About 10 lakh employees of various government banks, some private and foreign banks are on strike today against Vijaya Bank and Dena Bank’s proposed merger with Bank of Baroda. Banking services are affected today (Wednesday) because of the bank employees’ one-day strike. This is the second bank strike in less than a week. Earlier, on December 21, the bank officials had called for a strike.
Banking services like depositing and withdrawing money, check clearance and demand draft are being effected by nationwide strike of bank employees. In September, the government had announced the merger of public sector Vijaya Bank and Dena Bank in Bank of Baroda. This will bring the country’s third largest bank into existence. The union is claiming that the merger will not be in the interest of the banks or their customers, but both will be harmful.
The United Forum of Bank Unions (UFBU) has called for a strike. UFBU said that the government wants to increase the size of the banks through merger, but if all the public sector banks in the country are merged together, even the joint entity formed after the merger will not get place in the top 10 banks of the world. UFBU is the organization of nine bank unions. It includes All India Bank Officers Confederations, the All India Bank Employees Association and other organizations including the National Organization of Bank Workers.