New Delhi: Government banks are preparing to strike once again in the month of March. The two main unions of the banking sector All India Bank Employees Association (AIBEA) and All India Bank Officers Association (AIBOA) have announced a strike on 27 March to protest against the banks' capitals. Recently, the Union Cabinet has approved the proposal of merging 10 banks to form four banks, which are opposed by the bankers.
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Earlier, the bank unions had withdrawn the three-day strike from March 11 and now the date of the strike has been set as 27 March. AIBEA Secretary-General C. H. Venkatachalam has said that banks themselves face problems due to a large number of bad loans. Public sector banks earned a total net profit of Rs 1,50,000 crore in the year ended 31 March 2019, but the total provision for bad loans etc. was Rs 216,000.
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In the end, banks lost Rs 66,000 crore. He has further told that the unions have planned protests against this merger at different places in this month along with the strike on 27 March. Another official related to the case said that after the merger of SBI and the merger of Bank of Baroda last year, the government has announced merger of 10 banks.
