Malappuram district bank employees bodies warn of indefinite strike if not merged with Kerala Bank
Malappuram: The various associations of district bank employees here have warned of indefinite strike if the district cooperative bank is not merged with Kerala Bank.
Demanding the merger, a token strike has been called for three days from December 15 to 17. If a decision is not taken even after that, employees will resort to indefinite strike from January, informed MDC Bank Employees Union and District Cooperative Bank Employees Federation in a joint press meet.
As the other 13 district banks have merged with Kerala Bank, Malappuram district bank alone can’t function independently. Out of the Rs 3477 crore deposit of the Malappuram District Bank, Rs 2499 crore (72 percent) is of cooperative societies. Out of the share capital of the bank, 57 percent (Rs 85 crore) is of cooperative societies.
The cooperative societies have become members of Kerala Bank. Hence if cooperative registrar orders to transfer this amount to Kerala Bank as per law, the existence of Malappuram district bank will be in jeopardy, association leaders said.
District banks function as per license issued by Reserve bank of India. There are possibilities that RBI might withdraw the license after the bank loses its tag of district bank as per state cooperative law, they further said.
All Kerala District Cooperative Bank Employees Congress General Secretary C K Abdul Rahman, MDC Bank Employees Union Treasurer K Abdul Nasar, P Sreedharan and P Ali participated in the press meet.