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Bank Group Policy on Records Management and Archives
Records are primary sources of documents accumulated over the course of an organization’s lifetime and show the activities of that organization. Archives house records selected by the organization for permanent or long-term preservation on grounds of their enduring historical, vital or evidentiary value. Vital records, according to an internal Bank memo of 1999, are “documents that will enable the Bank to restore its operations, recreate the institutions “legal and financial position and preserve the rights of the institution, its employees and shareholders in the event of total disaster”. 1 The same memo references SEGL, now PSEG as responsible for Bank archives.