All India Bank Strike on 26th Dec 2018 – AIBOC Letter

All India Bank Strike on 26th Dec 2018 – AIBOC Letter

ALL INDIA BANK OFFICERS’ ASSOCIATION

Circular No.25/VII/2018

December 6, 2018

To:

ALL UNITS / STATE COMMITTEES

Comrades,

RISE AS ONE MAN AGAINST AMALGAMATION OF BANKS

OBSERVE THE ALL INDIA STAY OUT STRIKE

ON 26THE DECEMBER 2018

Right from introduction of new economic policy [1991-93], commencing from Narasimham Committee I and II recommendations, an unimplemented agenda is “consolidation of Banks”. Subsequent to the captioned report, reports after reports suggest the “consolidation exercise” should be expedited. In 2005, Global Trust Bank [GTB] merged with Oriental Bank of Commerce, on account of external pressure from the owners. The Balance sheet of Oriental Bank of Commerce carried the burden of bad loans of the “Global Trust Bank”. In 2008, it was State Bank of Saurashtra [SBS] a bank involved in the Securities Scam along with Standard Chartered Bank willingly taken over by the parent Bank, State Bank of India. The next one in the line was “State Bank of Indore.” In 2010, SBI acquired the stake in State Bank of Indore a best performing bank in all parameters – a “mercy killing exercise”. In April 2017, 5 Associate Banks along with Bharat Mahila Bank were merged with State Bank of India. The net result of the exercise is increase in bad loans in “SBI”, closures of bank branches, 13000 reduction in manpower on account of branch closures and no fresh recuritment.

It is bolt from blue. Bypassing the Parliament, the “alternative mechanism” apparatus had announced the “ amalgamation” of three Banks ie; Vijaya Bank, Dena Bank and Bank of Baroda on 17th September 2018. Immediate protest demonstrations were held by Vijaya Bank Officers’ Union [VBOU] our affiliate throughout the country. Nine constituents unions have also stepped up the protest action in the interim period.

One of the constituent Union has requested not to escalate the programme of agitations upto end of October 2018, hence there was a restraint on all of us. In the recently concluded meeting held at Mumbai on 30th November 2018, it was decided to escalate our collective resistance through an ALL INDIA STAY OUT STRIKE ON 26.12.2018 preceded by the following actions.

We advice that the State Committees and affiliated Units should mobilise the entire workforce in participating in the programme of actions.

The wolf is already at our doorstep. Drive it out with all force at our command, lest the future will not pardon us.

Yours comradely,

/S.NAGARAJAN/

GENERAL SECRETARY

Source : http://aiboa.org