Treated as fresh recruits,Suvarna staff to start with baseline salaries

“Of the 259 former employees of the SSSB,155 personnel will be absorbed in the IOB branches in the state while the remaining 104 will be placed in the branches across the country,” said chairman and managing director of IOB S A Bhat who was in the city to formally announce the date of operations as well as to interact with the three lakh depositors of the SSSB.

Of the 340 employees of SSSB,41 chose the Voluntary Separation Sheme while 39 were not considered for employment,as they were chargesheeted for misappropriation of funds. Bhat said that these employees will have to start with baseline salaries as they were treated as fresh recruits. The RBI had not given any directions on taking over the branches,he said. “We only take over the assets and liabilities and not the branches. So though we have taken the employees,they will have to start afresh,” he added.

A special training has been planned for the employees who will have to get used to a public sector bank from a co-operative bank. “Two IOB members will be there at every bank and get these employees acclimatised to all the operations and technical training will be imparted,” he said.

After meeting the SSSB depositors who have been waging a battle for the last two years over their deposits,he said he was positive of retaining the three lakh depositors.

“Each of the depositors will be issued a debit card on April 16 and they are given the option to withdraw their money and close the account or continue with the bank,” he said.

The depositors will be able to start a saving account as well as current account and the chequebooks are getting printed,said Bhat.

He said he hopes to wipe off all the liabilities in a year’s time.