The All India Bank Employees Association (AIBEA), which has called for a nation-wide strike on December 26 opposing the merger of Bank of Baroda, Dena Bank and Vijaya Bank, on Saturday said the move was unwarranted as it would not be beneficial to the economy and the people at large.
"The merger will also affect the interests of employees, their jobs and job security. The move would also affect employment opportunities in the banking industry," the association's general secretary, CH Venkatachalam, said here.
Noting that several villages were yet to receive banking services, he said, "There is a huge exclusion of people. Banks need to be expanded. No need for consolidation."
Referring to the government's contention that the merger would make the banks stronger, Venkatachalam said, "There is no evidence to this conclusion. Last year, six banks were merged with SBI. But SBI (State Bank of India) has not become any bigger."