Does tcs has no policy on promotions and compensations

No policy. Only one should have a good strong n flexible tongue to lick manager. Promotion is not an issue then.

HR's here are for namesake any query you ask and the first reply is to check with your concerned HRBP or either supervisor.

On rejecting band I was told by HR that company is not in a good state and even if manager agrees to change band and there are no funds on that account then nothing is going to change.

I wonder if all that 12000 crore profit shown in market is only from deductions from our salaries

Dry Promotion is in trending now. Looks like TCS is also planning the same hence not announcing the promotion cycle.

The only strict policy is to provide hike under 3-4 % in the name of job security.Thats the trick.

Nope. All rules are made up or changed on the go, to suit the convenience of the company.

When is your promotion initiated? Which grade do you belong to ?

They don't have any exact policy about promotion.