I cleared the IBPS PO exam with good marks and am eagerly awaiting the interview results, scheduled for April 1st. I’ve read that public sector banks require a 3-year service bond with a penalty of around ₹2 lakhs. Meanwhile, I’ve also taken the LIC Assistant Administrative Officer exam, with results expected in 3-4 months. I’m unsure about my selection in LIC, so I’m in a fix! Is it possible to transfer the service bond from a public sector bank to LIC, since they’re both government entities? Please advise!

Apni Law
Apni Law
Law Forum › Category: Labour & Service › I cleared the IBPS PO exam with good marks and am eagerly awaiting the interview results, scheduled for April 1st. I’ve read that public sector banks require a 3-year service bond with a penalty of around ₹2 lakhs. Meanwhile, I’ve also taken the LIC Assistant Administrative Officer exam, with results expected in 3-4 months. I’m unsure about my selection in LIC, so I’m in a fix! Is it possible to transfer the service bond from a public sector bank to LIC, since they’re both government entities? Please advise!
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Apni Law Staff asked 8 months ago

I cleared the IBPS PO exam with good marks and am eagerly awaiting the interview results, scheduled for April 1st. I’ve read that public sector banks require a 3-year service bond with a penalty of around ₹2 lakhs. Meanwhile, I’ve also taken the LIC Assistant Administrative Officer exam, with results expected in 3-4 months. I’m unsure about my selection in LIC, so I’m in a fix! Is it possible to transfer the service bond from a public sector bank to LIC, since they’re both government entities? Please advise!

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Apni Law Staff answered 8 months ago

Transferring a service bond from a public sector bank to LIC is not possible under Indian law. Service bonds are specific to the employer and cannot be transferred. You will need to fulfill the bond obligation with the public sector bank if selected, even if you later join LIC.

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