N Shankar, the general secretary of the All India Union Bank Employees Association, has expressed concerns about the merger of public sector banks, suggesting that it may pave the way for privatization and potential acquisition by foreign entities. He criticized the lack of transparency in Parliament regarding the motives behind these mergers, attributing them to clear political agendas. Despite active protests from labor unions against further mergers, the central government seems determined to pursue its merger policies, especially in the lead-up to the Lok Sabha elections.
Speaking at the inauguration of the 37th state conference of the Union Bank of India Employees Union in Kochi, Shankar highlighted the challenges faced by bank branches nationwide, particularly the management’s reluctance to appoint sub-staff/part-time sweepers despite government directives. The conference also addressed the escalating issue of non-performing assets, which has reached ₹4.28 lakh crore, condemning the central government’s inaction.
Amid these challenges, the conference celebrated Union Bank of India’s achievement in surpassing its business target of ₹19 trillion and called for collective employee cooperation to achieve the ambitious goal of ₹21.5 trillion business by the end of the first quarter in March 2024.
The conference’s delegate session was inaugurated by B Ramprakash, general secretary of the All Kerala Bank Employees Federation, and presided over by C Ananthakrishnan, President of the Union Bank Employees Union (Kerala).
The concerns raised by N Shankar and the discussions at the conference shed light on the complex and evolving landscape of public sector banks in India, reflecting the ongoing debates and challenges surrounding their mergers and the broader implications for the banking sector.
