Dear Dhanlaxmi colleagues/Friends
You are one of the witness of the recent strikes in our bank (Dhanlaxmi Bank) since last couple of days. We hope that you all know the reason behind it.
In early 2009, Dhanlaxmi Bank had a employee strength of 1700 which had witnessed an increase since September 2009. This is due to the change in management and Mr. Amitabh Chaturvedi being appointed the Managing Director and CEO of Dhanlaxmi Bank.
Mr. Chathurvedi during his tenure has always highlighted that our bank will become one of the 5th largest bank in India
Those people who have joined Dhanlaxmi Bank under C to C have started performing and the Balance sheet of Dhanlaxmi Bank from the size of 8000 crores in 2009 rose to 24000 crores in 2011 March. C to C employees were instrumental in bringing multiple business like Life insurance, General Insurance, CASA and Fixed Deposits, Advances etc...
The Paradigm shift we have observed in this bank is due to these C to C employees and their contribution towards this bank which was acknowledged and appreciated, by then management under Mr. Chathurvedi. However the management under Mr. Chathurvedi did not reward them with the promised bonus, incentives and increment.
Mr. Chathurvedi had left the orgnaisation in the month of February 7th of this year and the Board of Directors have appointed Mr. Jayakumar as the CEO and the MD of Dhanlaxmi Bank. Mr. Jayakumar having more than 32 years of experience was the highlight for all the employees(both C to C and IBA) since he carry the identity of being democratic.
Unfortunately, Mr. Jayakumar followed undemocratic path of progress and his first choice was to scull all C to C employees. Most of the employees under C to C has been denied IBA (Indian Banking Association recommended financial package) and they have been asked to put the papers in the first week of June 2012. Most of the employees who had self esteem have rejected Mr. Jayakumar's move and they started to form a consensus which resulted in grouping and striking against Mr. Jayakumar's decision.
By the end of the of June 2012, many of the C to C employees who have been asked to put their resignation have started receiving transfer orders to North India . C to C employees consider this as a move to terminate their services after 2 or 3 months in North Indian Locations. This is because all of them who are from Kerala lacks the expertise in speaking other regional languages and their jobs in North India involves high expertise in Hindi/Marathi/Punjabi/Telugu to produce business.
All C to C employees who have been asked to move to North Indian locations on or before 12th of July, and those employees under C to C who are waiting for the transfer are resisting Mr. Jayakumar since they consider the threat of retrenchment.
When Mr. Jayakumar and his allies claim that the entire process of retrenchment is to save Dhanlaxmi bank from the financial crisis. C to C employees are dejected with the decision of Mr. Jayakumar for his decision of recruiting 100 new faces to this bank and out of which 40 of them have already joined.
We C to C employees have few simple question to ask to Mr. Jayakumar and the management
+Why did Mr. Jayakumar kept silent while recruiting C to C employees in 2008-2009? -Mr. Jayakumar was a prominent figure in Dhanlaxmi Bank at that time and he could have raised his concern.
+ What was the need of conducting exams for SO's? – All SO’s should have been given SCALE –I as soon as they have completed the probation
+ Since the exam were online, why the management took more than 1 month to release the list of selected candidates? -The entire process was opaque and lacks transparency, let all of us know the achieved marks of all SO's. Was there any corrupted practice to entertain persons of managements interest.
+ What was the parameter in awarding IBA to all C to C employees? -Did management consider the parameters like performance, Integrity, experience?
+What was the parameter in rejecting IBA to C to C employees? -Was it lack of integrity, non performance, lack of experience
+ When the financial crisis is on why Mr. Jayakumar had taken a decision to recruit new faces to this bank? - 100 people have been recruited, 40 of them joined?
+ Why the management under Mr. Jayakumar is hesitating to close down the corporate office (an office used by Mr. Chathurvedi former MD of Dhanlaxmi bank) at Mumbai which has a rent of more than 50 lacs per month = 6 crores an year? - What about other offices in Mumbai other than the branches.
+ Why the salary of some high value employees based in Mumbai has left the cut imposed by the bank as an austerity measure? Mr. Jayakumar and the management lacks the courage to implement this due to political reasons?
It is observed that those people who have not contributed income to Dhanlaxmi Bank since last 11 months, and those who are new to Dhanlaxmi Bank, are given opportunity to IBA !!!!
Friends, we are not against Dhanlaxmi bank, we have the eligibility to be in IBA since our performance is excellent since last 3 years and we are ready to perform the way we did in the past, but why this discrimination? We still fail to understand ?
Management claims that a few employees of 360 in nos are responsible for the loss of 115 crores. Have they done any homework before they say this? Have they considered performance parameters of all employees? Why they hesitate to do the performance appraisal of each of the employees?
Hope our struggle is an eye opener for all people in the management and call for all our fellow employees to think “What is right and What is Wrong”. Lets show the guts to call an Spade an Spade
HAIL DHANLAXMI BANK
