Unions threaten nationwide strike on Dec 26 to protest merger of banks
Team Udayavani, Dec 1, 2018, 4:12 PM IST
New Delhi: Bank unions Saturday called for a nationwide strike on December 26 to protest the proposed merger of Bank of Baroda, Dena Bank and Vijaya Bank.
The government had in September approved the merger of the three public sector lenders.
The strike will be organised by the United Forum of Bank Unions (UFBU), an umbrella body of nine employee and officer unions.
The government and the concerned banks were moving ahead with their decision for amalgamation and hence it was decided to give the call for strike, All India Bank Employees Association General Secretary C H Venkatachalam said.
All unions under UFBU will participate in this strike call, said Ashwani Rana, vice president of the National Organization of Bank Workers.
Following the government nod, the respective boards of these banks gave their approval for the amalgamation.
The merged entity will be third-largest lender of the country after State Bank of India (SBI) and HDFC Bank.
As at June-end, the total business size of the three entities together was Rs 14.82 lakh crore.
Of the three banks, Dena Bank is the weakest, with non-performing asset (NPA) ratio of 11.04 per cent and business of Rs 1.72 lakh crore, as compared to 5.4 per cent NPA and Rs 10.2 lakh crore business of Bank of Baroda and 4.10 per cent NPA and Rs 2 lakh crore worth business of Vijaya Bank.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Epigamia founder Rohan Mirchandani dies of cardiac arrest at age 42
Lohia Auto launches EV brand ‘Youdha’, aims to sell 3 lakh vehicles by 2027
“FM ji FM ji, itna tax main kaise bharun”, asks investor Vijay Kedia in viral post
RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm
Front-running case: Sebi bans 9 entities from market , impounds illegal gains of over Rs 21 crore
MUST WATCH
Latest Additions
3-year-old girl falls into borewell in Rajasthan
Centre scraps ‘no-detention policy’ for classes 5 and 8 students
Software engineer in Bengaluru loses Rs 11.8 crore to ‘digital arrest’ scam
Apologise for always insulting Ambedkar instead of doing drama: BJP to Cong on campaign against Shah
Farmer who threatened to commit suicide asked to cough up Rs 9.9 lakh by police for security arrangements
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.