Vijayawada: The ING Vysya Bank employees demanded the management of the Kotak Mahindra Bank, which is going to merge ING Vysya, to protect their interests. The general secretary of the AIIVBEU K.J. Ramakrishna Reddy and the general secretary of the AIIVBOA S.A. Sridhar while addressing the press here on Sunday expressed deep anguish over the unilateral decision of the management of the ING Vysya Bank to merge with the Kotak Mahindra Bank.
This decision of merger of the older profit making bank with Kotak Mahindra bank, a new generation bank was shocking, they commented.Through the consistent struggles over the past five decades the employees of the ING Vysya bank had succeeded in getting the Bipartite settlements, pensions and various welfare measures, they said.
But the proposed merger with Kotak Mahindra, where there is no union or association and has been functioning mostly on contract labour and outsourcing basis, will harm the interests of the ING Vysya employees. Hence they demanded that job security should be provided to the staff of ING Vysya bank and all the settlements and the understandings which were already in existence should be honoured. Otherwise they warned that they will go on strike starting from the first or second week of January, 2015.
