AIBOC members demonstrate to protest merger of 3 banks

More than 15,000 members of the All India Bank Officers Confederation (AIBOC) staged a demonstration here on Monday opposing the proposed merger of Vijaya Bank, Dena Bank and Bank of Baroda.

They also demanded scrapping of New Pension Scheme (NPS) and restoration of the Defined Pension Scheme.

AIBOC General Secretary Soumya Datta said the employees are against the decision of Catholic Syrian Bank to reduce retirement age from 60 years to 58. The confederation also opposes the merger of regional rural banks.

"The merger plan of regional rural banks is condemnable with no perceptible gains to the economy. It will definitely pose hurdles and difficulties to ordinary farmers and artisans," he said.

Bank employees want a list of willful corporate defaulters to be published. Datta said the government should take a decision on a decent wage revision in 11th Bipartite Settlement based on a charter of demand submitted by four officers organisations based on minimum wages principle.

The AIBOC represents over 3.2 lakh bank employees.

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