Srinagar: HDFC bank has invited sharp criticism after the top management of the bank asked its 12 managers to submit resignation beforehand incase they fail to meet the target, they will automatically be terminated.
The threat was issued to the HDFC employees during a business review meeting conducted by the bank at the business school of Jammu University’s MBA department, sources privy to the meeting said.
The head of bank’s JK circle Zubair Iqbal was also present on the occasion including the six HDFC cluster heads for the state .
Human Resources head Sajad Ali was also present in the meeting besides all HDFC managers working in the state.
During the meeting, sources said that HDFC senior officals used abusive and unparlaimentary language so as to pull the managers heading the branches in Jammu and Kashmir to “do more” with limited manpower.
During the meeting the heads of HDFC asked the cluster heads that a manager should perform the work of two managers or else they should be shown the door.
“It means if 12 managers are working in the same number of banks, they should be reduced to six,” sources said.
Sources said the managers were also asked to submit their resignations from Monday onwards so as to press them for more work.
“The top officals said in case the managers failed to uplift the business and meet the targets, they will consider their resignations. They gave the managers a deadline of two months to uplift the business. The managers termed it sheer blackmailing as they said the HDFC bank was doing well and expanding. The higher officials want them to double the business so as to squeeze the JK banks market.”
As the bank officials demanded resignations by Monday, a bank manager who works at HDFC’s Kupwara branch, Rayees Qureshi, fainted and was taken to the medicentre hospital Jammu for treatment.
“He works under the HDFC cluster head Showket Nehvi,” sources said.
Pertinently under Nehvi’s supervision a girl from Sopore committed suicide alleging he was pressurizing her to get more business.
In her suicide note she said she was ending her life since their cluster head Nehvi was pressurizing her all the time to get more business.
Nehvi was, however, reinstated later after remaining under suspension for some time.
The sources also said the HDFC managers were highly upset with the bank as their Human resource manager was also asked to attend the meeting, which is against the ethics of the bank.
“The job of human resource manager is to safeguard the jobs, not to be part of a gang to cut the jobs by resorting to blackmailing,” sources said.
“All of the managers of HDFC bank are highly upset and unnerved with the bank decision. They have left their jobs at JK bank to work at HDFC. But, it seems it was a bad decision for them.”