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Bank staff are planning a series of agitations against bank mergers. There is no need for consolidation in the banking industry.

A figure of 27 PSBs for 110 crore people is not a large number. Mergers will create monopolistic structures and the huge entities will dictate terms to customers.

Even if all the PSBs are merged into one bank, it can certainly not match some foreign banking entities. Mergers will not create synergies but will definitely lead to chaos due to non-integration of human resources.

S. Raghunatha Prabhu Alappuzha

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