What ails public sector banks?

Two books written by public sector bankers flag symptoms that range from seemingly small episodes to serious, reputation- ruining actions

My schoolmate, a general manager (GM) in Uco Bank, retired in March. A series of farewell functions kept him busy during his last days in office, and even after retirement. Not every public sector banker is this lucky.

Take the case of S Aftab, who had retired as a GM of Union Bank of India a few years back. In his book,

But his hopes were dashed when one GM and an executive director (ED) of the bank retired on the same day.

Around noon, he got a call from the HR department to gather in the boardroom for the farewell of the GM.

It was unusual - a cold farewell. The main function was held at the canteen for the ED, and the general managers were "given to understand that no one else should share the laurels with the ED".

AGM's retirement date coinciding with that of an ED or managing director (MD) was unfortunate. Aftab suggested to the HR department that the GM's farewell could be arranged a day later so that the retiring GM did not feel dejected. But the HR department was in no mood to listen to him.

His own retirement date coincided with that of his chairman and management director (CMD). Once again, Aftab tried to convince the HR head, but "he was more loyal to the king than the king himself". Aftab even took it up with the ED, but to no avail.