Bank of Rajasthan employees protest merger with ICICI

PTI | May 20, 2010



Employees of troubled-lender, Bank of Rajasthan today came out against the proposed move to merge the bank with ICICI Bank, saying it would destroy the identity of one of the oldest private sector banks in the country.

The merger, if it materialises, is also likely to hamper the interests of the employees of BoR, bank employees' body, All India Bank Officers' Association, whose members form a majority of BoR's employees, said on Wednesday.

Various employee-unions in BoR, which include All India Bank Employees Association and National Organisation of Bank Workers (NOBW) organised demonstrations in front of Head office and regional offices of Bank of Rajasthan to mark their protest.

The unions also said they may even choose to strike the work if the banks go ahead with the merger.

"We strongly oppose the merger move as it is against the interest of the employees of BoR...the joint action committee will meet and decide further course of action including strike," AIBOC General Secretary, G D Nadaf, said.

The unions has also written to Finance Minister, Pranab Mukherjee and Reserve Bank of India demanding their intervention against the merger, Nadaf said.

Yesterday, the Boards of Bank of Rajasthan and ICICI Bank met and in-principle approved a merger proposal through a share swap deal.
 

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