Offer of Appointment
Mar 18, 2025
Mr. Keshav Garg
At- Jatashankar Colony, Ps- Damoh,
Dist- Damoh, Madhya Pradesh - 470661
Dear Mr. Keshav Garg
Offer Letter for Joining as Branch Head – Micro Banking.
As per the personal interview and discussion we had with you, we are glad to offer you to join Utkarsh
Small Finance Bank as Branch Head – Micro Banking in the grade of Assistant Manager I. The allocation
of work and place of posting shall change on the basis of organizational requirement from time to time.
Your employment with the company shall:
commence from the date of your joining the company.
be confirmed after the successful completion of minimum 6 months’
Probation Period. be subject to positive reference check (s) and
be subject to suitable relieving letter / no dues certificate / NOC from your previous employer (s).
The total CTC (all-inclusive but excluding annual performance bonus) will be ₹27,952/- per month
(₹3,35,423/- per annum). The breakup of CTC is as per Annexure I.
Other Benefits (as per the extant policy of the company) would be as follows:
Leave (as per the policy)
Medical Insurance
Term Insurance
Malus and Claw back:
As part of our employment offer, “Malus and Claw back clauses will be applicable to your services with
the Organisation.
A malus arrangement permits the bank to prevent vesting of all or part of the amount of a deferred
remuneration. Malus arrangement does not reverse vesting after it has already occurred.
A claw back, on the other hand, is a contractual agreement between the employee and the bank in which
the employee agrees to return previously paid or vested remuneration to the bank under certain
circumstances.
Any variable pay / performance bonus / ESOP or any other pay out awarded to you shall be subject to a
malus / clawback provision and in the event that you engage in the conduct that discriminate to the Bank
or violate any applicable law or rules and regulations, in such event, the Bank can, at its discretion, reduce
or withhold any future payment, and may seek to recover any payments made to you in excess of your
earned compensation.
Illustrative list of conditions is enumerated below. The occurrence of any / some / all the following
conditions / events shall trigger a review for the application of the Malus or the Clawback arrangements.
Violation of Terms & Conditions agreed upon at the time of Offer and Appointment with the Bank.
Substantial Financial Deterioration in profitability or risk parameter.
Reckless, negligent, or wilful actions or exhibited inappropriate values and behaviour.
Fraud that requires a financial restatement.
Reputational harm to the Bank.
Exposing the bank to substantial risk.
Such other conditions or events, of similar nature as above, as determined by the Bank triggering
review for the purpose of the application of the Malus or the Clawback arrangements.
The offer is valid till Apr 17, 2025 post which the same shall automatically stand withdrawn.
Name – Keshav Garg
Grade – Assistant Manager I
Joining Formalities:
The following documents will be required to complete your joining formalities at the time of joining the
company:
Five (5) recent passport size white background colour
Five (5) recent passport size white background colour photographs.
Three (3) self-attested photo copies of:
I. Identity Proof *
II. Residence Proof *
All educational certificates and mark sheets (10th / Matriculation onwards)
Original last three (3) months’ salary slip.
Self-attested photo copy of relieving letter from previous employer.
Form 16 of current Financial Year for tax calculation, if any.
Affidavit on Rs. 10 Stamp Paper (Parents & Government Employee) Format
attached.
Cancelled Cheque.
Original copy to be produced for verification of self-attested photo copies.
^ PAN & Aadhaar Card required.
Please note for cases, if any of the above documents are not presented / submitted at the time of joining,
the joining process will not be completed and may be delayed.
The Appointment Letter shall be issued on your joining the company.
You may send your consent for joining immediately, along with your date of joining by signing this offer
letter and emailing / courier the scan copy.
Please feel free to contact for any clarifications. I will be joining the company by
Best Regards
For UTKARSH SMALL FINANCE BANK Ltd
Sarika Rupali
Manager - HR & Training
Received and accepted(Candidate).
I will be joining the company by ______
Signature: Date: Name:
Name – Keshav Garg
Grade – Assistant Manager I
Annexure I:
Salary Components ₹ Per Month ₹ Per Annum
Minimum Basic Pay 12000 144000
Medical allowance 750 9000
Statutory Bonus 2020 24240
Other Allowance 10805 129660
Gross Salary 25575 306900
PF 1800 21600
Gratuity 577 6923
CTC (min) 27952 335423
Fuel Allowance 30 Ltrs.
“Please note that the breakup of salary structure may be reviewed and there may be change in the
components. However, it will be ensured that there is no negative impact on the overall CTC” at the
time of joining.
***This is system generated letter and does not require any signature***
