Karnataka

AIBOC meet in Delhi to discuss bank mergers

With the government moving to merge more public sector banks, the All India Bank Officers’ Confederation (AIBOC), which has opposed it, will meet in New Delhi on September 5 to decide its future course of action.

Later, the United Forum of Bank Unions (UFBU) will meet in the national capital on September 11 to discuss the issue, said Satish Shetty, vice-president of AIBOC and general secretary of the Corporation Bank Officers Organisation, Mangaluru.

Mr. Shetty said that the AIBOC has always maintained that mergers were designed to reduce the number of public sector banks, as a prelude to privatisation of the same at a later point in time. “This is the larger agenda aimed at nullifying the nationalisation of banks done during 1969 and 1980 in the country’s economic interests,” he said.

He also said that the experience from earlier mergers had not been very encouraging on the business front, customer service, NPA management, and workforce management.

Mr. Shetty said that the AIBOC’s demand is that the government publish a white paper on the operational fronts of the previous two mergers. Nationalised banks should be provided with enough capital and the government should take the recognised unions into confidence before announcing or proposing such moves, he said.

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Printable version | Mar 29, 2020 2:40:39 PM | https://www.thehindu.com/news/national/karnataka/aiboc-meet-in-delhi-to-discuss-bank-mergers/article29317198.ece

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