Udupi: Bank employee unions such as the United Forum of Corporation Bank Unions, United Forum of Bank Unions, Corporation Bank Officer’s Organization, Corporation Bank Officer’s Union, and Corporation Bank Employees Union staged a protest against the Central Government’s decision to merge 10 Public-Sector Banks (PSBs) into four entities at the founder’s branch of the Corporation Bank, Udupi on Monday, September 16.
Addressing the protesters, union leaders alleged that the merger of the PSBs would mean the closure of 6 banks and would spell disaster for the growth of the country’s economy.
The BJP government at the Centre had unveiled a mega-plan to merge ten PSBs into four in order to create fewer and stronger global-sized bankers as it looks to revive economic growth.
Union leaders said, “The government may call this a merger, but banks which have been built up over the years will disappear from banking scenario.”
“We are opposing the merger of banks and we will organize various protests against the merger or amalgamation of banks,” they added.
The leaders further said that it was a myth that customer service would remain the same or improve after the merger.
Iterating the Corporation Bank’s rich history, union leaders said, “Corporation Bank was developed in Sri Krishna land which was established by late donor Haji Abdulla Saheb on March 12, 1906. Since then the Corporation Bank has maintained a record of good governance. That such a bank is going to close is a disaster for the people of Udupi.”
“While maintaining there was no immediate fear of retrenchment since the banks were already facing a crippling staff-shortage, we are in a situation when bank branches are closing down and yet it is not like the weak banks have been merged with strong banks. What are the criteria for compatibility?” they asked.
In a warning to the government to revoke its decision, union leaders said, “The most important thing is you need economic stability. Merging of banks doesn’t have logic behind it. We see the bank from within, this decision will not help.”
Udupi District Bank Employees and Officers Association leaders Ram Mohan, Ashok Kotian, Hemanth U Kanth spoke during the protest.
Corporation Bank Udupi Zone Secretary Nagesh Nayak delivered the vote of thanks.
Udupi District Bank Unions Convener Herald D’Souza, Manoj Kumar, Ramesh, Vanshikrishna, Jayan Malpe and others were present.
A large number of Corporation Bank employees also attended the protest.
