Such decisions should be taken at an all-India level. We have not been officially involved in the process and we have not moved from our stand on the issue of consolidation, CH Venkatachalam, secretary, All India Bank Employees Association, told FE.
Mr Venkatachalam added that the trade unions would not allow any kind of merger in the banking sector. In fact, the unions may intensify their agitation in case there is any move to merge entities.
The unions have re-iterated that the exercise may lead to large scale retrenchment though the finance ministry has assured that all jobs would be protected.
Meanwhile, the issue of consolidation is likely to be discussed in the meeting on Friday between finance minister P Chidambaram and heads of the public sector banks.