On June 5, HDFC Bank took the decision to suspend one of its officers in Kolkata after allegations of disruptive behavior towards colleagues during an internal meeting. A video circulating on Twitter captured the officer shouting at his junior colleagues for their perceived failure to meet targets in selling banking and insurance products.
In a statement provided to Moneycontrol, HDFC Bank acknowledged the social media report and confirmed the suspension of the employee pending a detailed investigation in accordance with the bank’s Conduct guidelines.Emphasizing their commitment to maintaining a respectful and dignified work environment, HDFC Bank reiterated their zero-tolerance policy towards any form of misconduct at the workplace.
The bank also highlighted its belief in treating all employees with dignity and respect.The video revealed the manager pressuring his junior employee to sell 75 insurance policies within a single day. Moneycontrol was unable to reach the employee for an immediate response. It is worth noting that last month, the Reserve Bank of India held a meeting with the board of directors of both public sector banks (PSBs) and private banks to address issues concerning governance and ethics.
The finance ministry expressed concern over the increasing instances of mis-selling and instructed the heads of public sector banks to establish robust mechanisms to prevent unethical practices in the sale of insurance policies to customers. The Department of Financial Services received complaints regarding fraudulent and unethical practices employed by banks and life insurance companies to secure policies from their customers. A letter addressed to the chairpersons and managing directors of public sector banks conveyed this directive.