“The company has two business accounts at the Goregaon branch of Dena Bank. Till May 4, there was Rs 40.27 lakh in one account and Rs 3.17 lakh in the second account,” Kishor Nagda said in his police complaint.
The one-day strike has been called by the United Forum of Bank Unions (UFBU) who claimed that the government wants banks to grow in size through this amalgamation. The strike has affected banking operations.
Dena Bank is set to be amalgamated with larger peers Bank of Baroda (BoB) and Vijaya Bank by the end of the current financial year. It is currently under the RBI’s prompt corrective action (PCA) framework and is the only lender to have been asked to freeze lending altogether.
Vijaya Bank posted a 43.3 per cent decline in net profit at Rs 144.34 crore for June quarter even though NPA ratio improved. In absolute terms, gross NPAs however rose to Rs 7,579.11 crore as on June 30, 2018 against Rs 6,812.21 crore a year ago.