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Board means board of the Bak;
'Calendar year' means the period commencing from the Ist day of january of a year and ending
with the 31st day of December of the same year;
'Competent Authority' means the authority designated for the purpose by the Board;
'Emoluments' means the aggregate of salary and allowances, if any;
'Family' means and includes the spouse of the officer (if the spouse is also not an employee of the
Bank)and the children, parents, brothers and sisters of the officer wholly dependent on the officer
but shall not include a legally separated spouse;
'Government' means the Central Government;
'Guidelines of Government' shall mean such guidelines as may be issued by the Government and
shall include the recommendations made in the report of the committee constituted by the
Government's Resolution No. F.4(26)72/IR dated 19th July, 1973, as accepted by Government
together with modifications or alterations there of as may, from time to time, have been or be
made by Government;
'Managing Director' means the managing Director of the Bank;
'Officer' means a person fitted into or promoted to or appointed to any of the grade specified in
regulation 4 and any other person, who immediately prior to the appointed date, was an officer
of the Bank, and shall also include any specialist or technical person as fitted or promoted or
LOVELY PROFESSIONAL UNIVERSITY 321