Bank's Union has Threaten to Go On Strike Against BOB, Vijaya & Dena Bank Mergers

"NAMO Birthday" return Gift to Bankers

All India Bank Employees Association (AIBEA) has threaten to go on strike against the recent announcement of merger of Bank of Baroda, Vijaya bank and Dena Bank.

Bank's Unions are not supporting the merger of Banks. AIBEA General Secretary  C H Venkatachalam has released a press note in this regard.

Friends,

Showing its real intention and true colours, this government has finally started the process of mergers of PSBs by announcing the merger of Dena Bank and Vijaya Bank with Bank of Baroda. You must be remembering that only few months ago finance minister has given statement in parliament that there is no plans of merger of Banks. Today suddenly they have announced it. This proves once again that this government has mastery in projecting false picture. It is also worth mentioning that these banks have not asked for merger. Boards of these bank's have been instructed by government to approve the plan of merger.

They have given statement that there was encouraging result of merger of SBI and it's associates. We have clearly seen that SBI has shown huge losses after merger. Whether this loss was encouraging for government??????

Merger will be having following impact:

1. Many branches of these bank's will be shut down
2. Staff will be transferred en-mass
3. Reduction in promotion/vacancies in new bank
4. Process will take years to settle the new entity and smoothen the functioning which will result in adverse impact on customer service too. This will ultimately result in good business being taken away by private banks.
5. Focus of staff will be shifted on settling down. Hence, recovery process will be impacted badly. Result, widening losses
6. Increasing loss will enable them to announce the bankers as non performers and the will dilute the stake to private entities
7. Employees of Dena Bank and Vijaya Bank will not be treated at par with Bank of Baroda as can be seen in SBI
8. Outsourcing will increase.

This act of government is part of its plan and step forward to hand over the public resources to private corporates.
And of course, our jobs are also at stake.
Just like this, suddenly they will announce another merger and go on till they achieve their aim of shifting the wealth into private hands.
This government plans to reduce income inequality not by increasing the income of poor but by reducing the income of middle class.
Situation of Do-or-Die is on our heads. Our salary, job security, public resources everything is at stake.
Be ready. Gear up to fight till end.
Start creating awareness among public about the ill effects of merger and dilution of stake immediately. Public support is needed for safe guarding public interest as well as your future.
Understand the seriousness.
Act or perish.
MR S. K. MISHRA, ALLAH AD BANK