CHENNAI: Five bank unions are gearing up to hold protest meetings across the country to voice their opposition against the Nayak Committee report's recommendations Friday, an official said.

"This is perhaps the last protest meeting against the outgoing United Progressive Alliance (UPA) government's policies," All India Bank Employees Association (AIBEA) general secretary C.H. Venkatachalam told IANS.

He said, "Bank employees will also be asked to give their views on the committee's report in their individual capacity to the Reserve Bank of India (RBI). The RBI has sought public views on the committee's report."

Besides AIBEA, the protesting unions are All India Bank Officers' Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Federation (INBEF) and Indian National Bank Officers Congress (INBOC).

The RBI constituted an expert committee under the chairmanship of P.J. Nayak, former chairman of Axis Bank, to review governance of boards of banks in India.

The committee submitted its report recently and the RBI asked for comments from the public on it by June 12, 2014.

The unions are angry as the committee recommended reduction of government holding in public sector banks to less than 50 percent, merging government banks, keeping out government banks from the ambit of Central Vigilance Commission and the Right to Information Act, transferring government's holdings to an investment company and repealing the Bank Nationalisation Act.