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Fri, Apr 26, 2019 | Last Updated 3:09 am IST

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Banks be closed for 5 Days due to Merger

Banks be closed for 5 Days due to Merger
Banks be closed for 5 Days due to Merger

New Delhi sources stated that Bank unions have called for a nation-wide strike on 26 December to protest the proposed merger of Bank of Baroda, Dena Bank and Vijaya Bank, which was approved by the Central Government in September. Meanwhile the strike is against the central government’s move and the concerned Public Sector banks are going ahead with their decision to protest against the proposed merger.

Furthermore in June-end, the total business size of these three entities (Bank of Baroda, Dena Bank and Vijaya Bank) together was Rs 14.82 lakh crore and the merged entity will make it the third-largest lender in the country after State Bank of India (SBI) and HDFC Bank. Accordingly the strike will be organized by the United Forum of Bank Unions (UFBU), and all unions under UFBU will participate in this strike call on December 26.

Banks be closed for 5 Days due to Merger

The banking transactions are going to be affected from December 21 to December 26. Reportedly 21 December proposed strike by All India Officers Confederation, 22 December is a fourth Saturday, which is a Bank holiday, 23 December is Sunday. On 24 December banks will be open on Monday, which will be a working day for all Banks, 25 December is Christmas and 26 December, the strike will be conducted by the United Forum of Bank Union.

Banks be closed for 5 Days due to Merger
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