Employee unions maintain dharna against reforms, consolidation in the PSB

New Delhi, December 10 () Employee unions of public sector banks held a one-day Tuesday dharna here in opposition to bank mergers and the abnormal increase in service charges.

The nine banking unions in the framework of the United Forum of Banking Unions (UFBU), including the Confederation of Officials of All India Bank (AIBOC), the Association of Employees of All India Bank (AIBEA) and the National Organization of Bank Workers participated in the dharna of all of India.

At a time when the country's economy faces a severe slowdown and banks have an important role to play in boosting the economy, which should be the government's priority, AIBOC said in a statement.

Unfortunately, the government is targeting banks for wholesale mergers, closing large-scale branches, diverting attention from the recovery of bad loans, reducing interest on deposits, raising more service charges and criminal charges in the banking public ordinary, among others, he said.

Mergers are totally unjustified and is not the solution to the problems of our economy or the challenges facing banks, he said.

In August, the government announced its plan to merge 10 public sector banks (PSBs) into four to create fewer stronger, global-size banks.

He had announced four new sets of PSB mergers: Punjab National Bank assuming control of the Oriental Bank of Commerce and United Bank of India; Syndicate Bank merging with Canara Bank; Union Bank of India will merge with Andhra Bank and Corporation Bank; and Indian Bank will merge with Allahabad Bank.

The attention of the banks will shift from the recovery of bad loans and the service to the common people to complications related to the merger. Earlier, on October 22, bank employees affiliated with AIBEA held a one-day national strike to protest against the merger of state banks. DP HRS