You are here: Home » PTI Stories » National » News
Business Standard

Bank Unions to protest against PSU banks' merger decision Tues

Press Trust of India  |  New Delhi 

A employee unions' federation has called upon unions to hold demonstrations Tuesday to protest against the merger of three --of Baroda, and Dena Bank, a said Monday.

"The sit-in will take place after office hours Tuesday. All our unions are requested to hold protest demonstrations in all state capitals and in all other towns on October 9," C H Venkatachalam, of All said.

The demonstrations are against the government's proposal to merge Bank of Baroda, and Dena Bank, he added.

The demonstration has been called under the aegis of the United Forum of (UFBU).

AIBEA in a statement said that it has learnt that the board of these three banks have approved the agenda and hence they may proceed further.

"The issue as discussed in the UFBU meeting held on September 29, 2018, and it has been decided to call upon all our unions to hold protest demonstrations," it said.

AIBEA said that the issue will be further discussed in the ensuing UFBU meeting to be held on October 12 in and the further course of action will be decided upon.

Separately, the (an industrial federation of Bhartiya Mazdoor Sangh), in a statement said that it will hold demonstrations across the country tomorrow to protest against government's decision to merge the three banks.

It said the union do not agree with the government's stance of creating six-seven large banks by merging existing banks.

Consolidation by way of merger will not solve the problem of non-performing assets in the system, it added.

The boards of three Dena Bank, Bank of Baroda, and have approved the proposed merger.

The amalgamation of these three banks will create country's second-largest PSU lender by assets and branches.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 08 2018. 20:51 IST
RECOMMENDED FOR YOU