Merger of Banks-UFBU to observe one day strike
KS Diwan/ royalpatiala.in/ Patiala
On the call given by U (UFBU), bank Workmen and Officers are holding massive demonstrations opposing unwarranted Merger of 3 Banks – Bank of Baroda, Dena Bank and Vijaya Bank. As per decision, Punjab Bank Employees Fedn. Patiala Unit today held a massive demonstration in front of Oriental Bank of Commerce, Chhoti Baradari Patiala.
Com. Yadvinder Gupta, Secretary, PBEF Patiala & President State Bank of India Employees Union (Chandigarh Circle) while addressing the gathering said Right from the day the Government of India announced their decision on 17thSeptember, 2018 to amalgamate Bank of Baroda, Dena Bank and Vijaya Bank, we have been holding protest demonstrations opposing this unwarranted move. In a country like India, where the Government talking of financial inclusion the need of the hour is expansion of banking sector and not amalgamation and consolidation. In the case of Bank of Baroda, Dena Bank and Vijaya Bank, the only major problem faced by these Banks is their high level of bad loans. Merger or amalgamation is no solution to recover these bad loans. In fact, under the merged entity, the recovery is bound to go haywire. Unfortunately, the Government is bent on implementing their policy of privatization and consolidation of Banks. Despite our strong protests, these three Banks are appearing to go ahead with the merger. Hence in order to register our protest and to draw public and political attention, UFBU has decided to give the call for observing one day strike on 26th December, 2018.
Com.Sanjiv Prashar, State Secretary, Canara Bank Employees Union while addressing the gathering told that Banking density in India is one of the lowest in the world. There is so much of space for banks to expand and reach all sections of the people. Hence merger of Banks or amalgamation of banks with a view to consolidate the Banking sector is unnecessary and illogical. Even the mega merger of 6 Banks with State Bank of India undertaken last year has not resulted in any benefit to SBI. On the other hand, SBI is having compulsions of branch closures and restructuring of their operations.
Com.Sukhbir Singh, Com.Sanmeet Singh, Com.Manga Ram, Organising Secretary, Punjab Bank Employees Fedn. Com.Pardeep Sayal, Com.Harjit Singh, Com.Balvir Sharma and other leaders of the Federation also addressed the gathering.
