The Hindu Business Line : Corpn Bank, OBC, Indian Bank to form alliance

M. Ramesh reports from Chennai: The proposed "strategic business association" of three public sector banks — Corporation Bank, Oriental Bank of Commerce and Indian Bank — is only a "technical alliance" and will not involve inter-bank transfer of staff, Mr C H Venkatachalam, General Secretary, All India Bank Employees' Association (AIBEA), told Business Line on Thursday.

He said that the unions had been kept informed of the proposed alliance which, according to him, was mainly for sharing of information.

Mr E. Arunachalam, General Secretary, Tamil Nadu Bank Employees' Federation, and Treasurer, AIBEA, noted that deputation from one public sector bank to another had been happening at higher levels all along.

He recalled several instances of officers of the rank of Assistant General Managers being brought into the Indian Bank from Canara Bank, when Ms Ranjana Kumar was the Chairman and Managing Director of Indian Bank.

Inter-bank transfer of employees at lower levels "cannot happen," Mr Arunachalam said, adding that if that happened "we will resist".

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