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The general perception in the Management quarters was that the trade unions were meant for the lower level of workers and the supervisors were part of the management. Such a perception could hold good only when the service conditions of the supervisors are better than those of their subordinates. The Trade Union Act prescribed certain broad guidelines as regards the eligibility for the purpose of forming the trade unions by the workers and provided certain protection and immunity to the leaders of the union.The professionals including the Bank Officers were definitely ineligible to form union and they were considered as part of the management by the framers of the Trade Union Act as well. This was the common perception in the middle of the 20th Century.

The Banking Industry is the backbone of the economy of the country. The banks were nationalized to ensure that these institutions would function as an agency of the Government to take up the developments of the economy. The first such take over took place in case of the Imperial Bank of India in the year 1955. This was the period during which there were hundreds of private Banks operating all over the country

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