The All India Bank Officers’ Confederation (AIBOC) has strongly opposed the Union Cabinet’s decision to amalgamate Vijaya Bank and Dena Bank with Bank of Baroda.
The Finance Ministry notification has made it amply clear that the amalgamation would obliterate Vijaya Bank and the Dena Bank, which were in existence for over 87 and 80 years, respectively, said a an AIBOC release. Merging the banks brings in more trouble as the organisation becomes too huge to pay attention to ailments they have. The assurance of protecting the pay and allowances of officers and employees in the amalgamation scheme rings hollow, pointed out the release. The AIBOC called upon the bank customers and all sections of the people to protest against this “unilateral” and “retrograde” decision by the Union Cabinet.