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Banking service paralyzed as Nine bank unions call for one-day strike
TIWN Dec 26, 2018
Banking service paralyzed as Nine bank unions call for one-day strike
PHOTO : Bankers observed 1-day strike in Tripura as a part of nationwide strike. TIWN Pic Dec 26

AGARTALA, Dec 26 (TIWN): Close to 1 million employees of various banks, including private lenders, have called for a one-day strike on Wednesday to protest against the proposed amalgamation of Banks.

The strike call comes on the heels of an officers union of state-run banks observing a day-long strike last Friday on similar grounds along with demand for immediate settlement of their wage negotiations. 

In September, government had announced merger of state -owned Vijaya Bank and Dena Bank, both under the prompt corrective action (PCA) framework of the RBI, with larger peer Bank of Baroda, creating the third largest lender. 

"This amalgamation is not in the interest of banks or bank customers. It is rather detrimental to both," the United Forum of Bank Unions (UFBU) said. 

The UFBU is an umbrella organisation of nine unions, including the All India Bank Officers Confederation, the All- India Bank Employees Association and the National Organisation of Bank Workers, among others. 

The unions claim that government wants banks to grow in size by this amalgamation but even if all public sector banks are bundled into one, the merged entity cannot find a place among the top 10 globally. 

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