CHENNAI: The Indian Overseas Bank’s administrative realignment of its existing regions and regional offices that is set to see 10 regional offices shutdown will not be accompanied by any re-trenchment and is purely for administrative purposes, said sources in the bank.
Marumalarchi Dravida Munnetra Kazhagam (MDMK) leader Vaiko had released a statement condemning what he called an anti-Tamil Nadu bias in the bank.
Reacting to the statement, officials of the bank said that the shutdown of the 10 regional offices — three of which are in Tamil Nadu were purely an administrative re-alignment of regions and branches.
“The 10 regions will be re-organised and absorbed into adjoining regions. People who work in the soon-to-be-shut regional offices will be absorbed into other offices. There will be no retrenchment,” clarified a senior bank official.
The 10 regional offices set to axed and absorbed are Agra, Rajkot, Jalandhar, Hubli, Mysore, Kozhikode, Nagapattinam, Tirupur, Dindigul and Tirupati.
Branches that were reporting to these regional offices will now report to the regional offices under the newly re-organised regions under which they come.