Opposition leaders in the Rajya Sabha on Wednesday attacked the Narendra Modi government for undermining the authority of Parliament by bringing in State Banks (Repeal and Amendment) Bill, 2017, almost a year after the five associate banks were merged by the State Bank of India through an ordinance.
The Bill seeks to ratify the merger of State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and Bharatiya Mahila Bank that took place on April 1 last year. Opening the debate, Congress leader Jairam Ramesh said, “I would like the Minister of State to give an authoritative statement on behalf of the government that privatisation of banks or denationalisation of banks is not on the government’s agenda.”
D. Raja of the CPI claimed that no benefits have been derived after the merger.
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Vijila Sathyananth (AIADMK) said the merger has inconvenienced the customers, since the few branches of the SBI are now overworked.