Hi, I am working in the 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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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 you in the IT industry? If yes, then on what type of technologies have you worked?
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?
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?
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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8036My 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 you in the IT industry? If yes, then on what type of technologies have you worked?
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?
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?
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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Dear Anonymous,
Whoever may say, I would say that you are on the right path. Top bosses go scot-free although they are instrumental in giving loans. Action is taken on simple procedural lapses against juniors in PS banks. I have worked in such banks for the last 37 years and suffered a lot, although I worked honestly and diligently. To save some, they make the juniors scapegoats. Many officers commit suicide not being able to cope up with the pressure.
Leave the bank at the first instance if you get the opportunity. Moreover, the work atmosphere is very bad. No respect, no dignity. Bosses rebuke instead of motivating. Sometimes undeserving persons reach the top and become merciless.
You may abscond. It is not a criminal offense. One officer in my office absconded and joined somewhere. Even he did not pay his initial reserve fund. Nothing happened to him. Officers who work so hard and take responsibility in branches suffer the most. Not only credit in deposits, but also, there is great risk.
In my case, the language of the rule was twisted to prove the 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, do not realize what ails banking because no one interacts with the junior officer who face the true challenge. I have seen many young officers leaving the bank due to this risk factor. Especially the Vigilance department, the investigation department make your life hell. Such departments take cynical 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 happen to you. I have contributed a lot to the growth of the bank, but I suffered even though 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 the bank as I advised them out of my experience, and all of them are happy.
Best of luck. You may give notice or Rs. 2 lakhs and leave. You may leave and join somewhere else if they do not need to know about your past.
From India, Ahmedabad
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Whoever may say, I would say that you are on the right path. Top bosses go scot-free although they are instrumental in giving loans. Action is taken on simple procedural lapses against juniors in PS banks. I have worked in such banks for the last 37 years and suffered a lot, although I worked honestly and diligently. To save some, they make the juniors scapegoats. Many officers commit suicide not being able to cope up with the pressure.
Leave the bank at the first instance if you get the opportunity. Moreover, the work atmosphere is very bad. No respect, no dignity. Bosses rebuke instead of motivating. Sometimes undeserving persons reach the top and become merciless.
You may abscond. It is not a criminal offense. One officer in my office absconded and joined somewhere. Even he did not pay his initial reserve fund. Nothing happened to him. Officers who work so hard and take responsibility in branches suffer the most. Not only credit in deposits, but also, there is great risk.
In my case, the language of the rule was twisted to prove the 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, do not realize what ails banking because no one interacts with the junior officer who face the true challenge. I have seen many young officers leaving the bank due to this risk factor. Especially the Vigilance department, the investigation department make your life hell. Such departments take cynical 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 happen to you. I have contributed a lot to the growth of the bank, but I suffered even though 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 the bank as I advised them out of my experience, and all of them are happy.
Best of luck. You may give notice or Rs. 2 lakhs and leave. You may leave and join somewhere else if they do not need to know about your past.
From India, Ahmedabad
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We fail to understand why there is so much fear in the mind of Mr. Anonymous. Though there is no doubt regarding the pressure on Public Sector Banks, which ultimately has to be absorbed by employees, in any case, such types of pressures will always be present in all jobs. Even if we decide on entrepreneurship, it will have its own inherited challenges. It is advisable that situations like these need to be dealt with a brave heart.
'Optimus Consultants'
09672616784
From India
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'Optimus Consultants'
09672616784
From India
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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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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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I had replied to this thread yesterday, but it did not get posted. Perhaps, Cite wants to avoid facing reality and does not want to call a spade a spade. As a banker for the last 37 years, I suggest you quit immediately if you truly want to enjoy your life. Many of my colleagues who are youngsters 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 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.
From India, Ahmedabad
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From India, Ahmedabad
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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, 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 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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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 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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Dear Anonymous Querist,
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 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, which can mar your career? Another question arises: if the HR of his own organization kept lethargic, sluggish, or inactive, in that case, can he guarantee you that your organization's HR would also follow suit of his organization?
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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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 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, which can mar your career? Another question arises: if the HR of his own organization kept lethargic, sluggish, or inactive, in that case, can he guarantee you that your organization's HR would also follow suit of his organization?
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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Dear Nathrao,
I do not know if you are from the bank or not, but perhaps you do not know what is happening in banks. A small example: the most honest officer is categorized as an officer of doubtful integrity. This is the bank! Severe penalties are awarded for no fault or for a matter not related to banking, with no financial loss. Banks do not run within the rules but as per the whims of the higher authorities. Rules are not followed. Even the GMs are afraid of the CVO to call a spade a spade! Juniors are scapegoats.
From India, Ahmedabad
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I do not know if you are from the bank or not, but perhaps you do not know what is happening in banks. A small example: the most honest officer is categorized as an officer of doubtful integrity. This is the bank! Severe penalties are awarded for no fault or for a matter not related to banking, with no financial loss. Banks do not run within the rules but as per the whims of the higher authorities. Rules are not followed. Even the GMs are afraid of the CVO to call a spade a spade! Juniors are scapegoats.
From India, Ahmedabad
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Anonymous,
I am not from the bank. Despite what you say, lakhs of people apply for bank jobs. The 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.
From India, Pune
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I am not from the bank. Despite what you say, lakhs of people apply for bank jobs. The 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.
From India, Pune
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Greetings,
An indemnity bond with a PS 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.
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?
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 PS 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.
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?
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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