Hyderabad: In an attempt to end discontent among employees of ING Vysya Bank, Kotak Mahindra Bank said that it will protect their interests after both banks are merged. “Kotak Mahindra Bank is a fair employer and will ensure that all employee grievances are addressed in a just and transparent manner, consistent with applicable laws. Therefore, there is no question of depriving any employee anything under the guise of the proposed merger,” Dipak Gupta, joint managing director of Kotak Mahindra Bank said in his letter to ING Vysya Bank CEO-designate Uday Sareen.
The letter comes after ING Vysya Bank’s employees have threatened to go on a strike in the first or second week of January.ING Vysya Bank Employees Union general secretary K.J. Ramakrishna Reddy and bank officers association general secretary S.A. Sridhar had accused bank management of not consulting its employees before deciding on the merger.
The discontent among the employees is primarily because of the fear about job losses due to a possible rationalisation of the merged entity’s branch network. Responding to the demands made by ING Vysya Bank Employees Union and ING Vysya Officers Association, Mr Gupta promised that Kotak will honour all existing IBA settlements and bi-partite agreements between ING Vysya Bank and its employee unions or associations on employment terms, wages, welfare measures, superannuation benefits.
