-employment in the Bank. 

b. The member shall not be eligible for any claim or any other Benefit/compensation under provisions of any Act/Rules applicable to regular Bank employees. 

c. The Bank may cancel/terminate the contract of the engagement at any time without assigning any reason whatsoever with an option of 30 days’ notice period or payment/surrender of remuneration in lieu thereof.

d. The Retired Officer needs to give a 30 days notice in case of premature termination of contract of engagement.

7. The monthly remuneration shall remain unchanged for the term of the assignment and will be as under:

a Scale I Pay drawn at the time of Retirement – Basic Pension: Rs. 40,000/-

b Scale II Pay drawn at the time of Retirement – Basic Pension: Rs. 50,000/-

c Scale III Pay drawn at the time of Retirement – Basic Pension: Rs. 60,000-

d Scale IV Pay drawn at the time of Retirement – Basic Pension: Rs. 70,000/-

e Scale V Pay drawn at the time of Retirement – Basic Pension: Rs. 80,000/-

f Scale VI Pay drawn at the time of Retirement – Basic Pension: Rs. 90,000/-

g Scale VII Pay drawn at the time of Retirement – Basic Pension: Rs, 100,000/-