AIBOC CIRCULAR NO. 93 DATED 17.10.2011

AIBOC issued its circular No. 93 dated 17.10.2011 on Dhanalakshmi Bank. We are reproducing the same here for our readers.

CIRCULAR NO.93                                                                 DATE: 17.10.2011

TO ALL AFFILIATES/MEMBERS:

AIBOC BLOWS THE WHISTLE

Comrades, our affiliate, Dhanalakshmi Bank Officers’ Organisation (DBOO) has been waging a historic struggle against the anti-trade union activities of their Management. Since the last two years,  Dhanlaxmi Bank’s management has been systematically engaged in activities to crush the trade union movement. Our Office Bearers and members were insulted, sidelined, discriminated and threatened. AIBOC Kerala state unit and Central unit had tried sincerely to intervene and settle issues.  But all attempts at settling the industrial relations crisis have been in vain, as the Management staunchly refused to have any Bilateral talks. One of the pre-conditions of the management to hold a discussion was that, our affiliate DBOO should delink itself from the AIBOC unit, should not issue Circulars, should not demonstrate or protest against the questionable acts of the Bank. It has been more than a year since the Management had any structured meeting with our affiliate or look into their grievances.

The issues that started with the allotment of ESOP, non payment of bonus and arbitrary cutting of IBA approved benefits have snowballed into a major industrial crisis now. Today, reckless spending has dwindled Bank’s profit. Unhealthy practices in accounting and provisioning for loans are rampant. The “over reliance” on purchase funds to boost the results. Asset liability mismatch may weigh down the Bank as reported in financial news paper “ Economic Times” dated 14.10.2011.

AIBOC Kerala Unit has submitted a memorandum before the RBI Office, Trivandrum to conduct a detailed enquiry afresh into the affairs of the Bank and to initiate steps to merge Dhanlaxmi Bank with a nationalized Bank, before things get out of control. AIBOC Kerala state committee also conducted a Dharna before the RBI Trivandrum on 11thOctober, 2011. Prof.Thomas Issac MLA (ex –finance minister, Kerala)  inaugurated the dharna. Sri.Jospeh Vazhakkan MLA (KPCC General Secretary and AICC member) also spoke on the occasion  and offered all support. State leaders of UFBU constituents like AIBEA, NCBE, BEFI also pledged their support for the agitation.   Most of the Kerala state leaders of different affiliates of AIBOC  spoke   on the  occasion  apart  from  our national  senior  Vice  President Com. P. V  Mathew, National Vice President P V Sivasankara Pillai and state secretary Abraham Shaji John.

The Management of Dhanlaxmi Bank has reacted to it in a bizarre fashion. In the media, their Managing Director has been highlighting his growth stories (in %) in a bid to evade inconvenient questions relating to the alleged malpractices.  The MD has also made a statement in the media that, he will move against the trade unions legally. We welcome the move of the Bank, as it will provide an opportunity for us to place the facts before the judiciary for justice.

They are also misguiding the investors with false figures, branding our affiliate as minority union.  Out of 565 permanent Officers in the Bank, 530 are members of DBOO.  The Officers recruited on CTC base and SMGS – IV and above are not permitted by the Management to either form their own Association or to join any recognized majority Association for DBOO officers.

We compliment Comrades of Kerala State Unit of AIBOC for rising to the occasion to protect the interest of Dhanalakshi Bank, its customers, staff and shareholders. The crusade will continue, until true picture and evil design of the present Management is exposed to the Public at large.

The Executive Committee of AIBOC will meet shortly and decide on future course of action.  Our State Unit has submitted a memorandum to the Chief Minister of Kerala State on 14.10.2011.  We are also writing  to the RBI and Govt. of India to save DBOO.

Such Open threats to the trade union movement, discharging its “watchdog” role are outrageous. In the event of any action on the Comrades of AIBOC, particularly DBOO, it will be retaliated on a stronger note. Any attempt to gag the mouth of a “whistle blower” with open intimidations, or using the Bank’s penal measures will be countered with approved trade union actions. Members are required to be in readiness for any action for furthering the cause of DLB comrades.

With greetings,

Sd/-

(G.D. NADAF)

GENERAL SECRETARY