Money & Banking

Experience of previous bank mergers not encouraging, says officers’ union

Our Bureau | Updated on September 01, 2019

The Central Government has proceeded with another and a bigger bout of bank mergers without assessing the impact of the two recent mergers, according to Satish Shetty, Vice-President of the All-India Bank Officers’ Confederation.

Speaking at a protest demonstration in front of the head office of Corporation Bank in Mangaluru on Saturday evening, Shetty said the experience of bank mergers in the last two years has not been encouraging on the business front, customer service, NPA management and the workforce. The government has not learnt a lesson even after the recent mergers, he said.

Shetty, who is also the General Secretary of the Corporation Bank Officers’ Organisation (CBOO), said the large-scale merger of banks will adversely impact the ease of banking for the common public.

The business of all the merged entities will suffer due to time, energy and resources that would be spent to put in order the house post-merger, he said.

The government’s move will weaken public sector banking, and will encourage private sector banks at the cost of public sector banks, he added.

The members of the United Forum of Bank Unions, representing various banks in Mangaluru, participated in the protest demonstration. They also shouted slogans against the Centre, the Prime Minister and the Finance Minister.

Published on August 31, 2019

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