Shri R.

Koteeswaran
CEO & Managing Director
Indian Overseas Bank
Central office
Chennai 600 002
Dear Sir
A SUGGESTION: INDIAN OVERSEAS BANK EMPLOYEES EMPLOYMENT
SUBSTITUTION OPTION SCHEME, 2015 (ESOS)
There has been concern. There has been anxiety. There is a general feeling our Banks
growth parameters are not moving, as they should be. From a preeminent position of
being the number one-Uno public sector in 1997 we have now plummeted to the nadir
with gross NPA of IOB exceeding Rs.16000 crores or 9.4% of gross advances, net NPA is
6.3% of net advances, loans to industries consisting of 62% of total NPA. IOBs
provision coverage ratio is 50.8% as on end of June, the stress assets ratio or gross NPA
pus restructured assets was 19.4% as on end of March. There are news reports that the
Central Bank has asked the bank to strengthen loan dues recovery as well as stopped IOB
from opening new branches, recruiting new staff and is using it as a benchmark in poor
Banking to compare other Banks performances. These signs are unmistakable. IOB is in
a pressure cooker situation. The heat and pressure within the vessel has crossed the
safety limits, trigger points and there is a danger of imminent explosion. If it is allowed
to happen, it will be disastrous to all of us as we may have to face the ignominy of being
classified as distressed bank. I would not like to go into the details for this sluggish
growth, nor would we like to give excuses or kick start meaningless blame games. We
cannot be bad carpenters complaining about tools and instruments.
Needless to emphasize that as in the IOBians have performed the miracle in the past and
pulled the Bank out of the rut and shall repeat the resilience to get the bank going once
again to the pre-eminent position. Given the proper fillip and confidence IOBIANS have
often proved we can not only fulfill the targets set by the Bank, but even overshoot it.
All this, however, does not mean that the last more than 75 years have been a story of
unmitigated success. There have been setbacks but these were fewer than success. As
Will and Ariel Durant have said in their book The Lessons of History". The future
never just happened. It was created. But we also know that we live in a world of
change, and we cannot act on the basis of continuity. Our creation of the future depends
upon how correctly we anticipate the change and prepare ourselves for it. It is the way of
life to get disturbed with change and as much as possible try to avoid and resist it.
People like continuity because they get a sense of safety and security with what they are
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familiar with. But every self-renewing organisation knows the discontinuity of

continuity. It learns to anticipate change and prepare for it, so that it could make change
work for it, not against it. Its approach is to recognise that change is natural and to be
expected and that continuity is unnatural and to be suspected. Over 65 years of odyssey
of AIOBEU will bring out that for us change is familiar and is always welcome. We
never see in change a cause for alarm but reason for action. Instead of yielding to the
impulsive temptation to tame or ride out change, we think how to ease it, how to exploit
it, how to make it a partner. We think of change not as presenting problems but as
offering opportunities. With this convictions without caring whether we will be exalted
or decried, we entered into the 1 st ever Computerisation Settlement during June 1991 with
a clear, convinced conscience that IOB has to retain its lead role in art technology. We
shall continue this pragmatic approach.
I believe that every adversity, every failure, every heartache carries with it the seed
of an equal or greater opportunity.
I am aware when writing these lines that at this very moment, few staff matters remain
to be solved. But it is also a fact that any trade union of our size will have at a given
moment some problems awaiting solutions. While organizations shall be devoting their
attention to them simultaneously, we shall not be found guilty by posterity for having
tried to bargain for our ends in a unique way once again with the suggestion given below.
For each IOBIAN Customer is life. IOB is their Jeevan.
Any organisation of long standing over a period of time develops philosophy, a series of
traditions, and a set of moves. These, in total, are unique and they fully define the
organisation, setting it aside for better or worse, from similar organisations. In that sense
IOB is a unique organisation. One feature that is distinct with IOB is that the top
management firmly believes that the fact, being top of hierarchy does not confer upon it
all-seeing wisdom. While it is true that the responsibility for setting the direction
rests with the top management, the finalisation has been interactive process
between the top management and our Union for running the business at a wide
range of levels. In this process, we gain the commitment of those who will have to
follow the direction - and make it happen. In a democratic style of functioning, it is
unlikely to get commitment, without a high degree of involvement and understanding of
various levels where the ultimate goal is, and the process by which the decision regarding
that goal have been reached. A high degree of constructive conflict is inevitable in such a
process. But if the right decisions are to be taken, it is essential that conflicting views are
heard and thrashed out. We believe this is how we do in the Bank.
The Union and officer association always strived to contribute for increase in personal
responsibility and cultivate motivation. This has created in us an inner pride, which is
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the enforcer of self-imposed standard of excellence. The reason for striving for
excellence in our work, whatever it may be, is a harmlessly selfish one. Doing a
job surpassingly well generates a pleasurable glow of pride. On the other hand, it is an
emotional letdown to turn out work that you know is not as good as it could be. Like the
14th Army men of Field Marshal Slim in Burma during World War II, we also do not say
that we welcome difficulties,
but take a fierce pride in overcoming them
by
determination and ingenuity. This has always made us stay ahead.
This way, we develop people and also the pride in them to belong to the institution.
When we talk about Human Resources Development (HRD) we do not imply that
orientation of personnel management is to regard employees as inputs to the
business process. What we believe in is Development of Resourceful Humans.
(DRH)
With the hope Only a sound and ever progressing IOB alone will ensure prosperous
future to stake holders ,shareholders ,.clients and with the hope IOBians have resilience
to turn around I give below the my first suggestion , in the context of moratorium
imposed on further recruitments by the Central Bank as news paper reports tell , with a
view to scout for young talents to consider the following scheme after discussion with
the union and associations whose insights and inputs can develop my rough sketch my
suggestion below introduction of INDIAN OVERSEAS BANK EMPLOYEES
EMPLOYMENT SUBSTITUTION OPTION SCHEME, 2015 (ESOS) ( Scheme
enclosed )
Sir, we have the best work force. We have devoted and committed soldiers. We have all
the potential to acquire and attain the first place in all respects. The will and
determination we have will have been transformed fully into result oriented actions in the
past.
The one who is courageous never has a doubt of being fortunate. Even if there are
difficult situations and challenges, the faith of being fortunate never fades away. This
faith enables such a person to recognize and use the available resources in a worthwhile
way. Even during difficult situations, there is never a need to stop as faith gives courage
to move on. Leaders do not invent motivation, they unlock it. They work with What is
there. What is there is a generally great tangle of motives. Leaders tap these that serve
the purpose of group in pursuit of shared goals. Let our objective or ambition like that of
the great explorer Captain Cook has to be not only to go further than any man had ever
been before, but as far as possible for a man to go? With the ardent conviction
Employees Duties Are The Management Rights And Management Duties Are Employees
Rights, I am placing the enclosed suggestion mentioned above taking into account we
have to reenergize , re-induct young force through our available means( with the Central
Bank directing no further recruitments) to meet the challenges bordering the future with
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a significant number of senior clerks and middle ,senior management executives due
to retire over the next few years and the leadership pipeline perilously thin . .
Awaiting your just response and feedback
Yours faithfully
S.SRINIVASAN
S.Srinivasan
Retired bank unionist
& Former Director of IOB
10-10-2015

The Marvelous richness

Of human experience would
lose something of its rewarding joy
if there were no limitation to overcome.
The hill top hour could not be
Half so wonderful if there was no
Dark valleys to traverse