On Saturday, talks between Bank of Baroda and the management of Nainital Bank were unsuccessful. This development comes in the midst of a one-day strike by officers and employees of Nainital Bank. As a result, work has come to a halt in approximately 15 branches located in Lucknow, Sitapur, and Kanpur.
The Nainital Bank Employees Union’s Assistant General Secretary, Nisha Kamath, explained that in 1973, the Bank of Baroda took over the responsibility of running Nainital Bank. Over the years, the Bank of Baroda increased its stake in the bank to 98.57 percent, initiating the merger process in 2016. In December 2022, the board meeting of Bank of Baroda finalized the decision to sell its stake in Nainital Bank, which was met with protests from the Nainital Bank Officers Association.
Attempts were made to resolve the issues through talks with the management of Bank of Baroda. However, these discussions proved unsuccessful, leading the Officer-Employee Union to announce a strike starting on June 12.
