Hi,
I am an employee in a prominent investment bank in Mumbai and rather recently the company has begun insisting on us to provide them with the statement of DEMAT transactions and other personal investment details in our personal account and in the accounts of our immediate family members & relatives.
They are doing this activity under the garb of some "compliance and regulatory requirements" in order to supposedly prevent fraudulent and insider trading.
I have personally been classified as a "non-sensitive" employee who doesn't have access to such information, yet the company is insistent on me furnishing all the details of my personal dealings with them.
Now, I don't have a problem with this per se as I have nothing to hide, however I have a problem with this on a matter of principle as the company is neither a statutory nor government body to insist on the employees furnishing such information with it.
My question to the legal eagles here is whether the company can insist that the employees provide such financially confidential information to it and whether I can refuse to provide the same?
