TaxTMI 
TaxTMI 
International Financial Services Centres Authority (Employees' Service) Regulations, 2026
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.... Competent Authority may, either suo motu or in consultation with the lending organisation, specify such additional terms and conditions governing the deputation, as may be considered necessary having regard to the requirements of the Authority or the terms governing the deputation. (3) Such additional terms and conditions shall be consistent with these Regulations and the applicable deputation policy, and shall be binding on the deputationist upon acceptance of the deputation. (4) These regulations shall not apply, except as otherwise specified herein or to such extent as may be specifically or generally decided by the Authority, to persons employed temporarily or engaged under any arrangement other than those expressly provided under these regulations. 3. Definitions (1) In these regulations, unless there is anything repugnant in the subject or context- (a) "Absorption" means an employee joined in the services of the Authority on Deputation and subsequently gets permanently absorbed in the services of the Authority. (b) "Appointing authority" for different categories of employees shall be as specified under Schedule-II. (c) "Act" means the I....
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.... the Competent Authority. (l) "external assignment" means the temporary posting to another organisation, including on secondment, tour on duty or staff exchange programme, wherein the accrual and disbursement of remuneration including pay, allowances and perquisites would be borne by the Authority. (m) "family" means - (i) Spouse of the employee, whether residing with her or not, but does not include a legally separated spouse; (ii) Children or stepchildren of the employee whether residing with her or not, and dependent wholly on such employee, but does not include children or stepchildren of whose custody the employee has been deprived of by or under any law; and (iii) Any other person related to, by blood or marriage to the employee or to her spouse and wholly dependent upon such employee. (n) "leave pay" means the monthly pay including all the allowances which the employee would have drawn while on duty but before proceeding on leave. (o) "Medical Certificate" means a certificate from the Medical Officer of the Authority - Provided that where the Medical Officer of the Authority is not available, a certifica....
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....trued as basic pay drawn in the pay scale of the post held substantively by the employee and shall not include special pay, personal pay, or any other allowances; and (ii) In cases where an employee is officiating in a higher post or drawing pay in a scale other than that of the substantive post, Substantive Pay shall mean the pay that the employee would have drawn had she continued to hold the substantive post and not been officiating. (v) "total emoluments" means the aggregate monetary value of all components of compensation payable to an employee, comprising pay, allowances and benefits admissible under these regulations. (w) "total service" includes the period of service rendered within the Authority, in addition to the service rendered in any other organisation that was taken into account at the time of the employee's appointment in the Authority, whether for determining eligibility, assessing relevant experience, or for any other purpose connected with such appointment. (x) "year" means a continuous period of twelve months commencing from 1 st day of April of a year and ending with 31st day of March of the next year. (2) Words and ex....
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....t, educational and other qualifications, age limits, experience and other incidental matters thereto shall be as specified in Schedule-I. (b) Recruitment of officers shall ordinarily be made at the entry level in Grade A by the Competent Authority: Provided that, only in cases where suitable candidates are not available in the Authority's service, or the exigencies of work so require, recruitment may be made at a higher grade in accordance with Schedule-I. (c) Recruitment of whole-time employees shall be conducted through a competitive examination, either by the Competent Authority or through an external agency engaged by it, comprising written tests, interview, group discussion, or any combination thereof, as may be determined by the Competent Authority; Provided that interview, or group discussion or both, shall not be conducted for the purpose of recruitment of Multi-Tasking Staff; Provided that the Competent Authority may, for reasons to be recorded in writing, relax the manner of recruitment, while ensuring fairness, transparency and merit-based selection. (d) The Competent Authority shall constitute a Selection Committ....
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.... (c) Total emoluments in the previous employment. 10. Appointment on deputation and pay protection (1) In case the appointment is made on deputation, the pay shall be fixed so as to protect the last drawn pay in the parent organisation. Explanation 1. - Where the pay structure in the Authority is similar to that of the parent organisation, pay may be fixed with one additional increment; and Explanation 2. - Where the pay structures are dissimilar, the total emoluments drawn in the parent organisation may be taken into account and pay may be fixed accordingly to ensure reasonable protection of total emoluments. (2) Notwithstanding anything contained in sub-regulation (1), the Competent Authority may, having regard to the factors specified in sub-regulation (2) of Regulation 9 and at its discretion, grant up to four additional increments in the pay scale applicable to the grade to which the appointment is made. 11. Re-employment in Authority (1) No person who has ceased to be in the service of the Authority, may be re-employed without the specific sanction of, and on such terms and conditions as may be specified by the Authority; Provided that no person ....
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.... intention to leave or discontinue the service. (2) The period of notice required shall be, - (a) In the case of employees holding the post on regular basis, 90 days; (b) In the case of employees holding the post on probation, 30 days; Provided that Chairperson may waive the notice period required under this sub-regulation for the reasons to be recorded in writing; Provided further that the employee shall not be entitled to set off any leave earned and not availed of by her against the period of such notice. Provided also that for an employee holding the post on probation after the promotion, the period of notice shall be 90 days. (3) Where an employee requests waiver of the notice period as required under sub-regulation (2), or seeks to be relieved before the expiry of such notice period, the Competent Authority may accept such request subject to payment by the employee to the Authority, by way of compensation, of a sum equal to her substantive Pay for the unserved portion of the notice period; Provided that the Chairperson may, for reasons to be recorded in writing, waive the payment of such compensation, wholly or partly. (4) Notwithstandin....
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....e either under proviso to sub-regulation (1), or sub-regulation (3), the Authority may consider grant of compensation on such scale and terms as may be determined by it from time to time. (6) The Authority, while determining the terms under sub-regulation (4) shall take into account all relevant factors including the balance of service left to a retiring employee. (7) Notwithstanding anything contained in these regulations, where an employee has ordinary leave earned but not availed of as on the date of retirement, she may, at her option, (a) be permitted to avail of such leave subject to a maximum of 300 days and in that case the employee will be deemed to have retired from service on the expiry of such leave; Provided that in case the employee is permitted to avail of leave on retirement, the expiry of such leave shall be prior to the superannuation of the employee. (b) alternatively, be paid a lumpsum amount which would be equivalent to pay as defined under these regulations as on the date of her retirement, for the unavailed ordinary leave earned subject to maximum of 300 days, plus all allowances normally admissible to the employee concerned du....
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....n the services of the Authority the period of deputation of such employee in the Authority's service shall be counted, as service in the Authority for the purpose of seniority, promotion, and all other service-related matters; Provided that no service rendered in the parent organisation prior to deputation shall be counted for the purpose of seniority in the Authority. Provided that no benefit, including any financial, retirement or terminal benefit, shall be admissible to such employee from the Authority in respect of such period to the extent that the same benefit has already been received or availed of, or is receivable, from the parent organisation. (3) The period during which an employee is on leave without pay, shall count for the purpose of seniority, unless the Competent Authority, for reasons to be recorded in writing, specifically directs at the time of granting such leave(s) that such period shall not be counted for the purpose of seniority; Provided that where an employee is on leave without pay on the ground of medical exigencies duly supported by a Medical Certificate, the Competent Authority may consider to treat such period of leave without pay, for ....
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....bers of the Authority and two external members to be nominated by the Chairperson. 20. Reversion An employee promoted from one grade to another shall be on probation for a period of one year and may, during such period, be reverted to the grade from which she was promoted, if her performance is found to be unsatisfactory or for any other reasons to be recorded in writing; Provided that the Competent Authority may, at its discretion, give one month's advance notice before effecting such reversion. CHAPTER IV PAY, ALLOWANCES AND OTHER BENEFITS 21. Pay, Allowances and Other Benefits (1) The Authority shall, at its discretion, determine from time to time, the pay and allowances applicable to different categories of employees. (2) The Authority may, at its discretion, frame, from time to time, such schemes and allow such other benefits for the welfare of the employees, at such terms and conditions, as it may determine. 22. When accrue and payable Subject to the provisions of these regulations, pay and allowances shall accrue from the commencement of the service of an employee, and shall become payable on the afternoon of the last working day of each mon....
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....tion of the date of increment on the basis of the date of joining the Authority results in a reduction of the pay last drawn in the lending organisation, the date of increment admissible in the lending organisation shall continue to apply for the period of deputation, so as to avoid any pecuniary loss to such employee; Provided also that the benefit of increment shall be admissible from the first of the month in which such increment accrues, irrespective of the actual date of accrual. Explanation .- For the removal of doubts, it is clarified that an increment shall be admissible only in the pay scale in which the officer was actually drawing pay on the date of accrual of such increment, irrespective of any subsequent change in grade or scale. (2) Officiating service in a higher grade will count for increments in an employee's substantive grade as well as in the higher grade in which she is officiating and if there is an intermediate grade between the two in which she would have officiated had she not been appointed to officiate in the higher grade, also in the intermediate grade. (3) The period during which an employee is on leave without pay shall not count for inc....
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....ied below: (a) In the case of appointment in higher grade on promotion, the employee shall, on such appointment, draw pay at the stage in the higher grade which is equal to or next above the pay notionally arrived at by increasing the actual pay drawn in the lower grade, by one increment at the stage at which such pay is drawn. (b) Where an employee, immediately before her appointment in the higher grade, was drawing pay at the maximum of the scale of pay applicable to the lower grade, her pay in the revised higher grade be fixed at the stage in the higher grade which is equal to or next above the pay notionally arrived at by increasing her actual pay in the lower grade by one increment equal to the last increment in the lower grade. Provided that when the promotion is of a temporary nature and the circumstances of the promotion so justify, the Competent Authority may fix the pay of an employee at an amount less than that admissible under this Regulation. (c) If such employee is reverted to the lower grade and is re-appointed in that higher grade, her earlier service in the higher grade will be taken into account for fixing her pay and for permit....
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....ve; (d) Maternity leave or Paternity leave, as the case may be; (e) Extraordinary leave; (f) Accident leave; (g) Study leave; (h) Compensatory leave; and (i) Any other Special leave as may be specified by the Authority. (2) Pay during leave shall be drawn at full or half rate of leave pay, according to the kind of leave availed of by the employee: Provided that no pay shall be admissible during extraordinary leave. 32. Authorities empowered to grant leave The power to grant leave shall vest in the Competent Authority. 33. Power to refuse leave or recall an employee on leave and lapse of leaves (1) Leave cannot be claimed as a matter of right. (2) The discretion to refuse or revoke any kind of leave is reserved with the Competent Authority, and an employee already on leave may be recalled by the Competent Authority when it considers so necessary due to work exigencies or otherwise in the interest of the Authority. (3) The employee may join the duty before the expiry of the sanctioned leave, with intimation to the Competent Authority. (4) Save as otherwise specifically provided in these regulations, all ....
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....ire calendar year at the commencement of the year; Provided that for an employee who joins service during the course of the year, such credit shall be allowed on a pro-rata basis for the remaining part of the calendar year; Provided also that in case of an employee retiring or resigning from the service during the year and has availed casual leaves beyond the pro-rata limit, the additional leaves so availed shall be adjusted against the Ordinary Leave to the credit of the employee, or against dues payable to her, if no Ordinary Leave is available to her credit. (4) No casual leave may be availed of, except with prior sanction of the Competent Authority; Provided that if for any genuine reason, it is not possible for an employee to obtain such permission in advance, she shall intimate her absence to such Competent Authority within 24 hours; Provided further that the Competent Authority may condone delay of such intimation, if satisfied that the employee was not in a position to intimate her absence for reasons beyond her control. (5) The casual leave, which has not been availed of at the end of the calendar year shall be credited to the extent of 50 % of such leave....
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....eriod of absence in excess of 45 days shall be treated, subject to the provisions of sub-regulation (2) of Regulation 49, as Ordinary, Sick, Special or Extraordinary Leave, as the employee concerned may request and as may be admissible to him. Explanation 2 .- Except in respect of special casual leave sanctioned in terms of clause (d) of this sub- regulation, in computing casual leave under sub-regulation (1) of Regulation 39 and special casual leave under this Regulation, intervening public holidays shall not be reckoned as day of casual leave or special casual leave, as the case may be. (2) Subject to the exigencies of work and approval by the Competent Authority, Person with Benchmark Disability as defined in the Rights of Persons with Disabilities Act, 2016, may be granted a maximum of ten days of special casual leave in a calendar year for participating in Conference, Seminars, Trainings or Workshops related to disability and development related programs, and a maximum of four days of special casual leave for specific requirements relating to the disability of the employee: Provided that the grant of special casual leave under this sub-regulation shall be subjec....
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....Time Member in charge of the department concerned where such employee is serving, and in other cases, the Executive Director in charge of the department concerned where such employee is serving. (8) Other conditions relating to special hardship leave shall be as follows: (a) Such leave shall be without pay, perquisites and allowances except house allowance and claims for medical treatment availed in India: Explanation .- For the purpose of this clause, claims for medical treatment shall include medical insurance, claims from the Medical Assistance Fund, non-policy medical claims, eye refraction, and annual health check-up. (b) An employee on special hardship leave shall be allowed to retain the accommodation provided by the Authority, if any, or receive the house allowance, as the case may be. (c) Applications for special hardship leave shall be submitted by employees in Grade 'D' and above at least two months before the date from which leave is to be availed, and in all other cases, at least one month before the date from which leave is to be availed: Provided that the approving authority shall have discretion to relax the pe....
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....loyee for the period for which special hardship leave has been availed. (1) An employee shall make herself available during the period of special hardship leave as a witness in any investigation, court case, departmental enquiry, or any other such proceeding, and shall be paid travelling and halting allowance, as the case may be. 42. Ordinary leave (1) An employee shall be entitled to ordinary leave at the rate of thirty (30) days for every year of service subject to a maximum accumulation of three hundred (300) days. (2) Such leave shall be credited to the ordinary leave account of the employee half yearly on 1st April and 1st October respectively in each year at the rate of fifteen (15) days for every six (06) months of service rendered by such employee. (3) Where an employee has to her credit two hundred and eighty six (286) days or more of ordinary leaves, the further credit of fifteen (15) days ordinary leave shall be done at the beginning of each half year (on 1st April or 1st October) to the employee's additional ordinary leave account and the ordinary leave availed during the six (06) month period thereafter ending on 30th September or 31st March sh....
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....ployee dies during the Authority's service or who is declared to be completely and permanently incapacitated for further service by way of a Medical Certificate, the Competent Authority may grant the employee (legal heirs in case of death of an employee), cash equivalent to unavailed ordinary leave to her credit on the date of death or invalidation from service, as the case may be; (3) An employee of the Authority who upon completion of probation under sub-regulation (1) of Regulation 12 of these regulations, resigns from the service after giving proper notice under Regulation 14, may be permitted encashment of half of the period of ordinary leave at her credit as on the date of resignation, subject to a maximum of five (05) months ordinary leave; Provided that the restriction of completion of probation under sub-regulation (2) of Regulation 12 of these regulations shall not be applicable to an employee who has been promoted from one grade/scale to another, and is on probation. 44. Sick leave (1) An employee shall be entitled to sick leave, on production of medical certificate, at the rate of twenty (20) days for every year of service subject to a maximum of five hu....
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....le employee in combination with, or in continuation of maternity leave if the request for its grant is supported by requisite medical certificate. (5) A commissioning mother having less than two surviving children, who commissions a child through the applicable legal process, may be granted maternity leave for a period not exceeding one hundred and eighty (180) days within the overall admissibility of three hundred and sixty (360) days of maternity leave. Explanation 1.- A "commissioning mother" has been defined in section 2(13) of the Code on Social Security, 2020 as "a biological mother who uses her egg to create an embryo implanted in any other woman". Explanation 2.- For the purposes of this sub-regulation, the period of maternity leave shall be calculated from the date the custody of the child is given to the commissioning mother. (6) A female employee with less than two surviving children, on adoption of a child below the age of one year in accordance with the applicable law, may be granted maternity leave for a period of one hundred and eighty (180) days within the overall admissibility of three hundred and sixty (360) days of maternity leave, from the date the c....
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....rity, subject to the period for which leave is necessary for recovery from the injury being certified either by the Medical Officer of the Authority or registered medical practitioner. (3) The Competent Authority may, at the option of the employee, grant any other kind of leave as admissible to her for the period as per the Medical Certificate and also in combination with or in continuation of any accident leave sanctioned. (4) An employee on accident leave shall, for the first four months thereof, draw a pay equal to her leave pay and half leave pay for the rest of the period. 48. Extraordinary leave (1) Extraordinary leave may be granted to an employee for a period not exceeding 90 days at one occasion and 360 days during the entire period of service, when no other leave is due to her and when, having regard to her length of service, sick or special leave is not considered justified by the Competent Authority. (2) The Competent Authority may grant extraordinary leave in combination with or in continuation of leave of any other kind admissible to an employee and may also retrospectively commute her period of absence without leave into extraordinary leave. (3) No ....
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.... any other type of leave (except extraordinary leave), shall not exceed twenty-eight (28) months. (2) A whole-time employee granted study leave may be required to execute a bond to serve the Authority for a specified period upon the expiry of the sanctioned study leave. 51. Joining Time and incidental matters (1) Joining time may be granted by the Competent Authority, to an employee when transferred to a different centre from the current place of posting. (2) The benefit of joining time shall also be admissible to officers joining the Authority on deputation from other organisations, as per the mutually agreed terms and conditions between the Authority and the lending organisation. (3) The Joining time admissible to an employee shall not exceed seven (7) days, exclusive of journey time in the entitled mode of travel. (4) For calculating the joining time, the day on which the employee is relieved from her old centre shall be excluded, and public holidays following such day shall be included in the joining time. Explanation. - For the removal of doubts it is clarified that the day of relieving from the old centre shall not be counted for the purpose of calculatin....
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.... by any person or persons under whose jurisdictions, superintendence or control she may, for the time being be placed. 54. Obligation to maintain secrecy (1) An employee shall maintain strictest secrecy regarding the Authority's affairs and shall not divulge or disclose, directly or indirectly, any information of a confidential nature or relating to the working of the Authority to any person, including the employees of the Authority, unless compelled to do so by a judicial Authority, a law enforcement agency, or instructed in writing to do so by a superior officer. (2) No employee shall make use of any information emanating from the Authority or otherwise which has come to her knowledge in the discharge of her official duties, for her personal benefit or for the benefit of any other person including her friends or/and relatives. (3) No employee shall communicate any unpublished price sensitive information to any other person except when required to do so in the course of her official duties. (4) An employee, before taking charge of her duties, shall make a declaration of fidelity and secrecy in the FORM A annexed to these regulations. 55. Employees to promote ....
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....) No employee shall, except with the prior approval of the Competent Authority, publish or cause to be published any book or any similar content of which she is the author or deliver talk or lecture in any public meeting or otherwise; Provided that no such approval is required, if such contribution or publication is of a purely literary, artistic, scientific, professional, cultural, educational, religious or social character; Provided further that wherever such approval is granted by the Competent Authority, the employee shall issue a disclaimer to the effect that the views expressed therein are her own and are not endorsed by the Authority. 59. Employee not to solicit outside employment No employee shall accept or solicit any outside employment or office, whether stipendiary or honorary, without the previous sanction of the Competent Authority. 60. Employment after retirement (1) No employee of the Authority who has retired from service shall, within a period of one year from the date when she finally ceases to be in Authority's service, accept or undertake a commercial employment except with the previous approval in writing of the Competent Authority. Exp....
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....ay be necessary including prohibiting the employee from representing the regulated entity in any manner before the Authority. (4) The approval or refusal, as the case may be, under this regulation shall be communicated to the employee by the Competent Authority within a period of 30 days from the date of receipt of the application for such approval, failing which the approval shall be deemed to have been granted; Provided that before refusing approval, the Competent Authority shall give an opportunity to make written submissions, to the employee concerned. 61. Employment of family members with an Unit in International Financial Services Centres ('IFSC Unit') regulated by the Authority (1) No employee shall use her position or influence directly or indirectly to secure employment of any person related, whether by blood or marriage, to the employee or to the employee's spouse, in any IFSC Unit regulated by the Authority, whether such person is dependent on the employee or not. (2) An employee shall report to the Competent Authority in case her own son/daughter or any other member of her family accepts employment in any IFSC Unit regulated by the Authority, ....
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.... employee who absents herself from duty without leave or overstays her leave, except under circumstances beyond her control for which she must tender a satisfactory explanation, shall not be entitled to draw any pay and allowances during such absence or overstay, and shall further be liable to such disciplinary measures as the Competent Authority may deem fit. (3) The period of such absence or overstay may, if not followed by discharge under sub-regulation (5) of Regulation 12 or compulsory retirement or removal or dismissal under Regulation 87, be treated as period spent on extraordinary leave. (4) An employee who is habitually late in attendance shall, in addition to such other penalties as the Competent Authority may deem fit to impose, have one day of casual leave forfeited for every three days she is late in a month; Provided that where no casual leave is due, the period of leave to be so forfeited may be treated as ordinary or extraordinary leave, as may be determined by the Competent Authority. 66. Absence from station An employee, if so required by the Competent Authority, must not absent herself from her station overnight without obtaining previous sanction ....
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....rivate trading No employee shall engage in any commercial business or pursue it either on her own account or as agent for others, nor act as an agent for an insurance company nor shall she be connected with the formation or management of a joint stock company. Explanation - Canvassing by an employee in support of the business of insurance agency or commission agency carried on or managed by a member of her family shall be deemed to be a breach of this Regulation. 69. Restrictions on dealing in the financial products and financial instruments, including those traded in the International Exchanges recognised by the Authority (1) No employee shall use her position to get a favorable return or profit, by whatever name called, than the prevalent market norm, by availing financial services from an IFSC Unit. (2) No employee shall avail of any financial service from an IFSC Unit in relation to a financial product regulated by the Authority wherein she is in possession of unpublished price sensitive information about such financial product. Provided that direct or indirect investment in commodity derivatives, equity and equity related instruments including convertible deb....
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....ion is with a person having official dealings with the employee. (3) Where an employee enters into a transaction in respect of movable property either in her own name or in the name of the member of her family, she shall within 30 days from the date of such transaction, report the same to the Competent Authority, if the value of such property exceeds such amount as may be specified by the Competent Authority; Provided that the previous sanction of the Competent Authority shall be obtained by the employee if any such transaction is with a person having official dealings with the employee. (4) The Competent Authority may, at any time, by general or special order require an employee to furnish within a period specified in the order, a full and complete statement of such movable or immovable property held or acquired by her or on her behalf or by any member of her family, as may be specified in the order; Provided that such statement shall, if so required by the Competent Authority, include the details of the means by which or the source from which such property was acquired. 72. Lending and Borrowings No employee shall in her individual capacity: - (a) borro....
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....o misuse official position (1) No employee shall; (a) Encourage representatives of any outside agencies to meet her at her residence/temporary headquarters while on tour, or for discussion on official matters; (b) Engage in oral clarifications and personal discussions with an IFSC Unit or public on matters relating to official dealings, except where necessary, while keeping her superior informed about such discussion, and shall ordinarily ensure that all such communications are conducted in writing as normal practice; (c) Seek or accept any favour for herself or her family members, friends or associates from any IFSC Unit; and (d) Involve in any type of activities/favors and physical facilities so as to place herself in an embarrassing position in the discharge of duties with integrity and fairness. (2) An employee is strictly prohibited from using her official position for any personal favor for herself or her family members or her relatives or friends. 77. Prohibition on participating in auction conducted by the Authority in pursuance of recovery proceedings. No employee shall participate, either directly or indirectly, in an auctio....
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....current expenses, that she will not cease to be in debt within a period of two years. 80. Employees arrested for non-payment of debt or on criminal charges (1) Save as otherwise provided under these regulations, an employee who is arrested for non-repayment of debt or on a criminal charge or is detained in pursuance of any process of law, shall be considered to be under deemed suspension from the date of her arrest or of her detention, as the case may be, up to such date or such other period as the Competent Authority may direct. (2) For the period during which an employee is considered to be under deemed suspension, she shall be allowed payment as admissible under sub-regulation (10) of Regulation 86. (3) Any payment made to an employee under sub-regulation (2) shall be subject to adjustment of her pay and allowance, depending on the circumstances of the case and in the light of the decision as to whether such period is to be accounted for as a period of duty or leave; Provided that full pay and allowance shall be admissible for such period only if the employee- (a) is treated on duty during such period; and (b) is acquitted of all accusations/char....
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.... deemed to prohibit an employee from vindicating her private character or any act done by her in private capacity and where any action for vindicating her private character or any act done by her in private capacity is taken, the employee shall submit a report to the Competent Authority regarding such action. 82. Not to address appeals, representations, petitions to outside Authority or person No employee shall address any appeal, representation or petition to any outside authority or person in respect of a matter pertaining to her service in the Authority, and any such act shall be deemed to constitute breach of discipline. 83. Criticism of Authority or Government No employee shall, in any broadcast, telecast through any electronic media, any document published in her own name or anonymously, pseudonymously, in the name of any other person, in any communication to the press, or in any public utterance, make any statement of fact or opinion which has the effect of an adverse criticism of any current or recent policy or action of the Authority or the Government. 84. Not to misuse residential accommodation or other facilities (1) An employee shall not misuse any fac....
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....) the written statement of defence of the employee shall be submitted to the Internal Complaints Committee (instead of to the Competent Authority) in terms of Regulation 88(4)(b). (7) The findings of the Internal Complains Committee shall be in the form of a report, which complies with the requirements of sub-regulation (23) of regulation 88 and such report shall be deemed to be an inquiry report for the purposes of these regulations. (8) Nothing contained in this regulation shall be construed to prejudice the powers of the Internal Complaints Committee to provide counseling or other support service to the complainant. (9) The Competent Authority shall be the disciplinary authority with regard to initiation of disciplinary proceedings and imposing penalties for proven violation of sub-regulation (1). 86. Suspension (1) The appointing authority or any authority to which it is subordinate, or the disciplinary authority or any other authority empowered in that behalf by the Authority, by general or special order, may place an employee under suspension- (a) where a disciplinary proceeding against her is contemplated or is pending; or (b) where, in the o....
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.... order purely on technical grounds without going into the merits of the case. 5. Subject to the provisions of sub-regulation (7), an order of suspension made or deemed to have been made under this regulation shall continue to remain in force until it is modified or revoked by the Competent Authority. 6. Where an employee is suspended or is deemed to have been suspended (whether in connection with any disciplinary proceeding or otherwise), and any other disciplinary proceeding is commenced against her during the continuance of that suspension, the authority competent to place her under suspension may, for reasons to be recorded in writing, direct that the employee shall continue to be under suspension until the termination of all or any of such proceedings. 7. An order of suspension made or deemed to have been made under this regulation may at any time be modified or revoked by the authority which made or is deemed to have made the order or by any authority to which that authority is subordinate. 8. An order of suspension made or deemed to have been made under this regulation shall be reviewed by the authority, which is competent to modify or revoke the suspension, befor....
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....ty who passes the final order may direct. 87. Penalties (1) Without prejudice to the other provisions of these regulations, an employee who commits a breach of any regulation of the Authority or who displays negligence, inefficiency or indolence, or who knowingly does anything detrimental to the interests of the Authority or in conflict with its instructions, or who commits a breach of discipline or is guilty of any other act of misconduct, shall be liable to the following penalties: (a) Minor Penalties - (i) censure; (ii) withholding of promotion; (iii) recovery from her pay of the whole or part of any pecuniary loss caused by her to the Authority by negligence or breach of orders; (iv) reduction to lower stage in the time-scale of pay by one stage for a period not exceeding three years, without cumulative effect and not adversely affecting her pension, if admissible; (v) withholding of increments of pay. (b) Major Penalties - (i) save as provided for in sub-clause (iv) of clause (a) of sub-regulation (1), reduction to a lower stage in the timescale of pay for a specified period, with further directions ....
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....lure to pass any departmental examination in accordance with the regulations or certification courses specified by the Authority; (b) stoppage of an employee at the efficiency bar in the timescale of pay on the grounds of her unfitness to cross the bar; (c) non-promotion of an employee, whether in a substantive or officiating capacity, after consideration of her case, to a grade or post for promotion to which she is eligible; (d) reversion of an employee officiating in a higher grade, or post to a lower grade or post, on the grounds that she is considered to be unsuitable for such higher grade or post or on any administrative ground unconnected with her conduct; (e) reversion of an employee, appointed on probation to any other grade or post, to her previous grade or post during or at the end of the period of probation in accordance with the terms of her appointment or the regulations and orders governing such probation; (f) compulsory retirement of an employee in accordance with the provisions relating to her superannuation or retirement; (g) termination of the services- (i) of an employee appointed on probation, during....
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....to the complaints of sexual harassment, the inquiry as far as practicable in accordance with the procedure laid down in these regulations. Explanation. - (i) Where the disciplinary authority itself holds the inquiry, any reference in sub-regulation (7) to sub- regulation (20) and in sub-regulation (22) to the inquiring authority shall be construed as a reference to the disciplinary authority. (ii) Where the disciplinary authority appoints a retired employee as inquiring authority, any reference in sub-regulation (7) to sub-regulation (20) and in sub-regulation (22) shall include such authority. (3) Where it is proposed to hold an inquiry against an employee under this regulation and Regulation 89, the disciplinary authority shall draw up or cause to be drawn up- (a) the substance of the imputations of misconduct or misbehaviour into definite and distinct articles of charge; (b) a statement of the imputations of misconduct or misbehaviour in support of each article of charge, which shall contain- (c) a statement of all relevant facts including any admission or confession made by the employee; (d) a list of documents by whic....
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....nquiring authority, forward to the inquiring authority- (a) a copy of the articles of charge and the statement of the imputations of misconduct or misbehaviour; (b) a copy of the written statement of the defence, if any, submitted by the employee; (c) a copy of the statements of witnesses, if any, referred to in sub-regulation (3); (d) evidence proving the delivery of the documents referred to in sub-regulation (3) to the employee; and (e) a copy of the order appointing the "Presenting Officer". (7) The employee shall appear in person before the inquiring authority on such day and at such time within ten working days from the date of receipt by the inquiring authority of the articles of charge and the statement of the imputations of misconduct or misbehaviour, as the inquiring authority may, by notice in writing, specify, in this behalf, or within such further time, not exceeding ten days, as the inquiring authority may allow. (8) (a) The employee may take the assistance of any other employee posted in any office either at her place of posting or at the place where the inquiry is held, to present the case on her behalf, but may not....
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....not later than three days before the commencement of the examination of the witnesses on behalf of the disciplinary authority. (c) give a notice within ten days of the order or within such further time as the inquiring authority may allow for the discovery or production of any documents which are in the possession of Authority but not mentioned in the list referred to in sub-regulation (3). Note : The employee shall indicate the relevance of the documents required by her to be discovered or produced by the Authority. (12) The inquiring authority shall, on receipt of the notice for the discovery or production of documents, forward the same or copies thereof to the authority in whose custody or possession the documents are kept, with a requisition for the production of the documents by such date as may be specified in such requisition: Provided that the inquiring authority may, for reasons to be recorded by it in writing, refuse to requisition such of the documents as are, in its opinion, not relevant to the case. (13) On receipt of the requisition referred to in sub-regulation (12), every authority having custody or possession of the requisitioned document....
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....Such evidence may be called for only when there is an inherent lacuna or defect in the evidence which has been produced originally. (16) When the case for the disciplinary authority is closed, the employee shall be required to state her defence, orally or in writing, as she may prefer; and where the defence is made orally, it shall be recorded, and the employee shall be required to sign the record; and in either case, a copy of the statement of defence shall be given to the Presenting Officer, if any, appointed. (17) The evidence on behalf of the employee shall then be produced; and the employee, if she so prefers, examine herself in her own behalf; and the witnesses produced by the employee shall then be examined and shall be liable to cross-examination, re-examination and examination by the inquiring authority in accordance with the provisions applicable to the witnesses for the disciplinary authority. (18) The inquiring authority may, after the employee closes her case, and shall, if the employee has not examined himself, generally question her on the circumstances appearing against her in the evidence for the purpose of enabling the employee to explain any circumstance....
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....s of the opinion that further examination of any of the witnesses whose evidence has already been recorded is necessary in the interests of justice, it may recall, examine, cross-examine and re-examine any such witnesses as hereinbefore provided. (23) (a) After the conclusion of the inquiry, a report shall be prepared and it shall contain- (i) the articles of charge and the statement of the imputations of misconduct or misbehaviour; (ii) the defence of the employee in respect of each article of charge; (iii) an assessment of the evidence in respect of each article of charge; (iv) the findings on each article of charge and the reasons therefor. Explanation. - If in the opinion of the inquiring authority the proceedings of the inquiry establish any article of charge different from the original articles of the charge, it may record its findings on such article of charge: Provided that the findings on such article of charge shall not be recorded unless the employee has either admitted the facts on which such article of charge is based or has had a reasonable opportunity of defending herself against such article of charge. (b) ....
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.... the employee. (3) The disciplinary authority shall consider the representation under sub-regulation (2), if any, submitted by the employee and record its findings before proceeding further in the matter as specified in sub-regulations (4) and (5). (4) If the Disciplinary Authority having regard to its findings on all or any of the articles of charge, is of the opinion that any of the penalties specified in sub-clause (i) to (v) of clause (a) of sub-regulation (1) of Regulation 87 should be imposed on the employee, it shall, notwithstanding anything contained in Regulation 90, make an order imposing such penalty. (5) If the disciplinary authority having regard to its findings on all or any of the articles of charge and on the basis of the evidence adduced during the inquiry is of the opinion that any of the penalties specified in sub-clause (i) to (v) of clause (b) of sub-regulation (1) of Regulation 87 should be imposed on the employee, it shall make an order imposing such penalty and it shall not be necessary to give the employee any opportunity of making representation on the penalty proposed to be imposed. 90. Procedure for imposing minor penalties (1) Subject to....
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.... of charge, or where the disciplinary authority is not the inquiring authority, a statement of the findings of the disciplinary authority together with brief reasons for its disagreement, if any, with the findings of the inquiring authority. 92. Common Proceedings (1) Where two or more employees are concerned in any case, the authority competent to impose the penalty of dismissal from service on all such employees may make an order directing that disciplinary action against all of them may be taken in a common proceeding. Note : If the authorities competent to impose the penalty of dismissal on such employees are different, an order for taking disciplinary action in a common proceeding may be made by the highest of such authorities with the consent of the others. (2) Any such order made under sub-regulation (1) shall specify- (a) the authority which may function as the disciplinary authority for the purpose of such common proceeding; (b) the penalties specified in Regulation 87 which such disciplinary authority shall be competent to impose; (c) whether the procedure laid down in Regulation 88 and Regulation 89 or Regulation 90 shall be followe....
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....any of the penalties specified in sub-clause (i) to (v) of clause (b) of sub-regulation (1) of Regulation 87 should be imposed on the employee, it shall replace her services at the disposal of the lending authority and transmit to it the proceedings of the inquiry and thereupon the lending authority may, if it is the disciplinary authority, pass such order thereon as it may deem necessary, or, if it is not the disciplinary authority, submit the case to the disciplinary authority which shall pass such orders on the case as it may deem necessary: Provided that before passing any such order the disciplinary authority shall comply with the provisions of sub-regulation (3) of Regulation 89. Explanation. - The disciplinary authority may make an order under this clause on the record of the inquiry transmitted to it by the borrowing authority or after holding such further inquiry as it may deem necessary, as far as may be, in accordance with Regulation 88. 95. Provisions regarding officers borrowed from other organisations, etc. (1) Where an order of suspension is made or a disciplinary proceeding is conducted against an employee whose services have been borrowed fr....
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....other conditions of service as regulated by regulations or by agreement; or (ii) interprets to her disadvantage the provisions of any such regulation or agreement; (e) an order- (i) stopping her at the efficiency bar in the time-scale of pay on the ground of her unfitness to cross the bar; (ii) reverting her while officiating in a higher service, grade or post, to a lower service, grade or post, otherwise than as a penalty; (iii) reducing or withholding the pension, if any, or denying the maximum pension, if any, admissible to her under the regulations; (iv) determining the subsistence and other allowances to be paid to her for the period of suspension or for the period during which she is deemed to be under suspension or for any portion thereof; (f) determining her pay and allowances - (i) for the period of suspension, or (ii) for the period from the date of her dismissal, removal or compulsory retirement from service, or from the date of her reduction to a lower service, grade, post, time-scale or stage in a time-scale of pay, to the date of her reinstatement or restoration to her service, grade or p....
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....referring an appeal shall do so separately and in her own name. (2) The appeal shall be presented to the authority to whom the appeal lies, a copy being forwarded by the appellant to the authority which made the order appealed against; the said appeal shall contain all material statements and arguments on which the appellant relies, and shall not contain any disrespectful or improper language, and shall be complete in itself. (3) The authority which made the order appealed against shall, on receipt of a copy of the appeal, forward the same with its comments thereon together with the relevant records to the appellate authority without any avoidable delay, and without waiting for any direction from the appellate authority. 101. Consideration of appeal (1) In the case of an appeal against an order of suspension, the appellate authority shall consider whether in the light of the provisions of Regulation 86 and having regard to the circumstances of the case, the order of suspension is justified or not and confirm or revoke the order accordingly. (2) In the case of an appeal against an order imposing any of the penalties specified in Regulation 87 or enhancing any penalty ....
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....order appealed against shall give effect to the orders passed by the appellate authority. 103. Revision (1) Notwithstanding anything contained in these regulations- (a) the Authority, or (b) the appellate authority, within six months of the date of the order proposed to be revised or (c) any other authority specified in this behalf by the Authority by a general or special order, and within such time as may be prescribed in such general or special order; may at any time, either on her or its own motion or otherwise call for the records of any inquiry and revise any order made under these regulations or under the regulations repealed by Regulation 116 from which an appeal is allowed, but from which no appeal has been preferred or from which no appeal is allowed - (i) confirm, modify or set aside the order; or (ii) confirm, reduce, enhance or set aside the penalty imposed by the order, or impose any penalty where no penalty has been imposed; or (iii) remit the case to the authority which made the order to or any other authority directing such authority to make such further enquiry as it may consider proper in the circumsta....
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.... 106. Power to relax time-limit and to condone delay Save as otherwise expressly provided in these regulations, the authority competent under these regulations to make any order may, for good and sufficient reasons or if sufficient cause is shown, extend the time specified in these regulations for anything required to be done under these regulations or condone any delay. 107. Vigilance cases Notwithstanding anything contained in Regulations 86 to 93 or any other Regulation, the following additional provisions shall apply where it is alleged that an employee has been guilty of corrupt practices, namely: (a) Where it is alleged that an employee is possessed of disproportionate assets or that she has committed an act of criminal misconduct or where the investigation and proof of the allegation would require the evidence of persons, who are not employees of the Authority or where, in the opinion of the Competent Authority, the investigation into the allegations may with the approval of the Chairperson, be entrusted to the Central Bureau of Investigation or the Central Vigilance Commission or any other such agency as may be approved by the Chairperson. (b) ....
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....ng allowances Travelling and halting allowances shall be paid to the employees according to such rates and on such terms and conditions as may be approved by the Competent Authority from time to time. 110. Deputation of employees to join military service The Authority may allow its employees to be deputed to the military service on such terms and conditions as it may determine. 111. Deputation and External Assignment An employee of the Authority may be sent on deputation or on external assignment to serve under any other employer; Provided that such deputation or external assignment shall be in accordance with such terms and conditions as may be specified by the Competent Authority from time to time. Provided further that an employee shall not be sent on deputation or on external assignment against her will. Provided also that an employee shall not be permitted to go on deputation during the first ten years of her employment with the Authority, unless so decided by the Competent Authority in accordance with the deputation policy. 112. Gratuity (1) An employee shall be eligible for gratuity on: - (a) Retirement; (b) Death; (c)....
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....equire an employee to subscribe to the said scheme or fund if she is exempted from so doing under the rules of the said scheme or fund. 115. Declarations to be signed by the employee Unless specified by these regulations, every whole-time employee of the Authority shall subscribe to declaration in FORMS A to C as provided in the APPENDIX of these regulations. 116. Repeal and Savings (1) On and from the date of commencement of these regulations- (a) The terms and conditions of the service of the existing whole-time employees of the Authority shall stand modified in accordance with the provisions of these regulations; (b) The International Financial Services Centres Authority (Employees' Service) Regulations, 2020, stand repealed. (2) Notwithstanding the repeal of the International Financial Services Centres Authority (Employees' Service) Regulations, 2020, anything done or any action taken thereunder shall be deemed to have been done or taken under the corresponding provisions of these regulations. (3) Nothing in these regulations shall be construed as depriving any person to whom these regulations apply, of any right of appeal which had a....
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....her relevant Organizations on Contract basis with not less than 20 years of experience in dealing with subjects relating to securities market, Banking, Insurance, Pension, financial products, financial services or special knowledge /experience of law, investigation, Finance, Economics, Accountancy, Administration or any other discipline considered useful to the Authority. For Promotion - Chairman, two other members of the Authority and two external experts to be nominated by the Chairman shall constitute the Selection Committee. For Deputation/ Contract - Chairman, two other members of the Authority and two external experts to be nominated by the Chairman shall constitute the Search- cum-Selection Committee. [In case of deputation from Government or other organizations, terms and conditions of deputation to be finalized in consultation with the lending Organization.] Grade D, E & F (a) Promotion; (b) Deputation (c) On contract basis [In case of non- availability of candidates in any of the two categories i.e., either in internal or in deputation the available vacancy of one category may be filled up with a suitable candidate from the other category.] Uppe....
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....Bachelor's Degree level; or Master's Degree in Sanskrit/ English/ Economics/ Commerce with Hindi as a subject at Bachelor's Degree level; or Master's Degree in both English and Hindi/ Hindi Translation from a recognized University/ Institute.] Candidate Deputation from Government, RBI, SEBI, IRDAI, PFRDA, Banks, Financial institutions and Academic Institutions; and from other relevant Organizations on Contract basis with not less than 11,14 & 17 years of experience for Grade D, E and F respectively in All- India / Central Civil Service as Group A officer or equivalent experience in dealing with subjects relating to securities market, Banking, Insurance, Pension, financial products, financial services or special knowledge /experience of law, investigation, Finance, Economics, Accountancy, Administration or any other discipline considered useful to the Authority. Minimum three members - two internal and one external. In case of deputation from Government or Other Organisations, terms and conditions of deputation to be finalised in consultation with the lending organisation. Grade A / B/ C (a) Promotion; (b) Deputation (c) Direct Recruitment (ordinari....
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....9;s Degree in Engineering in any branch or Bachelor's Degree in any discipline with a post graduate qualification (minimum two years' duration) in computer science/ computer application/ information technology from a recognized University / Institute. For officers in the Engineering Stream - Bachelor's Degree in Civil Engineering or Bachelor's Degree in Electrical Engineering from a recognized University/ Institute. Desirable Experience for Civil Engineers - (i) Experience in maintenance of Office and Residential properties/ colonies. (ii) Experience of administering construction projects in all its aspects and knowledge of PERT/ CPM techniques. (iii) Working knowledge of Computer in Structural Design in CAM/ CAD/ MS Project or Primavera evaluation and analyzing of tenders with special references. (iv) Working knowledge in structural rehabilitation works. (v) Experience in Construction and Project Management. Desirable Experience for Electrical Engineers - (i) Working knowledge of electronic systems like CCTV surveillance systems, Addressable Security Alarm and Fire Alarm systems, EPABX, UPS system, etc. (ii) Experience in maintenance of lifts, pumps, air-conditioni....
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.... concessions required to be provided for candidates belonging to the Scheduled Caste, Scheduled Tribes, other backward classes, Economically Weaker Sections, Ex- Servicemen and other special categories of persons shall be as applicable in terms of orders/ guidelines etc. issued by the Central Government from time to time. b) In every selection committee constituted for the purpose of the recruitment, an officer of appropriate rank belonging to the Scheduled Caste or Scheduled Tribe may also be inducted as a member in case no member of selection committee belongs to Scheduled Caste or Scheduled Tribe. 3. Advertisement of Vacancies; Vacancies in the Authority to be filled by direct recruitment, deputation/ absorption, not being campus recruitment shall be notified in the following manner: a) In relation to direct recruitment of posts except as specified in clause (b) below, it shall be notified by advertisement in at least three leading daily national newspapers and Employment News, with a view to cover the maximum area of the country. b) The Competent Authority may decide the method of direct recruitment including special recruitment drive from candi....