New Delhi: Two bank organizations All India Bank Employees Association (AIBEA) and All India Bank Officers Association (AIBOA) have decided to go on strike on 27 March in protest against the bank’s capitulation. The Union Cabinet on Wednesday approved the proposal to merge 10 banks to form four banks.
Earlier, the bank unions withdrew the proposed three-day strike from 11 March. The unions decided to go on strike after negotiations with the Indian Bank Association failed on salary revision.
The Union Cabinet on Wednesday approved the merger of 10 state-run banks to form four ‘big banks’. Finance Minister Nirmala Sitharaman said that the Cabinet has approved the merger proposal and the government is in constant touch with these banks. Sitharaman said, “The process of merger of banks is on and every board of directors has already taken its decision.” Narendra Modi’s government announced the mega merger of banks in August last year.
