There will not be single job loss due to merger of banks, says Finance Minister Nirmala Sitharaman
Chennai, Sep 1: Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation.
"Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When we spoke about amalgamation of banks I have very clearly underlined the fact that there shall not be one employee removed. Not at all,” she told reporters here.
She was replying to a question on the bank employees unions opposing the merger plan on the ground it would lead to loss of jobs.
Sitharaman on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as the government looked to boost economic growth from a five-year low.
Responding to the government's plan, the All India Bank Employees Union has said the amalgamation would lead to closure of banks besides job losses.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Security forces destroy 23 illegal bunkers, seize 18 IEDs in Manipur
Imphal (PTI): Security forces have destroyed 23 bunkers illegally constructed in Manipur's Ukhrul and seized 18 IEDs in Tengnoupal district in separate operations, a police statement said on Saturday.
The bunkers were destroyed on Thursday in the hill villages of Mongkot Chepu, Shongphel, Mullam, Sirarakhong and Ringue in Litan police station area, it said.
A 12-bore pump action gun, 17 cartridges of different calibres and 111 empty cases of fired bullets were also seized.
At least seven people have been shot dead in different firing incidents and more than 30 houses have been torched since violence broke out between Tangkhul Naga and Kuki communities in Ukhrul district in February this year.
Meanwhile, in a separate operation on Wednesday, security forces seized a cache of arms and explosives in T Bongmol village in Moreh police station area in Tengnoupal district.
Two single-barrel rifles, four 9mm pistols with magazines and 18 improvised explosive devices (IEDs) were seized. The explosives were destroyed on the spot, it added.
