ICICI Bank MD & CEO summoned over illegal termination of Employees – Finance & Banking Blogs

ICICI Bank, one of the leading private sector banks in India, finds itself embroiled in a significant controversy. Recent reports suggest that a number of employees have been unjustly terminated by the bank.

In response, these employees have taken legal action against ICICI Bank, demanding a thorough investigation into the matter.

Adding to the bank’s woes, the Labour Commissioner has summoned the Managing Director and CEO of ICICI Bank, Mr. Sandeep Bakshi, to a meeting scheduled for June 28, 2024.

The Labour Commissioner’s office has received numerous emails alleging that ICICI Bank has engaged in the illegal termination of employees without providing adequate prior notice. Furthermore, it has been claimed that the bank continues to disregard established processes and policies in this regard.

The meeting between the Labour Commissioner and ICICI Bank’s leadership promises to shed light on the allegations and determine the appropriate course of action. As the controversy unfolds, all eyes are on ICICI Bank, as the outcome of this investigation could have far-reaching implications for the bank’s reputation and standing within the industry.

Employees have turned to social media platforms to voice their discontent regarding the bank’s purported unethical conduct. According to reports, several employees, including women, have been terminated without adequate notice or valid justifications.

Employees who have shared email screenshots claim that the bank has heartlessly forced them out of their positions, ignoring their pleas and grievances. Additionally, there are allegations that the bank’s Human Resources department is exerting significant pressure on employees, coercing them to resign against their will.

This sudden termination has caused significant hardships for the employees, including financial difficulties, inability to meet basic needs, paying off loans, handling medical emergencies, and covering children’s school fees and care for elderly parents. Despite their efforts to contact HR Management for a proper response, none of their emails or calls have been answered.

Tragically, one employee from Uttar Pradesh has committed suicide. Employees report experiencing exploitation, humiliation, and an unsuitable work environment due to biased senior staff who consistently demotivate and belittle junior employees.

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