
BTW, I have applied for PR and its still pending for the last 5 months. Although it looks like a desperate attempt to remain here at any cost, I had to do what it takes for the best interests of my family.
There has been quite a lot of uncertainty in our department and until now I always thought it wont be me. But today the global head of our department came and addressed us and gave a very sorry picture of outlook, although immediately no one is affected, but medium term i.e. 6 months to 1 year doesn't look too good. Often times its not the message but the way the message is communicated that makes the effect. He was very straightforward and I really appreciate that yet this one did get me quite depressed and hence the impulsive decision to apply for PEP.
The other option I could have taken is simply start looking for jobs outside and jump from the sinking ship. But then all banks out there are in troubled waters, so I am taking the "known devil better than the unknown angel" approach here.
Anyways, I am not sure whether the changing rules means that I will be rejected, but it allowed me to apply so I applied. I will update the outcome, which is expected in the next 2 weeks.
Cheers!