The Hindu Business Line : Catching up with a CMD on the highway

On a day when IDBI Ltd became a bigger bank, after absorbing United Western Bank, where was the Chairman and Managing Director of IDBI, Mr V.P. Shetty? In the heart of Maharashtra. "To give confidence to people and employees." That's how he explains over the phone, travelling from Satara to Pune, when Business Line connected with him in the afternoon.

Satara, for starters, is a historical place in Western Maharashtra, with hill stations such as Mahabaleshwar and Panchgani around, and linked to Pune, Sangli, Miraj and Kolhapur.

"Satara was the capital of Marathas after Sambhaji Maharaj's death," informs www.aroundpune.com. More significantly, UWB, the bank that has merged into IDBI, had its headquarters in Satara.

"We have put a person in Satara, a Chief General Manager, to be in charge of the operations of erstwhile UWB, and liase with the headquarters," says Mr Shetty. What was his programme in Satara? "I visited four branches and met quite a few customers," he explains.

"I addressed the employees' union and assured them of security and safety," informs Mr Shetty. UWB's pay levels are, as such, equal to those of public sector banks, he observes. "IDBI's pay structure is different. We have three years' time to protect the pay structure."

Smooth going

How was the ground feel in Satara at the counters? "Everything was smooth. There was no rush at the counters. In fact, withdrawals were less than normal." Do customers feel a vacuum, after having lost an old bank that was in their midst? No, says Mr Shetty.

"Customers continue to transact with the same staff. UWB's employees have been renowned for their good rapport with customers." Old customers of the failed iconic bank may be nostalgic, concedes Mr Shetty, but assures that things "would be comfortable".

Travelling along with the Chairman is Mr Niranjan J. Mathure, Managing Director of the erstwhile UWB. And he reports telegraphically, "No panic. No problem. All ATMs open." There's more: "People have accepted us as IDBI. Now that we are going into a strong bank."

Perhaps the car turns a bend and the telecom signal snaps. Catching up with the IDBI's helmsman, after repeated calls, one learns that he is engaged in homework to take the merged entity to a higher level, and that his people are working on the job of image building.

Let's think big

The signs are already visible. `Aao Sochein Bada!' or `come, let's think big' greets one on www.uwbankindia.com, the site of a bygone bank. There are gaps, though, in the `about us', such as `strong fundamentals' showing as `under construction'.

And `origin' explained simply as `Late Shri W.G. alias Annasaheb Chirmule', with the founder's photo. But the `Chairman's message' datelined Mumbai, October 3, is upbeat.

In safe hands

"Let me assure you that there is no need for you to worry; your business is in safe hands," says a smiling Mr Shetty on the Web page. "With us, you will build a secure Financial Future. The distinctive culture of UWB based on Apulki, meaning Affinity, will be maintained... "

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