All India Bank Employees Association opposes merger of banks

AIBEA does not approve of the merger of Bank of Baroda, Dena Bank and Vijaya Bank; Calls nationwide strike on December 26.

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December 26 will see bank employees across the country going on a strike in protest against the merger of Bank of Baroda, Dena Bank and Vijaya Bank. According to the All India Bank Employees Association (AIBEA), merging of banks is unjustified and will not do any good to the Indian economy or its citizens. It will also impact the employees’ lives, jobs in the banking sector and the employees’ sense of security.

Approximately 10 lakh bank employees will participate in the strike, opposing the merger of banks at a time when their services are required in the rural areas.

As per AIBEA, the merger of six banks under the State Bank of India last year has not really resulted in any concrete benefits nor has the Bank grown in any way.

With a non-performing asset (NPA) ratio of 11.04 per cent and business of Rs 1.72 lakh crore , Dena Bank is the least strong of the three entities to be merged. Bank of Baroda has an NPA of 5.4 per cent and business of Rs 10.2 lakh crore, while Vijaya bank has an NPA of 4.10 per cent and business worth Rs two lakh crore.

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