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Global Trust Bank EGM today
Our Banking Bureau
Hyderabad, Feb 25: Despite the management's claim to protect all the employees of UTI and Global Trust Bank (GTB), the largest of all mergers in the history of banking sector, UTI-GTB, is likely to leave certain black holes in the arena of human resources. Though the shareholder's nod for the merger may be a simple affair, the banks are likely to face major trouble from the employee circles, as the unification of the various departments will become the focal point of discussion. According to the informed sources, the banks have already geared to face this problem by constituting department wise working groups seeking their opinions. GTB is holding the extraordinary general meeting of its shareholders on February 26, seeking approval of merger, while the UTI bank had already held the EGM on February 24. After the merger, the new bank will be called UTI Global Bank and its registered office will be set up at Hyderabad. Ever since the announcement of amalgamation of GTB with UTI bank, the GTB employees,especially from middle and top levels, have been airing their ire against the management for not giving them enough inkling of the proposed merger.Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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