A breach of the instruction would be treated as gross misconduct and punishable, an internal circular, dated May 27, has said.
“No officer/award staff shall open their or their wholly dependent family member’s demat account and or trading account outside the State Bank Group without prior permission of his / her controller not below rank of Chief General Manager,” the circular says.
The SBI Group includes companies in the larger financial sector such as SBI Cards, SBI Life, SBI General Insurance, SBI Funds Management and SBI Pension Funds. SBI Securities is the broking arm of the group.
