'Merger of nationalised banks is detrimental to banking system'
United Forum of Bank Unions stages protest in Mangaluru
Mangaluru, October 09: "Banks will have losses with the merger of nationalised banks. There is no proof that the merger of nationalised banks will strengthen the banking sector", said United Forum of Bank Unions district convener Vincent D'Souza.
Addressing a protest organised by the United Forum of Bank Unions in front of Canara Bank circle office at Balmatta in the city on Tuesday, he said that for the first time, among nationalised banks, five SBI group banks were merged. But in its 200 years of history, the State Bank of India had incurred loss for the first time. Now, the central government has planned to merge the Vijaya Bank, Bank of Baroda and Dena Bank which are in profitable mode and the bank employees would strongly condemn the decision, he said.
Why no action against Mallya, Nirav Modi and others?
Businessmen like Vijay Mallya, Nirav Modi and others, owners of Vinsam Diamond, Videocon and other companies had caused loss worth thousands of crores to the banks as they had failed to repay their loans. The government should take suitable action to recover the loan. The NPA percentage has been increasing in banks. Instead of taking action to reduce the NPA level, the central government has planned to merge the nationalised banks which is detrimental to the banking sector. The employees would continue their protest against such kind of merger, Vincent said.
Union leader Eknath Baliga and representatives of various other bank employees associations participated in the protest.
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IPL 2024: RCB qualifies for playoffs, beats Chennai Super Kings by 27 runs
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RCB, captained by South African cricketer Faf du Plessis, emerged victorious in this crucial match to secure their spot in the playoffs. However, the lost match is tragically significant to Chennai Super Kings' key player M S Dhoni, for whom it is believed to be the last IPL season.
