ANDHRA PRADESH

Call to merge private banks

Financial reforms affecting the common man opposed

Staff Reporter

KURNOOL: Bank employees have demanded merger of private banks with public sector ones keeping in view the episode of Global Trust Bank.

Addressing a demonstration of bank employees at Central Plaza as part of the general strike on Thursday, convener of the United Forum of Bank Unions V.G.S. Karunakar said all sick private banks were being merged with nationalised banks as a last stage, which increased the burden on nationalised banks.

He said that the burden of GTB was absorbed by Oriental Bank of Commerce. When nationalised banks were made to carry the burden of sick banks, where was the need for continuing private banks, he asked.

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