The Hindu Business Line : Left support to banking unions

THIRUVANANTHAPURAM: The Leader of the Opposition in the State Assembly, Mr V. S. Achuthanandan, has said that the Left would support the campaign of bank unions against mergers in the sector.

Inaugurating a seminar on the subject organised here by the State Bank of Travancore (SBT) Staff Union, he said mergers would not just lead to closure of rural branches but hasten privatisation of banks. This would adversely hit the interests of the common public, which are best served by nationalised banks only.

The seminar brought into perspective the proposed merger of associate banks, of which SBT is a part, into the parent State Bank Group. Among those who spoke on the occasion were Mr P. Sadasivan Pillai, President, Bank Employees Federation of India (BEFI) and Mr P.V. Jose and Mr P. Jayakumar of the SBT Staff Union.

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