Bankers From Across India Gear up to March Against Amalgamation of Banks

On February 4, bank officers from all over India are going to march in Delhi under the banner of All India Bank Officers’ Confederation (AIBOC), in protest against the proposed merger of Vijaya Bank and Dena Bank with their larger peer Bank of Baroda.

The ‘Maha Morcha’ will commence at 11 am on February 3, from Barakhamba Road, Delhi, and will conclude at Jantar Mantar, Parliament Street. The protest congregation will be addressed by several Members of Parliament and leaders of all central trade unions.

Talking to Newsclick, Soumya Dutta, General Secretary of AIBOC, said, “More than 15,000 people will take part in the march. We are expecting a massive turnout of officers representing the entire spectrum of banking Industry from all the states and union territories, along with all stakeholders.”

Also Read: Banking Operations Come to Halt as Unions Protest Against Proposed Bank Merger

The protesters have several other demands, along with rescission of the decision of amalgamation of Vijaya Bank, Dena Bank, and Bank of Baroda, including scrapping of the New Pension Scheme and reinstatement of the Old Pension Scheme, and revision of family pension.

The unions have been protesting against the merger ever since it was announced. Dutta told Newsclick, “AIBOC is of the firm opinion that instead of attempting misadventures like mergers and amalgamations, the government should focus on identifying the reasons for today’s NPA menace in the banks.” The Non-Performing Assets in the country are at an all-time high at Rs 11 lakh crores.

Dutta told Newsclick, “We are also protesting against the continuous attacks on the bankers. They have to deal with massive workloads, and some of them are being forced to commit suicides.”

On February 1, 37-year-old Rakesh Khaderia, who was the branch manager of State Bank of India, Chhata in Mathura district of Uttar Pradesh, committed suicide by hanging himself at his home, unable to bear the workload. There have been similar incidents in the past too.

Also Read: Nine Bank Unions on One-day Strike Against Proposed Bank Merger

The demands of the bankers also include adequate recruitment in public sector banks as recommended by the Standing Committee on Finance, and publication of the list of wilful defaulters. They are also protesting against the unilateral decision taken by the Catholic Syrian Bank to reduce the age of retirement for officers to 58 from 60. AIBOC said in a statement that they are also opposing the rampant pressure to mis-sell third-party products.

The All India Public Sector and Central Government Officers’ Confederation (AIPCOC) has also extended their support to the protest, and will march alongside AIBOC with their own demands, which include allotment of 4G spectrum to BSNL and MTNL, recruitment for all the vacant posts in all central government departments, pay revision in public sector undertakings, and increase in minimum pay and fitment formula. They are also marching to save the public sector from privatisation.

On December 21, 2018, AIBOC had called an all-India strike demanding pay revision, calling off of the merger, full-mandate for scale I to scale VII officers, a defined benefit pension scheme, and introduction of five-day work week. They also demanded updating and revision of pension and family pension.

Raising the same demands, United Forum of Bank Unions (UFBU), an umbrella body of the nine largest bank unions of the country, including AIBOC, had called for a strike on December 26.

Dutta said, “We will not be marching alone. Farmers, ex-servicemen, students and pensioners have extended their support and will join us in large numbers.”