Kakinada: The Kakinada Bank Employees’ Coordination Committee (KBECC) staged a demonstration in front of Andhra Bank zonal office here on Wednesday in protest against merger of some public sector banks in the country in response to a call by the All India Bank Employees’ Association (AIBEA) and All India Bank Officers’ Association (AIBOA).
Addressing the gathering, KBECC president K Venkataramana and secretary K Adinarayana Murthy said the proposal to merge public sector banks at a time when the Indian banking system won global acclaim for its strength and performance defied logic.
The Central Government should instead expand banking services to the lowest level and insulate the economy from recession.
Members of the All India Bank Employees’ Association and All India Bank Officers’ Association shouted slogans against the bank’s merger, proposed amendments to the Banking Companies Regulation Act and alleged violations of Industrial Disputes Act. KBECC vice-president R.S. Prasad, assistant secretary G Panduranga Rao and others participated.