- Wednesday 16 Oct 2019
Bank Merger: Bank officers associations to meet in Delhi on Sept 5
Team Udayavani, Sep 3, 2019, 3:53 PM IST
Hyderabad: Opposing the merger of banks, officers associations of various banks will meet in the national capital on September 5 to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday.
Finance Minister Nirmala Sitharaman last week announced the merger of Oriental Bank of Commerce and United Bank with Punjab National Bank, Syndicate Bank with Canara Bank, while Andhra Bank and Corporation Bank will merge with Union Bank of India.
Besides, Indian Bank will be merged with Allahabad Bank, making it the seventh-largest state-owned bank.
Andhra Bank is the second city-based bank which will lose its geographical identity.
Earlier, State Bank of Hyderabad, an associate bank of State Bank of India was merged with its parent organisation in April 2017.
“We are opposing the merger of banks. We will organise various protest programs against the merger. On September 5, the Executive Committee of the All India Bank Officers Confederation (AIBOA) will meet in Delhi. All the general secretaries of all banks’ officers associations will meet there and finalize the action program to oppose the merger,” Satyanarayana told PTI.
The city-based Andhra Bank was founded by eminent freedom fighter Dr. Bhogaraju Pattabhi Sitaramayya.
The Bank was registered on November 1923 and commenced business in the same month with a paid-up capital of Rs one lakh and an authorised capital of Rs 10 lakh.
Currently, the public sector lender has 2,900 branches across the country with 21,000 employees, including 11,000 officers.
“The bank was not started for commercial gains, but for social purpose. It has completed 96 years,”Satyanarayana said.
Following the officers’ bodies meeting, the United Forum of Bank Unions (UFBU), the umbrella body of nine banking sector trade unions, will meet on September 11 to announce their plan of action against the merger, he said.
New Delhi: Shares of Lakshmi Vilas Bank and Syndicate Bank fell by up to 5 per cent on Tuesday after the RBI imposed a monetary penalty on them for vi....
New Delhi: The Union Cabinet may by next month consider a proposal to hive off state-run gas utility GAIL (India) Ltd's pipeline business into a separ....
Mumbai: A Mumbai court on Monday extended till October 16 the police custody of two top officials of HDIL and Punjab and Maharashtra Cooperative (PMC)....
New Delhi: Reliance Jio on Monday said that the Government needs to set a clear roadmap for timely availability of spectrum and asserted that prices o....
New Delhi: Shares of Indian Railway Catering and Tourism Corporation (IRCTC) zoomed over 101 per cent in debut trade on Monday against its issue price....
New Delhi/Bengaluru: Congress leader D K Shivakumar, arrested in a money laundering case, on Tuesday told the Delhi High Court that the matter was a r....
Yavatmal/Wardha: Congress leader Rahul Gandhi on Tuesday called Prime Minister Narendra Modi a "loudspeaker" of certain industrialists, and said his ....
Bengaluru: The Hindustan Aeronautics Limited management on Tuesday urged its striking employees to accept the "fair offer" made by it but the latter s....
New Delhi: Star Indian sprinter Dutee Chand on Tuesday said she is determined to further better her 100m national record and achieve the qualificatio....
Charkhi Dadri: As he pitched for wrestler Babita Phogat, the BJP candidate from the Dadri assembly seat, Prime Minister Narendra Modi on Tuesday said ....