AIBOC warns against merger of banks led by BoB; demands 'good banks'

Protesting against the proposed merger of three public sector banks (PSBs) -- Vijaya Bank, Dena Bank and Bank of Baroda -- the bank officers' union on Thursday launched a series of agitation programme here and demanded "good banks" instead of "big banks".

"The supposed synergy that would be obtained through the merger is a myth as we have witnessed several failed mergers nationally and globally," said All India Bank Officers Confederation (AIBOC) West Bengal unit Secretary Sanjay Das.

Bank officers said that while deciding on the proposed merger, the opinion of representatives of workmen or officers in the boards of public sector banks was not taken.