Dena Bank & Vijaya Bank to vanish & merge with Bank of Baroda from 1-4-19

AIBEA decides to protect the interest of the employees

AIBOBECC, AIDBECC & VBWO to merge together

AIBOBECC will now command a membership of more than 22,000 employees

Thus AIBEA becomes majority union in Bank of Baroda from tomorrow

Ever since the Government announced their decision in September, 2018 on merger of Bank of Baroda, Dena Bank and Vijaya Bank, we have been opposing the move since merger and consolidation of Banks is not warranted and actually what we need is expansion of our banks so as to reach every citizen of this country. There have been continuous programmes under the banner of UFBU.  The strike on the 26^th December, 2018 was also a massive success but despite these protests and opposition, the Government has been going ahead with their plan.  They notified the Amalgamation Scheme, swap ratio was finalised and other formalities have been completed.  The effective date was fixed as 1^st April, 2019.

Hence from tomorrow morning, these three Banks will become a new single entity under the name of Bank of Baroda. 

With this merger, Bank of Baroda becomes No.1 Bank amongst the nationalised Banks with the following profile:

·      No. of Branches  :    9,500

·      Total Business    :    Rs. 15 lac crores

·      Total customers  :    12 crores

·      No. of ATMs        :    13,400

·      Total Staff          :    85,000

Taking all the Banks into account, BOB will be No. 3 Bank in the country ( No. 1 - SBI,   No. 2 - HDFC Bank,   No. 3 - BOB  and  No. 4 - ICICI Bank ).

Parity of benefits:  With merger of these Banks becoming imminent, we took initiative to ensure that interest of the employees in all the three Banks are protected and taken care.  We are happy to inform that the management has agreed that all the benefits, welfare schemes, etc. available hitherto fro BOB employees will be extended to Dena Bank and Vijaya Bank employees w.e.f. 1-4-2019.  Management has already issued their Circular in this regard. 

Parity in Seniority:  We also took up the issue of parity in service for Dena Bank and Vijaya Bank employees on becoming employees of BOB with effect from 1-4-2019.  The same has been agreed to.

Check off system:  On our taking up the matter with BOB management, it has been agreed that the existing check off facility for recovery of union subscription of employees will be migrated in the HRMS of BOB and recovery of subscription will continue as hitherto.

Membership position in BOB as on 1-4-2018:  In view of the merger of Dena Bank and Vijaya Bank with BOB, it has been decided that all our units and members in Dena Bank and Vijaya Bank will get affiliated to our All India Bank of Baroda Employees Co-ordination Committee. Hence the membership of unions will be as under.