Relieving letter is issued post all settlements by the company. Companies/Banks are known to sit on relieving letter even if all settlements by employee are completed.
Candidates clamor to be employed with public sector banks and you have a respectable designation. You may find ways and means to correct the conduct, behavior, approach of superior officer. You can try and speak out the matter and resolve it. You seem to be under probation and need good appraisal by your superior official. If required you may try and speak to higher authority/HR/personnel/CGM/RM etc.
If you feel that it is appropriate and you can handle you may submit a gentle representation in writing to superiors, bringing out the facts. You shall need record to support you at any point of time. Superiors can access CCTV footage and make out what is happening. You can seek transfer. Employees, in today's environment need to acquire and apply exceptional rapport building, persuasion, persistence skills. Your issues posted by you, are such which can be handled and resolved successfully by you and may be with little counseling to both the parties. Choice is yours.
What is the guarantee that your next employer and reporting authority shall be better, or a thorough gentleman? Your next reporting authority/manager in this bank tomorrow may be thorough gentleman/lady.
Scolding, insult is not permissible and is absolutely intolerable. Any employer who resorts to rude behavior, unprofessional tactics at workplace is unworthy of being employed with.
Your union, peers, colleagues may/may not lend you support and witness you need. You may help yourself and use your resources and record (audio/visual) such episodes. Show the bond to a competent and experienced service lawyer and understand nuances of the bond and that under what circumstances who to pay what?
Be careful about your job and do not leave any room for any vindictive and zealous official to charge and trap you on any count. Maintain a record that you have been completing your daily work in time and do not need extended hours.
If you have record on your side and if employer is unworthy of being employed with, you may be able to contest the bond.