The Hindu Business Line : Punjab & Sind Bank to `wear' a new look

PUNJAB and Sind Bank (PSB) is attempting a facelift that could well set a trend in the public sector banking industry. Neckties are now a must as part of a dress code that is being strictly implemented.

Frequent surprise checks are undertaken by senior officials to ensure that employees are maintaining proper `decorum' in office. Instructions are out that latecomers would be booked.

"We want to bring in a work culture and a new look that would match any foreign bank and the new generation private banks," says the Chairman and Managing Director, Mr N.S. Gujral. Instructions on the dress code and other related issues have been issued this September along with simultaneous missive to senior officials that they should go surprise checks to ensure proper conduct in office.

He said that the silver lining to his attempts at changing the face of the bank is that there has been no resistance to the moves from any of the employees' unions. "All unions in the bank have gladly accepted the need for the attempts being made by the management and have given their full consent to me," Mr Gujral said.

He said that the drill starts every morning with a high-ranking officer, often of the rank of General Manager, standing at the entrance of the building to spot the latecomers. "The result of it is that as on date there are hardly any latecomers to office. Earlier, we had a problem on this count," Mr Gujral said.

Along with this, a detailed circular has been issued to all staffers on methods of curtailing expenditure that includes a complete halt in fresh capital expenditure except with the written consent of the CMD, curtailing of allowances, restricting telephone and electricity use and adoption of cheaper modes of transport while travelling on official purpose. "We have decided on advising our staff on expenditure control for the remaining months of the fiscal in order to maximise our profits," Mr Gujral said.

He admits that success of the new initiative may appear to be difficult task but at the same feels that it is something worth giving a go. "We have decided to restrict the experiment to the head office in the first stage of implementation. Once we feel that we have been successful here we would attempt to spread the exercise to the regional offices and branches. It would take some time for all the staff to get used the new work environment. But I am sure it would go a long way in improving the overall profitability of the bank if we are able to maintain and environment that is pleasing to the customers' eye," he said.

PSB, a one-time laggard among public sector banks which has been carrying with it the tag of a `weak' bank has now been certified by the Government of being in good health. The bank has been recording profits for several years and had ended up year 2001-03 with a net profit of Rs 23 crore.

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