Andhra Bank Award employees union stages dharna against merger with UBOI

Andhra Bank Award employees union stages dharna against merger with UBOI

Agency News

Hyderabad, Sep 5 : A larger number of employees from Andhra Bank Award employees Union from Telangana, have staged a day-long dharna at dharna Chowk near Indira park here on Thursday against the Centre’s decision to merge AB with Union Bank of India (UBOI) and to save and retain the bank as Andhra Bank’.

Speaking after inaugurating the protest, AIBEA ( All India Bank Employees Association) Secretary and AP and Telangana Bank Employees Federation (AP and TBEF) General Secretary, B S Rambabu said the Centre’s decision to merge Andhra Bank with the UBOI along with Corporate Bank hurt the ‘sentiments of ’ of Telugu people of Andhra Pradesh just like the merger of the Hyderabad-headquartered State Bank of Hyderabad with State Bank of India went against the interest of Telangana people.

Leaders irrespective of party affiliations in Andhra Pradesh and Telangana found fault with the Centre's move and said this would hurt the sentiments of Telugu people and urged the centre to withdraw the merger decision.

It was on November 20, 1923 that freedom fighter Bhogaraju Pattabhi Sitaramayya founded Andhra Bank as a small private bank in Machilipatnam with a paid up capital of Rs1 lakh and authorized capital of Rs 10 lakh for benefit of the Telugu people, he said once the merger, big corporates in Mumbai and other places would knock away with the advances from the merged banks which collected deposits from the twin Telugu-speaking states, he feared.

AIABAEU( All India Andhra Bank Award Employees' Union) Founder General Secretary BSR Mohan Reddy , Chairman T Ravindranath and General Secretary N V Ramana alleged the decision of the Centre would see closure of the bank branches especially in rural areas in a big way and downsizing of the establishments, without understanding the history of Andhra Bank.

The Centre's decision to merge Andhra Bank with Union Bank of India and Corporation Bank will snap the emotional link the people of Andhra Pradesh and Telangana had with this 96-year-old bank, they added.

AITUC Telangana State Council General Secretary Bose Babu said that the Modi-headed NDA government at the centre which had failed to implement even a single promise made to the state at the time of bifurcation, was playing with the sentiments of the telugu people and demanded that the merger decision be taken back.

According to its annual report for 2018-19, the bank had 6,687 delivery channels consisting of 2,885 branches, four extension counters and 3,798 ATMs spread over 26 states and three Union Territories. The bank had 21,403 employees as on March 31.

Total business during the year grew by 6.95 per cent to Rs 3,98,511 crore from Rs 3,72,605 crore in 2017-18. The turnover includes Rs 2,19,821 crore deposits and Rs 1,78,690 crore advances.

Earlier, the employees after garlanding the statue of Dr Bogiraju Phattabhi Sitharamaya at Andhra Bank Head office here, took out a huge bike rally from Union Office, Saifabad to Dharna Chowk.

Former MLC Prof Nageshwar Rao also participated in the protest. (UNI)