Canara Bank union in Kerala to join all India stir

Kozhikode, Kerala June 19 (UNI) The Kerala unit of the Canara Bank Staff Union today announced plans to join the all India strike on June 29 in protest against the proposed move to divest more shares through public issues.

The management was planning to mop up Rs 170 crore through a second public offering facilitating more private players to influence the functioning of premier public sector banking institution, assistant secretary K V George and Bank Employees Federation of India joint secretary A K Ramesh Babu told a press conference here.

A notice to this effect has already been issued to share holders to take a formal decision on the issue at the meeting scheduled on June 23, they said.

The Bank had already mopped up Rs 385 crore by shedding 28 per cent of shares in 2002,they said.

The demands among others included stalling of the proposed move to outsource work due to shortage of work and change of Bank's emblem, they said.

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