There are going to be several EFFECTS of BANK Mergers on Job VACANCIES, QUORA Bank Merger effects and What will happen after BANK MERGER 2019 Quora? Latest BANK Mergers news in Detail. Also Questions regarding what happens to employees when banks merge? BANK MERGERS news, What will happen after Bank Mergers? quora.
LATEST NEWS 2nd SEPTEMBER
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LATEST NEWS 31 AUGUST
Bank employees stage protest against Centre's decision to merge PSU banks
- Employees of all public and private sector banks wore black badges to work as a mark of protest
- All India Bank Employees' Association's General Secretary, C H Venkatachalam said the government's move was "ill timed" and needs a review
Today, on 30th AUGUST Finance minister Nirmala Sitharaman on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank with the business of ₹7.95 trillion to make India’s second-largest bank, a week after announcing a slew of measures to boost consumer and investment confidence.
Also, Union Bank will be merged with Andhra Bank and Corporation Bank to build India’s fifth-largest public sector bank with ₹14.59 trillion in business.
Indian Bank will be merged with Allahabad Bank to make India’s seventh-largest PSB with a business of ₹8.08 trillion.
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EFFECTS of BANK MERGERS on Vacancies, Employees
Weak banks can instead become stronger by focusing on their core areas like corporate or retail lending in a particular part of the country instead of full presence across the country. These banks must put in place a strong mechanism for recovery of bad loans at an early stage before the matter goes out of hand.
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Weaker banks can streamline by redeploying capital out of non-strategic and sub-optimal business, review their branch and other networks and pare down losses by introducing technology and efficiency and operating control of these banks should be handed over to professionals.
Merging weaker state-owned banks is a complicated task and difficult to execute. Sensitive issues like staffing, branch integration, and priority sector lending will have to be handled carefully. The treatment of legacy issues, closure of redundant branches, redeployment of human resources and efficient allocation of capital will have to be looked into before merger.
what happens to employees when banks merge ?
However, NOTHING has been mentioned by the government regarding this till yet !! Hopefully, presently Working Staff won't be affected Much, but UPCOMING vacancies will surely slow down.
lso, the government will face the wrath of nearly eight lakh employees as the employees of state-owned banks are highly unionized. For instance, employees of associate banks of State Bank of India like State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore have made it clear that they will not agree to any merger with SBI.
Punjab National Bank, Oriental Bank of Commerce and United BAnk of India.
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