Hi, I am working in a public sector bank. Upon joining, I signed an indemnity bond for 3 years with a breach amount of 2 lakh compensation. During my time here, I have realized that this job carries significant risks, with several senior employees facing CBI chargesheets. This lack of transparency and accountability is a major concern, especially in terms of the risks associated with lending to the wrong borrowers, many of whom end up as NPAs. Unfortunately, the management tends to impose severe punishments on its employees, further adding to the stress.
Given these circumstances, I have decided to resign from this position and pursue a career in the IT industry. I am aware that if I were to fulfill the remaining 2 and a half years of my bond, I may not receive the same opportunities that I have now. Some friends have suggested absconding, but I believe that is not the right approach.
Could you advise me on how best to approach my HR after submitting my resignation notice? I would like to effectively communicate my reasons for leaving and hopefully convince them of my decision. It's important to note that this experience will not impact my future job prospects. Your guidance on this matter would be greatly appreciated.
From India, Chennai
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Given these circumstances, I have decided to resign from this position and pursue a career in the IT industry. I am aware that if I were to fulfill the remaining 2 and a half years of my bond, I may not receive the same opportunities that I have now. Some friends have suggested absconding, but I believe that is not the right approach.
Could you advise me on how best to approach my HR after submitting my resignation notice? I would like to effectively communicate my reasons for leaving and hopefully convince them of my decision. It's important to note that this experience will not impact my future job prospects. Your guidance on this matter would be greatly appreciated.
From India, Chennai
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My first suggestion to you is to make your post anonymous.
Background and Experience
Before joining the bank, what type of work did you do? Were you in the IT industry? If yes, then on what type of technologies have you worked?
Job Concerns in the Public Sector
Generally, public sector jobs are considered cushy jobs. Yet, why do you find the job riskier than you would expect? What is your designation? Are you in the credit department? In what way does your job involve dealing with the borrowers? Are you tilting at windmills?
Transparency and Accountability Issues
Why do you say that there is no transparency and accountability? What are the chances of changing your department? Can you work in the IT department of the bank?
Cost-Benefit Analysis
You could have been a little more cautious while joining the public sector bank. Nevertheless, you may do the Cost-Benefit Analysis (CBA) of continuing and leaving the bank honorably.
Thanks,
Dinesh Divekar
From India, Bangalore
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8072Background and Experience
Before joining the bank, what type of work did you do? Were you in the IT industry? If yes, then on what type of technologies have you worked?
Job Concerns in the Public Sector
Generally, public sector jobs are considered cushy jobs. Yet, why do you find the job riskier than you would expect? What is your designation? Are you in the credit department? In what way does your job involve dealing with the borrowers? Are you tilting at windmills?
Transparency and Accountability Issues
Why do you say that there is no transparency and accountability? What are the chances of changing your department? Can you work in the IT department of the bank?
Cost-Benefit Analysis
You could have been a little more cautious while joining the public sector bank. Nevertheless, you may do the Cost-Benefit Analysis (CBA) of continuing and leaving the bank honorably.
Thanks,
Dinesh Divekar
From India, Bangalore
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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.
From India, Pune
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From India, Pune
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As rightly observed by Dinesh, the poster has the wrong perception about the Banking Industry, particularly being very skeptical about public sector banks because of certain stray incidents here and there. Hence, somehow or other, he wants to quit so that he can find a comfortable placement in the IT industry. There are good and bad individuals in every industry. He seems to have forgotten about the Satyam Affair, for example.
From India, Salem
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From India, Salem
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The Challenges of Working in Public Sector Banks
Whoever may say otherwise, I would assert that you are on the right path. Top bosses often go unpunished, even though they play a significant role in granting loans. Meanwhile, action is taken against juniors for simple procedural lapses in public sector banks. I have worked in such banks for the last 37 years and suffered a lot, despite working honestly and diligently. To protect some, they make juniors scapegoats. Many officers even commit suicide, unable to cope with the pressure.
Leave the bank at the first opportunity if you can. Moreover, the work atmosphere is very poor. There is no respect, no dignity. Bosses rebuke instead of motivating. Sometimes undeserving individuals reach the top and become merciless.
You may consider absconding. It is not a criminal offense. An officer in my office absconded and joined another place. He did not even pay his initial reserve fund, and nothing happened to him. Officers who work hard and take responsibility in branches suffer the most. There is a great risk, not only in credit but also in deposits.
In my case, the language of the rule was twisted to prove the charge.
Work with Happiness, Not Pressure
Work with happiness, never under pressure. God has created us to be the best. Why take pressure when you deserve a better life? An overhaul of the banking system is very much needed to make it a beautiful place, as it used to be. Top authorities, even the RBI, do not realize what ails banking because no one interacts with the junior officers who face the true challenges. I have seen many young officers leaving the bank due to this risk factor. Especially the Vigilance and Investigation departments make your life hell. These departments take cynical pleasure in chargesheeting officers, even when there is no malafide intention. Gone are the days when seniors encouraged us to work bravely, assuring us that if there was no malafide, nothing would happen to us. I have contributed significantly to the bank's growth but suffered despite not deserving it.
So quit, dear, to have a better future. Since you understand the risks, avoid them. Please do not listen to others. I have advised many to leave the bank based on my experience, and all of them are happy.
Best of luck. You may give notice or pay Rs. 2 lakhs and leave. You can leave and join somewhere else if they do not need to know about your past.
Regards
From India, Ahmedabad
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Whoever may say otherwise, I would assert that you are on the right path. Top bosses often go unpunished, even though they play a significant role in granting loans. Meanwhile, action is taken against juniors for simple procedural lapses in public sector banks. I have worked in such banks for the last 37 years and suffered a lot, despite working honestly and diligently. To protect some, they make juniors scapegoats. Many officers even commit suicide, unable to cope with the pressure.
Leave the bank at the first opportunity if you can. Moreover, the work atmosphere is very poor. There is no respect, no dignity. Bosses rebuke instead of motivating. Sometimes undeserving individuals reach the top and become merciless.
You may consider absconding. It is not a criminal offense. An officer in my office absconded and joined another place. He did not even pay his initial reserve fund, and nothing happened to him. Officers who work hard and take responsibility in branches suffer the most. There is a great risk, not only in credit but also in deposits.
In my case, the language of the rule was twisted to prove the charge.
Work with Happiness, Not Pressure
Work with happiness, never under pressure. God has created us to be the best. Why take pressure when you deserve a better life? An overhaul of the banking system is very much needed to make it a beautiful place, as it used to be. Top authorities, even the RBI, do not realize what ails banking because no one interacts with the junior officers who face the true challenges. I have seen many young officers leaving the bank due to this risk factor. Especially the Vigilance and Investigation departments make your life hell. These departments take cynical pleasure in chargesheeting officers, even when there is no malafide intention. Gone are the days when seniors encouraged us to work bravely, assuring us that if there was no malafide, nothing would happen to us. I have contributed significantly to the bank's growth but suffered despite not deserving it.
So quit, dear, to have a better future. Since you understand the risks, avoid them. Please do not listen to others. I have advised many to leave the bank based on my experience, and all of them are happy.
Best of luck. You may give notice or pay Rs. 2 lakhs and leave. You can leave and join somewhere else if they do not need to know about your past.
Regards
From India, Ahmedabad
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Understanding the Risks and Bonds in the Public Sector
The views expressed on the alleged risks are too pessimistic. In the public sector, unlike the private sector, adversarial action is not possible, other than according to law. That itself is a sufficient cushion against any risks.
The bonds are enforceable only against the costs incurred by the employer towards imparting specialized 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, not seeking cocoons against the challenges of life.
From India, Kochi
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The views expressed on the alleged risks are too pessimistic. In the public sector, unlike the private sector, adversarial action is not possible, other than according to law. That itself is a sufficient cushion against any risks.
The bonds are enforceable only against the costs incurred by the employer towards imparting specialized 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, not seeking cocoons against the challenges of life.
From India, Kochi
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It is very clear from what you write that you are more afraid than not interested in the job. But you cannot continue in any job with the fear of getting punished for no fault of yours. My suggestion to you is to find ways to raise a loan for repaying your bond money and quit the job. But before quitting, ensure you have a job in hand.
From India, Hyderabad
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From India, Hyderabad
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Consider Quitting Banking for a Better Future
As a banker with 37 years of experience, I suggest you quit immediately if you truly want to enjoy your life. Many of my young colleagues have 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 attractive job opportunities for youngsters like you.
In America, banking is considered the last resort. In India as well, banking should be seen as the last resort. Furthermore, you are lowly paid with higher risk.
Examples of Successful Career Transitions
Examples of individuals who left the bank and joined other organizations include:
1. Price Waterhouse
2. Hexel Software
3. IBM
4. TCS
5. CRISIL
6. First Caribbean Bank
Give adequate notice and leave. You are from IT; the sky is the limit for you. Consider immigrating to Canada. For this, check the internet.
Regards,
[Username]
From India, Ahmedabad
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As a banker with 37 years of experience, I suggest you quit immediately if you truly want to enjoy your life. Many of my young colleagues have 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 attractive job opportunities for youngsters like you.
In America, banking is considered the last resort. In India as well, banking should be seen as the last resort. Furthermore, you are lowly paid with higher risk.
Examples of Successful Career Transitions
Examples of individuals who left the bank and joined other organizations include:
1. Price Waterhouse
2. Hexel Software
3. IBM
4. TCS
5. CRISIL
6. First Caribbean Bank
Give adequate notice and leave. You are from IT; the sky is the limit for you. Consider immigrating to Canada. For this, check the internet.
Regards,
[Username]
From India, Ahmedabad
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Understanding Risks and Decisions in PSU Bank Jobs
Every job has inherent risks and advantages. Leaving a PSU bank job because someone 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 as you are concerned, if you do your job properly and leave a documentary trail, no one, including the FBI, can touch you.
Put up your recommendations clearly and firmly. If a loan is not safe, document your reasons. No honest official can really be punished if they do their work straight. Unfortunately, if such a thing happens (and it has happened), 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 the department sanctioning loans for your entire career. Irrational fears and thoughts cannot be the basis of quitting.
From India, Pune
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Every job has inherent risks and advantages. Leaving a PSU bank job because someone 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 as you are concerned, if you do your job properly and leave a documentary trail, no one, including the FBI, can touch you.
Put up your recommendations clearly and firmly. If a loan is not safe, document your reasons. No honest official can really be punished if they do their work straight. Unfortunately, if such a thing happens (and it has happened), 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 the department sanctioning loans for your entire career. Irrational fears and thoughts cannot be the basis of quitting.
From India, Pune
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Shri Nathrao has very rightly stated, "Every job has inherent risks and advantages."
But I wonder, another anonymous person has advised you very wrongly, specifically to abscond from your duty. A question arises: if he thinks he has worked honestly and diligently, why, by quoting an example of one absconder from his own organization, did he prefer to advise you dishonestly, which can mar your career? Another question arises: if the HR of his own organization was lethargic, sluggish, or inactive, can he guarantee that your organization's HR would also follow suit?
Still further, if he has advised you to abscond from your duty, why is he himself sticking to his post for the last 37 years? Why not resign or abscond when he claims to have suffered a lot?
Anyway, although I am not advising you to continue with your disliked job, absconding is never advisable in your case, especially at the very beginning of your career, as the blot of being a deserter may haunt your career wherever you go when background verification is conducted by your future employer, especially in an industry like IT where there is zero tolerance. You must leave your post if not liked by you, but follow rules and regulations patiently before resigning in a proper way and without displeasing the management of your organization by your uncalled-for actions.
Your fear about banking jobs being too risky is not sustainable. Don't think that every employee of the bank is charged by the CBI. If everyone starts thinking like you, nobody would even consider appearing in tests and interviews conducted by banks.
Although there are set targets in the banking industry for parking public funds as a prime requirement, as funds cannot be kept idle or unprofitable, it does not mean that loans should be sanctioned recklessly without following appropriate verification processes and sidelining due diligence norms due to pressures or targets from higher-ups. If a bank employee works honestly and sincerely by applying due diligence, unyielding to pressures, the management or the CBI cannot question the employee. In a very recent case of a Bank Manager, although he faced pressure from his superior office for the sanction of an OD in a housing loan case, when he found that the applicant's request for an OD of 10 Lakhs could not be fulfilled according to entitlement and paying capacity, he flatly refused to budge under the pressure of higher-ups. Although a serious complaint was lodged against the Manager, when he justified his decision based on facts and figures, the applicant was compelled to withdraw the complaint without any action taken against the Manager.
So, either fulfill the bond conditions or convince the management to relax the bond conditions before you submit your resignation. Seeking relief from the post may help you a lot in getting worry-free freedom from the present job and in the search for another job of your liking.
The rest depends on your own wisdom.
Best of luck!
From India, Delhi
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But I wonder, another anonymous person has advised you very wrongly, specifically to abscond from your duty. A question arises: if he thinks he has worked honestly and diligently, why, by quoting an example of one absconder from his own organization, did he prefer to advise you dishonestly, which can mar your career? Another question arises: if the HR of his own organization was lethargic, sluggish, or inactive, can he guarantee that your organization's HR would also follow suit?
Still further, if he has advised you to abscond from your duty, why is he himself sticking to his post for the last 37 years? Why not resign or abscond when he claims to have suffered a lot?
Anyway, although I am not advising you to continue with your disliked job, absconding is never advisable in your case, especially at the very beginning of your career, as the blot of being a deserter may haunt your career wherever you go when background verification is conducted by your future employer, especially in an industry like IT where there is zero tolerance. You must leave your post if not liked by you, but follow rules and regulations patiently before resigning in a proper way and without displeasing the management of your organization by your uncalled-for actions.
Your fear about banking jobs being too risky is not sustainable. Don't think that every employee of the bank is charged by the CBI. If everyone starts thinking like you, nobody would even consider appearing in tests and interviews conducted by banks.
Although there are set targets in the banking industry for parking public funds as a prime requirement, as funds cannot be kept idle or unprofitable, it does not mean that loans should be sanctioned recklessly without following appropriate verification processes and sidelining due diligence norms due to pressures or targets from higher-ups. If a bank employee works honestly and sincerely by applying due diligence, unyielding to pressures, the management or the CBI cannot question the employee. In a very recent case of a Bank Manager, although he faced pressure from his superior office for the sanction of an OD in a housing loan case, when he found that the applicant's request for an OD of 10 Lakhs could not be fulfilled according to entitlement and paying capacity, he flatly refused to budge under the pressure of higher-ups. Although a serious complaint was lodged against the Manager, when he justified his decision based on facts and figures, the applicant was compelled to withdraw the complaint without any action taken against the Manager.
So, either fulfill the bond conditions or convince the management to relax the bond conditions before you submit your resignation. Seeking relief from the post may help you a lot in getting worry-free freedom from the present job and in the search for another job of your liking.
The rest depends on your own wisdom.
Best of luck!
From India, Delhi
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Legal Considerations for Resigning with an Indemnity Bond
An indemnity bond with a public sector requires legal intervention. Please consult with a lawyer on potential solutions. Find a compelling reason to resign, such as health or family issues that require your indefinite presence. Prepare supporting documents and then resign, being aware of the legal aspects you may need to address.
Exploring Buyout Options
Does your employer offer a buyout option for the bond? That may be your best exit strategy. How far is your native place from your work location? Could you use that as a reason for resigning?
Understanding Precedents
How have other employees departed within the first two years of employment, and what were the consequences?
I look forward to hearing from you!
From India, Mumbai
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An indemnity bond with a public sector requires legal intervention. Please consult with a lawyer on potential solutions. Find a compelling reason to resign, such as health or family issues that require your indefinite presence. Prepare supporting documents and then resign, being aware of the legal aspects you may need to address.
Exploring Buyout Options
Does your employer offer a buyout option for the bond? That may be your best exit strategy. How far is your native place from your work location? Could you use that as a reason for resigning?
Understanding Precedents
How have other employees departed within the first two years of employment, and what were the consequences?
I look forward to hearing from you!
From India, Mumbai
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