The late Finance Minister, C. Subramaniam, said in Parliament years ago that in our country “banks and bank employees are a high-wage island in a sea of poverty”.

There are qualified and able men in our country who are willing to work for 50 per cent of the salaries bank employees are getting. The public has no sympathy left for the striking bank staff.

Bank employees are gaining enormous bargaining power through unity.

It must be understood that the government’s policy of merging and amalgamating banks with one another in the name of consolidation is not the right thing to do.

Each bank must be made to function as a separate entity. The wise thing to do would be to give up bank mergers and thus break the strength in unity and bargaining power.

Ranganathan, Chennai

(This article was published in the Business Line print edition dated August 13, 2009)
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