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L.N. Revathy

Coimbatore, Feb. 28 With the Indian Banks’ Association (IBA) clarifying that “there are no guidelines or directions from the Government to any public sector banks regarding merger”, the All India Bank Employees Association now question the merger proposals put forth by the bank managements.

“If there is no instruction from the Government as informed by the IBA, are we to understand that the proposals regarding mergers, either by SBI or any other bank management are being proposed by them unilaterally?” asks the AIBEA General Secretary Mr C.H. Venkatachalam.

“The individual (public sector) bank managements have no authority to bring in any policy, which is not the policy of the Government, as the Government is the major stakeholder in these banks,” he said, alleging that the bank managements were being over zealous in trying to merge the public sector banks.

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