Bank staff protest against mergers

Stir part of nationwide agitation against Centre’s decision

Bank employees protesting in Thiruvananthapuram on Saturday against the Centre’s decision to merge public sector banks.

Bank employees staged a demonstration before the main branch of the State Bank of India here on Saturday as part of a nationwide agitation called by the United Forum of Bank Unions against the Central government decision to merge 10 public sector banks.

Leaders of the All India Bank Employees Association, All India Bank Officers Confederation, and Bank Employees Federation of India addressed the employees.

10-bank merger

The All India State Bank of India Employees Association (AISBIEA) voiced concern over the merger of 10 banks announced by the Union Finance Minister Nirmala Seetharaman on Friday.

A pressnote quoting association general secretary K.S. Krishna said the decision had not taken into consideration the negative outcome of the merger of SBI with five associate banks.

Structural issues

The pressnote said the SBI merger had led to structural and service issues resulting in customer dissatisfaction and attrition, and falling credit disbursement.

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Creating mega banks would not sustain and strengthen mass banking for the common customers, it said.