Today a copy of letter said to be that of the MD of State Bank of India is doing rounds. In today’s world nothing can be authentic and the quality of the letter looks too good to be fake. The letter forbids holding of any kind of felicitation program until end of December this year. Along with the felicitation programs its aliases in the name of conclave and education trip has also been put on hold.
The last sentence of the letter is interesting, all dimensions have to be considered before felicitating a staff.
What is the inspiration behind the letter? The country’s largest lender decided to put advances on backseat and go all out to canvass business for its Life insurance JV (which is a private limited firm). Enormous pressure were put on its official to convert its deposits into life insurance policies. Gullible people believing the words of the Branch officials out their money into insurance schemes thus locking their money for the next 15-20 years.
Even funny part is this is at a point of time when the Bank is facing an acute deposit cruch, unheard of in memorable recent past.
It gets even funnier when SBI Life has literally cut down its agents (BDMs you may call). So they have almost zero investment and all profit.
People with no training sells you the product. (There are training sessions, but its an excuse to get drunk)
So towards the end of the month, the wise men realise they haveno bread and butter in the table.
And here starts the rightful indignation
