Kolkata, Dec 16 (IANS) Around 450,000 bank employees of both public sector and private sector banks across the country went on a strike Wednesday, paralysing banking services. They were opposing the merger and consolidation of public sector banks.
“We are striking keeping the merger issue of the State Bank of Indore with the State Bank of India in the front. But in general it is our policy to oppose merger and consolidation of public sector banks,” Rajen Nagar, national president of one of the unions - All India Bank Employees’ Association (AIBEA)- told IANS.

AIBEA and All India Bank Officers’ Association (AIBOA) had said that their members propose to go on strike Dec 16 against the merger and consolidation.

Twenty seven state-run banks and around a similar number of private sector banks are keeping their shutters down, he said.

Nagar added: “These mergers are not in national interest. It does not only amount to job loss, it also hampers banking services for small customers like agri business and SMEs (small and medium enterprises).”

“We want extension of public sector banks, not merger,” he said.