The Bank Employees Federation of India has termed as ‘shocking’ the deal between SBI and Reliance Money Infrastructure Ltd wherein the latter will act as a business correspondent to the public sector bank.

BEFI State general secretary C J Nandakumar said the deal, which was signed in February and with which took retrospective effect from October last, had been kept a secret from the public, trade unions and the bank staff. This was being done in the name of ‘financial inclusion’, he said, urging all bank unions to oppose the deal.

(This article was published on April 30, 2014)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.