Date:24/02/2005 URL: http://www.thehindubusinessline.com/2005/02/24/stories/2005022402670600.htm

Back Bank strike on March 22

Our Bureau

Chennai , Feb. 23

THE United Forum of Bank Unions has called for a one-day bank strike on March 22.

Mr C.H.Venkatachallam, General Secretary, All India Bank Employees Association, said, "The strike is being called to protest the Union Government's proposal to allow higher foreign direct investment in private banks and its proposal to merge public sector banks."

When asked if the merger proposal wasn't voluntary, as the Government statements said in the recent past, Mr Venkatachallam said, "Nothing is voluntary".

He said, "The Government's announcement yesterday, granting autonomy in acquiring new businesses is nothing but an indirect advice to banks to merge. We are against this."