Kerala   

AIBEA opposes bank merger

KOCHI: All India Bank Employees’ Association (AIBEA) has said it is opposed to the bank merger policy.

In a statement, the association said within 48 hours after managing to win the confidence vote, the Union Cabinet decided to issue an order sanctioning SBI-State Bank of Sourashtra merger.

Merger of public sector banks to ‘up-scale in terms of footprint, manpower and other resources’ as claimed by the government would mean closure of bank branches and staff reduction. The allocation of resources from the rural poor to urban rich would lead to dismantling of country’s mass banking systems and practices, the statement said.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Panel on backward classes calls for caste-wise census
AIBEA opposes bank merger
Witnessing a thousand full moons
Rain warning system
Blues in the new age
Providing energy for a lifetime
NABARD office in Kalpetta attacked
Chandy, Mani seek judicial probe
RI in fake currency case
P.S. Nair dead
Won’t drain after the rain
Ignoring the risk
Hot topic
Taking no chances
Pattambi murder case: bodies found
Judge criticises police

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu