Country Wide Protest Against Merger of 3 Nationalised Banks

GUWAHATI: The Assam State Unit of the All India Bank Officers’ Confederation ( AIBOC) , an umbrella organization, spearheading the Bank Officers’ movement and is active all across the banking sector unequivocally condemns the govt’s decision of effecting merger of three Nationalised Banks namely, Dena Bank, Vijaya Bank and Bank of Baroda and is all set to raise a countrywide protest to defeat the move which as it understands is an anti people and anti economy move taken in haste and not supported by adequate analysis and research work.

The announcement has come at a juncture when the banking sector as a whole is in tremendous crisis; on the one hand, the banking sector is confronting the menace of ever increasing NPA and on the other, the resultant provisioning requirement is encroaching upon the profit of the bank. In an era when the policy makers at the apex are finding it hard to counter the menace of shrinking businesses and rising NPAs, the micro level management is finding it extremely difficult to manage the customer dissatisfaction and shortages of manpower causing shifting of businesses to private competitors, a press release stated.