The Hindu Business Line : LKB, Centurion merger opposed

The All India Bank Employees Association (AIBEA), while demanding a thorough probe into the affairs of Kerala-based Lord Krishna Bank, has expressed its opposition to the merger of this bank with Centurion Bank of Punjab. Stating that the Government and the RBI should not permit this merger as it would put the reported skeletons under carpet, the AIBEA General Secretary, Mr C.H. Venkatachalam, said it would be advisable to merge the ailing Lord Krishna Bank with a nationalised bank in public interest, particularly the depositors.

The AIBEA has called upon the state federations to extend support to the indefinite strike called by the United Forum of LKB Unions and organise solidarity demonstrations before the ailing bank's branches.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
HDFC Bank bond sale

Gold weakens as dollar strengthens

Forex reserves rise by over $1 billion

Rupee slips on strong dollar demand

iGate scales up Canada bank account

Bond prices rally post-auction

UCO Bank to focus on educational loans

Gross bank credit up

Call rate unchanged

T-bill auctions announced

`Payroll' card to draw salary from ATMs of SBI

UWB takeover: Management bandwidth for NPAs must

LKB, Centurion merger opposed

Union Bank ties up with NBHC

Franklin Templeton signs MoU with SBP

`Customers are not irritants but important'