The Central Government plans to merge 10 public sector banks into four - to create fewer and stronger global-sized bankers - revive economic growth.
Punjab National Bank, Canara bank, Union Bank of India, Indian Bank, United Bank of India, Allahabad Bank, Syndicate Bank, Corporation Bank, Oriental Bank of Commerce and Andhra Bank would be merged.
Members of the All India Bank Employees' Association on Saturday staged a protest here against the Centre's decision.
“The government's move is ill timed and needs a review.” - C H Venkatachalam, General Secretary, All India Bank Employee’s Association.
During global financial recession in 2008, the domestic banking system was safe because of public sector banks.
Union would meet in New Delhi on September 11 to decide on going on strike.