AIBOC flays merger of banks

All India Bank Officers’ Confederation has criticised government on going ahead with the amalgamation of the 10 public sector banks.

“Despite our appeal to the Prime Minister to revisit the decision of the mega merger of the PSBs in view of the pandemic and nationwide lockdown, RBI notified the PSB amalgamations on March 28th,” a AIBOC statement said

“We are of the firm opinion that implementation of the merger decision during this abnormal period will severely impair the normal activities of the PSBs and impose needless and avertable burdens on the bank officers and employees. Training and integration of technology platforms following the merger cannot proceed smoothly till the time lockdown restrictions are in place,” said the statement.