Bank employees to go on strike on August 6, 7

Addressing a press meet here on Tuesday, he said that despite better performance in business growth and profits by all banks, the bank employees/officers’ salary revision is due from November 1, 2007 which is kept in cold storage by the Indian Bank Association and government, although the bank employees deserve a better package. Unfortunately, the IBA at the instance of the government has reduced its earlier officer on salary revision from 17.5 per cent to 15 per cent. IBA and government has suspended the dialogue with the representatives.

He said “UFBU is also opposing the proposed merger of State Bank of Indore with State Bank of India. In fact, we had asked the Finance Minister to nationalise old generation private sector banks to cater to the needs of common man. We are opposed to the move to merge banks. With the financial inclusion policy, we should open more branches in every nook and corner of the village. However, government is asking for merger of banks to compete in the international level. Banks must be public sector. Foreign direct investment is not necessary for banking sector,” he added.

Corp Bank to shift HQ?

All India Bank Officers’ Confederation General Secretary G D Nadaf alleged that Corporation Bank authorities are planning to shift its headquarters from Mangalore to Mumbai. “We will oppose the move to shift bank’s headquarters,” he said.

T R Bhat said: “When we asked the management, the reply was that there was no such proposal as on date. In fact, a circular has been sent to all the Corporation Bank branches in this regard.”