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Our Bureau

Thiruvananthapuram, Aug. 25

The Kerala State Committee of the All-India Bank Officers' Confederation (AIBOC) staged a sit-in in front of the Regional Office of the Reserve Bank here on Friday to protest the proposed merger of Lord Krishna Bank with Centurion Bank of Punjab. Addressing the demonstrators, Mr P. B. Thomas, State President, said that the protests against the merger move were now becoming more broad-based.

That the move was conceived with the sole objective of making a profit also was becoming increasingly clear. The deafening silence of the Reserve Bank, the regulator, did not help matters either. The confederation demanded immediate intervention by both the regulator and the Ministry of Finance to ensure that the policy of social banking won the day.

An AIBOC delegation later met the Regional Director of the Reserve Bank here to submit a memorandum in this connection.

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