KOCHI: The amalgamation of public sector banks was driven by clear political agendas, alleged N Shankar, general secretary, All India Union Bank Employees Association.
He was inaugurating the 37th state conference of Union Bank of India Employees Union at the town hall. This is the union’s first state conference post the merger of Union Bank, Andhra Bank and Corporation Bank.
“The merger signals the first step towards privatisation, potentially leading to their acquisition by foreign entities,” Shankar said, criticising the lack of clarity in Parliament on the rationale behind the mergers. While labour unions protest against further amalgamation, the Centre appears inclined to pursue its policies of merger, especially in the run-up to the Lok Sabha elections, he said.
Union state president C Ananthakrishnan presided over the conference. Union Bank general manager and zonal head (Mangaluru) Renu K Nair, reception committee chairman P R Suresh, general convener Gokul U K Pillai, union state general secretary G Ramesh Rao, among others, spoke.