Bank unions to strike on Dec 16 protesting merger

Bank unions have called for a countrywide bank strike on December 16 to protest the merger of State Bank of Indore with the State Bank of India.

The All India Banks Employees Association (AIBEA) and All India Bank Officers Association (AIBOA), which are opposing the proposed merger, said they would also hold a protest march to Parliament on December 3 to force the government to reverse the merger.

AIBEA general secretary C H Venkatachalam and AIBOA general secretary R J Sridharan told PTI that the nation-wide bank strike call has been given in support of various demands.

They said the service conditions of the employees working in the merged banks would be at the mercy of the bank management post the merger.

The strike call comes weeks after the central board of State Bank of India announced share swap ratio for acquisition of its smallest associate entity, State Bank of Indore.

The boards of respective banks as well as the government have given permission for the merger of State Bank of Indore with the parent entity.