Speakers at a day-long convention of the All-India ING Vysya Bank Officers’ Association, as also those of the Employees’ Association, sought to highlight their demand that the proposed merger of the Bank with Kotak Mahindra Bank be taken forward only after they got a tri-partite agreement in writing on all assurances given to them.
Among those who addressed a gathering here on Thursday, were General Secretaries K.J. Ramakrishna Reddy of the Officers Association and S.A. Sridhar of the Employees Association. The employees’ strength is an estimated 10,000-plus, including about 3,000 personnel on the bank’s rolls and the rest on contract.
Mr. Ramakrishna Reddy and Mr. Sridhar said all they wanted was the agreement to be put in writing – whatever assurances were given to employees in the past and future settlements with the Indian Banks Association (IBA). Bi-partite negotiations with the IBA and the concerned banks happen once in four years and the next one is due in 2017, they said.
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Mr. Ramakrishna Reddy said that once the merger process was over, it would mean that Kotak Mahindra would have a share-holding of about Rs. 16,500 crore. The employees had already represented their concerns to the management but they are yet to be given convincing replies. Left with no alternative, they had decided to take to the agitation path, he said, adding that the first strike would probably take place in the first or second week of January.
Mr. Sridhar said the points they wanted in writing included jobs and job security of all employees/officers including those on contract, honouring of service conditions and settlements/understanding with the associations and a commitment to honour all bi-partite demands at the industry-level and their implementation.