Bank unions defer two-day strike after govt assurance to look into merger issues

The planned two-day strike at public sector banks from September 26-27 over the mega-merger of banks has been deferred by state-run lenders' unions after the government gave assurances to form a committee which will look into the issues arising out of the consolidation.  The strike was deferred by the four officers' unions of the banking industry after their representatives met with Finance Secretary Rajiv Kumar.

Kumar gave positive feedback on the formation of a Committee which will look into the issues arising out of the merger.

"The Secretary Finance was positive in formation of a committee consisting of all concerned to address the issues arising out of the proposed merger of 10 banks, including preserving the identity of all the banks," the unions said in a statement on Monday evening.