Will a Bank Extend My Notice Period If I Resign After Making a Mistake with a Bulk NEFT Transfer?

I mistakenly made a bulk NEFT transfer of 120000. I am a probationary officer with 2 months of experience. The wrong party has already withdrawn the amount, but I am ready to pay back my half share, as is my branch head, since he was the checker. If I resign tomorrow, will the bank extend my notice period even though I am willing to repay the amount?

The extension of your notice period due to a mistake made during your employment largely depends on your bank's policies and the terms of your employment contract.

1. Review your contract: Check your employment contract for any clauses that might pertain to errors made during your tenure and how they might affect your notice period.

2. Consult HR: It would be advisable to consult with your HR department about the situation. They can provide guidance based on the bank's policies and past instances, if any.

3. Legal implications: If the bank suffers a financial loss due to your mistake, there might be legal implications. However, since you're willing to repay the amount, it may mitigate the situation.

4. Resignation: If you're planning to resign, it's recommended to have a discussion with your superior or HR department before making a final decision. They can guide you on the best course of action considering your current situation.

Remember, every organization has different policies, and the course of action may vary. It's always best to communicate openly with your superiors and HR department to find the most suitable solution.

Dear member,

Erroneous transfer of funds is a dereliction of duty. Most companies classify the 'dereliction of duties' as misconduct. To award the punishment for the misconduct of a grave nature, the company has to order a domestic enquiry. Has it been ordered? If not a domestic enquiry, then did the company issue a show-cause notice to you and your manager?

Nevertheless, your question is whether the company will extend your notice period. But what is the cause of this worry? Do you think that you will be awarded the extension of the notice period as punishment? This is unlikely. Even if you had declined to pay half of the erroneous amount as a penalty, this punishment could not have been given.

Please note that awarding punishment for misconduct and the extension of the notice period are two independent things. One does not have bearing on the other.

By the way, oversight during work is common across all industries. However, is the hundred per cent recovery of the losses incurred by the company legally tenable? Please check with the legal experts.

Thanks,

Dinesh Divekar