The Hindu Business Line : Merger move opposed

Any move to merge State Bank of Travancore with State Bank of India in the name of global corporate banking would not be in the interests of Kerala, said Dr Sebastain Paul, MP.

Inaugurating a zonal dharna organised by the SBT Employees Union here against the merger of associate banks with SBI, he said the move to make SBI a global bank is to serve the needs of corporates to fund their expansion, overseas mergers and acquisitions. Mass social banking followed by associate banks will be curtailed. In the name of cost-effectiveness, branches will be closed and staff strength reduced. The All-India Bank Employees Association Joint Secretary, Mr V.J. Johny, presided over the meeting. - Our Bureau

More Stories on : Mergers & Acquisitions | Public Sector Banks | Kerala

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

Stories in this Section
Indians take to insurance spending in a big way

Rupee gains against dollar

Lakshmi Vilas goes live with RTGS

Bank stocks shine as Sensex gains 165 points

Munich Re Group for branch office

SBH on deposit drive

IDBI cuts fixed home loan rates

Fed will go 50 bps

Call rates close lower

Plan to set up control registry for mortgage loans in Karnataka

Merger move opposed

‘Cooperative banks deteriorating across country’

Govt must exit all but SBI: Meghnad Desai

Insurance going places

Vinayak Chatterjee resigns from IFCI board

New Tata Capital MD