10 lakh bank employees are going on a strike on December 26 to protest against the merger of Bank of Baroda-Dena Bank-Vijaya Bank.
This protest is called days after officers union of public sector banks observed a day-long strike on last Saturday demanding the immediate settlement of wage negotiations.
The amalgamation of Public sector lenders Vijaya Bank and Dena Bank with Bank of Baroda was initiated under the prompt corrective action (PCA) framework of the Reserve Bank of India, was announced in September this year. This amalgamation would form India’s third-largest lender.
“This amalgamation is not in the interest of banks or bank customers. It is rather detrimental to both,” said the United Forum of Bank Unions (UFBU) in its official communiqué.
The United Forum of Bank Unions (UFBU) umbrella organisation of nine unions, comprising o the All-India Bank Officers Confederation, the All- India Bank Employees Association and the National Organisation of Bank Workers, among others.
The unions claim that the amalgamation will result in the closure of several branches and this will create problems for employees as banks are already handing various government schemes and the amalgamation will create more pressure on banks.