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The 'private lender' tag to IDBI Bank has forced more than 60 assistant managers of the bank to approach the High Court of Kerala seeking direction for transfer to other nationalised/ public sector banks (PSBs).
The petitioners submitted that they could be transferred/ deployed to thousands of vacancies in any of these banks 'without causing heartburn or inconvenience to anyone.'
The decision of the Centre, the first respondent, to dilute its stake below 51 per cent in IDBI Bank goes against the undertaking given by the then Finance Minister to Parliament, they argued.
AGE HURDLE
A majority of the petitioners are over-aged and have little chance of employment in the public sector or reputed firms. Therefore, the respondents listed in the case ought to have considered their grievances.
Other respondents include the Department of Economic Affairs, LIC of India, IDBI Bank, the Insurance Regulatory and Development Authority of India, the Institute for Banking Personnel Selection (IBPS) and the Reserve Bank.
The Government or its instrumentality cannot alter service conditions of employees and any alteration causing prejudice cannot be made without affording them an opportunity to be heard, the petitioners said, citing BCPP Mazdoor Sangh vs. National Thermal Power Corporation.
They prayed that that they be declared as eligible and entitled to continue in service as officers with nationalised banks/ PSBs. The IDBI Bank must permit them to get postings under any one of them.
RESTORE ALL BENEFITS
Being entitled to protection of service conditions as officers of PSBs, they prayed for directions calling for and quashing records to the extent that they are denied/ deprived of associated service conditions.
The IBPS may be directed to transfer/ deploy the petitioners forthwith or at least simultaneously, with acquisition of 51 per cent stake in IDBI Bank by LIC of India.
The petitioners prayed for issue of orders for their transfer with all service benefits, such as pay and allowances status and seniority, career advancement and promotion, superannuation and retirement benefits.
They may also be declared eligible and entitled to continue as employees in nationalised banks/ PSBs and granted necessary orders deemed fit and proper to secure justice.
It is for no fault of theirs that the petitioners, originally recruited to a PSB, would now become a part of private banking company.
'VIOLATES CONSTITUTION'
Their legitimate expectations have been belied, fundamental rights taken away, and service conditions badly affected. They are expecting a re-allotment by the IBPS, since it is the recognised recruiting agency.
After all, 'the petitioners have every right to be re-deployed, because they had undergone a thorough and competitive selection process for recruitment into PSBs.'
The action evidenced in depriving the service conditions of the petitioners by applying guidelines applicable to private banks is arbitrary and violative of Article 14 of the Constitution.
The petitioners are governed by the Service Rules, Conduct Rules as well as the Appeal Rules applicable to other PSBs. Their salary, allowance, provident fund, gratuity and other service benefits are similar to those of PSBs.
"The unilateral ouster of the petitioners from the category of PSBs to private banks goes against natural justice and (our) legitimate expectations," the petitioners contended.
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