Dinesh Divekar
Business Mentor, Consultant And Trainer
Labour Law & Hr Consultant
Legal Analyst, Hrm
Retired Government Servant/advocate
Cite Contribution
Community Manager
Production & Operations Management, Quality
+2 Others

Hi, I am working in publoc sector bank. While joining I have signed indemnity bond for 3 yrs breaching 2lakh compensation.
While working I found this job has too many risks. Cbi chargesheets faced by many senior employees. This really worries me. There is no proper transparency and accountability. There is more possibility of risking to lend wrong borrower.
It is so obvious that most of them turned to be npa. Unfortunately management gives severe punishment to its employees.
So I decided to quit this job. Planned to seek career in IT itself. If I need to serve another 2 and half years in this org I won't get the same offers as I do now. Friends are suggesting about absconding. But it is not proper way. How better I could argue with my hr after my resignation notice? How to convince them? Note, this experience is nothing to do with my future job. Please help.
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Dear friend,

My first suggestion to you is to make your post anonymous.

Now about your query. Before joining the bank, what type of work did you do? Were uou in IT industry? If yes, then on what type of technologies you have worked on?

Generally, public sector jobs are considered as cushy jobs. Yet why do you find the job riskier that you would know. What is your designation? Are you in credit department? In what way your job involves dealing with the borrowers? Are you tilting at the windmill?

Why do you say that there is no transparency and accountability? What are the chances of changing your department? Can you work in IT department of the bank?

You could have been little more cautious while joining the public sector bank. Nevertheless, you may do the Cost Benefit Analysis (CBA) of continuing and leaving the bank honourably.


Dinesh Divekar

Most of the points are covered by learned member above. i will just say that those friends who suggested absconding are giving wrong advice in itself.
As rightly observed by Dinesh, the poster has the wrong perception about Banking Industry and particularly he is very skeptical about public sector banks because of certain stray incidents here and there and hence somehow or other he wants to quit so that he can find a comfortable placement in IT industry. There are men and men in every industry. He has forgotten the Satyam Affair for example.
Dear Anonymous,

Who soever may say , I would say that u r in right path. Top bosses go scot free although they are instrumental in giving loans. Action is taken on simple procedural lapse against juniors in PS banks. I have worked in such banks for last 37 years and suffered a lot although I worked honestly and diligently. To save some , they make the juniors scapegoat. many officers commit suicide not being able to cope up with the pressure.

Leave bank at first instance if u get opportunity. Moreover the work atmosphere is very bad. No respect , no dignity. Bosses rebuke instead of motivating. Sometimes undeserving persons go to the top and become merciless.

You may abscond . It is not a criminal offence. One officer in my office absconded and joined somewhere. Even he did not pay his intial reserve fund. Nothing happened to him. Officers who work so hard and take responsibility in branches suffer most. Not only credit in deposits also there is great risk.

In my case, the language of the rule was twisted to prove charge.

Work with happiness never work with pressure. God has created us to be the best. Why take pressure when you deserve a better life. An overhauling of banking is very much required to make it a beautiful place which it used to be. Top authorities even the RBI does not realise what ails banking because noone interacts with the junior officer who face the true challenge. I have seen many young officers leaving bank due to this risk factor. Especially the Vigilance department, the investigation department make your life hell. Such departments take cynic pleasure by chargesheeting officers although there is no malafide intention. Gone are the days, when we were told by the seniors to work bravely .If there is no malafide nothing will happened to you. I have contributed a lot for the growth of the bank, but I suffered although I did not deserve to suffer.

So quit dear to have a better future.Since you have understood the risk, avoid such risk. Please do not listen to others. I have advised many to leave bank as I advised them out of my experience. And all of them are happy.

Best of luck. You may give notice or Rs.2lakhs and leave. You may leave and join somewhere else if they do not need to know about your past.
We fail to understand why there is so much fear of in the mind is Mr Anonymous.
Though there is no doubt regarding pressure on Publuc Sector Banks which ultimately has to be absorbed by employees, but in any case such type of pressures will always be there in all jobs.
Even if we decide an enterprenership, it will have its own inherited challenges.
Would like to advise that such type of situation needs to be dealt with a brave heart.
'Optimus Consultants'
The views expressed on the alleged risks are too pessimistic. In public sector, unlike the private sector, adversarial action is not possible, otherwise than according to law. That itself is a sufficient cushion against any risks.
The Bonds are enforceable only against the cost incurred by the employer towards imparting specialised training, if any. And this Bond cannot be enforced unilaterally.
You have every right to seek employment of your choice. But that choice needs to be constructive, mot seeking cocoons against challenges of life.
it is very clear from what you write you are more afraid than not interested in the job. But you can not continue in any job with fear of getting punished for no fault of yours. My suggestion to you is find ways to raise loan for repaying your bond money and quit the job. But before quitting ensure you have a job in hand.
See I had replied yesterday replied to this thread. But it did not get posted. Perhaps, Cite wants to be away from the reality and does not want to call a spade a spade.
As a banker for last 37 years, I suggest you quit immediately if you really want to enjoy your life. many of colleagues who are youngsters joined and quit. And they are happy. I have deep rooted experience in this regard. Do not spoil your life by continuing in a Bank. There are more beautiful jobs for youngsters like you. In America, Banking is the last resort. In India also Banking should be the last resort . Further you are lowly paid with higher risk. Exaample who left bank and joined other organizations:1.Price water house,2.Hexel software, 3.IBM, 4.TCS,5.CRISIL, 5.First Carribean Bank.
Give adequate notice and leave . Your from IT, .Sky is the limit for you. Try to immigrate to Canada. For this check Internet .
Every job has inherent risk and advantages.
Leaving a PSU bank job,because some one has been chargesheeted is a wrong decision.The way loans have been given and become Bad,more officials need to be charged.
however as far you are concerned-if you do your job properly and leave a documentary trail no one including FBI can touch you.
Put up your recommendations clearly and firmly.
If a loan is not safe,put your reasons and document it.
No honest official can really be punished if he does his work straight.Unfortunately if such a thing happens (and has happened) then you can always take legal recourse.
no one wants a legal battle,but if forced then where is the choice.
Fear of getting entrapped is not a reason to leave a PSU bank job
.It is not necessary that you will be in department sanctioning loans for all your career.
Irrational fears and thoughts cannot be the basis of quitting.
Dear Anonymous Querist,

Shri Nathrao has very rightly stated, "Every job has inherent risk and advantages."

But, I wonder, another anonymous person has adviced you very wrongly, specifically to abscond from your duty. A question arises, if he thinks himself to have worked honestly and diligently, why by quoting an example of one absconder from his own organization he preferred to advise you dishonestly that can mar your career? Another question arises, if the HR of his own organisation kept lethargic, sluggish or inactive in that case, can he guarantee you that your organisation's HR would also follow suit of his organisation?

Still further, if he has advised you to abscond from your duty, why he, himself, is sticking to his post for the last 37 years, why not resigned or absconded when he claims to have suffered a lot ?

Anyway, although I am not advising you to continue with your disliked job, but absconding is never advisable in your case, that too at the very begginning of your career, as the blot of being deserter may haunt your career, wherever you go when background verification is resorted to by your future employer, more so, when there is zero tolerance in IT industry, where you are interested. Must leave your post, if not liked by you, but follow rules & regulations patiently before resigning in a proper way and without displeasing the management of your organisation by your uncalled for actions.

But, your fear about banking jon to be too risky, is not sustainable. Don't think that every employee of the bank is chargesheeted by the CBI. If everyone starts thinking like you, nobody would even think about appearing in tests and interviews conducted by banks.

Although there are set targets in the banking industry for parking of the public funds as a prime requirement of the banks, as funds cannot be kept idle or unprofitable, but that does not mean that the loans be sanctioned recklessly without following appropriate verification processes and sidelining due diligence norms in view of the pressures or targets from the high ups. If a bank employee works honestly and sincerely by applying due diligence, unyieled by pressures, the management or the CBI cannot question the employee. In a very recent case of a Bank Manager, although he got pressure from his superior office for sanction of OD in a housing loan case, but when he found that the applicant's wishes of OD of 10 Lakhs cannot be fulfilled according to his entitlement and paying capacity, he flatly refused to budge before the pressure of the high ups. Although a serious complaint against the Manager was lodged, but when he justified his observation based on facts & figures, the applicant was compelled to withdraw his complaint without calling for any action against the Manager.

So, either fulfill the bond conditions or convince the management to relax the bond conditions before you render your resignation. Consenses relief from the post may help you a lot to get worriless freedon gtom the present job and search of another job of your liking.

Rest depends upon your own wisdom.

Best of luck!
Dear Nathrao,
I do not know if u r from Bank or not. But perhaps you do not know what is happening in Banks. A small example:- The most honest officer is categorised as an Officer of doubtful integrity. This is bank! Severe penalties are awarded for no fault or for matter not related to banking, no financial loss. Banks run not within rule , but as per whims of the higher authorities. Rules are not followed. Even the GMs are afraid of CVO to call a spade a spade!
Juniors are scapegoats.
I am not from bank.
Inspite of what you say,lakhs of people apply for bank jobs.
Sins of years of neglect and careless lending are now coming home.I still hold that an honest officer who documents his work is in a better position to escape problems.
Indemnity bond with a PS , needs a legal intervention. Please talk to a lawyer on possible way out. Find an extremely genuine reason to quit, such as health or family issues which needs your presence indefinitely. Prepare documents to support that and then resign , knowing the legal aspects that you might need to deal with.
Does your employer offer you a buyout option for the Bond? Thats your best exit plan.How far is your native place from your place of posting? Can you cite that as a reason?
How have other employees left during the first two years of employment and what were the repercussions ?
Looking forward to hear from you!
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